The Money Mustache Community
Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: rawrawrawr on June 15, 2013, 03:39:01 PM
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Any tips for finding desirable investment properties (aside from the usual MLS/real estate agent)? It seems like (atleast in Atlanta), properties are getting snatched up so quickly. Are the majority of successful investors finding out about potential investments before they even hit MLS? Any suggestions on auction websites, FSBO websites or anything else that you have had success with?
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Whole books have been written about this topic.
Yes, better deals aren't found on the MLS, especially in seller's markets (as most are nowadays.. a few years ago this may not have been the case).
There are many ways.
A few include:
MLS
Networking (with agents, for pocket listings, with investors and wholesales).
Direct marketing (bandit signs, yellow letter and postcards, driving for dollars, probate, out of state, etc. etc.)
Websites (craigslist, auction.com, various fsbo, etc.)
There is no shortcut. The latter few aren't magical codes and are less likely to have deals. The lower the barrier to entry, the more competition there is.
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+1 for Arebelspy's comments. I get between 5 and 10 solicitations from folks hoping to steal my properties every week. I only open them if they look a little different. It's always interesting to see what new "marketing techniques" the late night infomercial people are pushing.
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Have you thought about foreclosures? Williams Auctions has nationwide listings and a friend has bought two here locally and been happy with them as investments. The legal section of our local paper lists all foreclosures on Thursdays.