Weather you are interested in flipping properties or finding cash generating properties as long term rentals, one of the critical success elements for Real Estate Investors is finding great Deals!
Finding deals is not easy, but if you know where and how to look, with some effort, you too can be able to snag up an amazing deal and become a real estate Mogul!!
As an investor and Real Estate agent, here are some of my favorite places to look for deals.
- The Multiple Listing Services (MLS). The Multiple listing services list homes for sale. Only licenses Real Estate Agents have access to these listings. Many investors work with agents who alert them when a deal pops on the market. The MLS has also automated this process so an email is sent every day letting investors know of new properties that fit their search criteria.
- Foreclosure Auction; In Atlanta foreclosure auctions take place the first Tuesday of every month. With regard to houses in Pre-Foreclosure, the State of Georgia does not allow any "Pre-Auction" bidding. Each County in the State of Georgia holds its' Auction the first Tuesday of every month and sales are on a cash and carry basis.
- For Sale by Owner (FSBO). Craigslist and other specialty sites for FSBOs are great places to find deals. Some FSBOs are priced well and others are not. The logic is that by not paying real estate commissions that they can afford to price their homes less than other comps in their area.
- Auctions, there are many online auctions sites that sell foreclosed homes. Most common are auction.com, homesearch.com and hudsonandmarshall.com. There can be a great deal on a rental property on these sites. You may have to check them regularly as some of them do not list on the MLS and other online source.
- Direct Marketing, we’ve all seen the “we buy ugly houses signs” this is a perfect example of direct marketing where the investor markets directly to sellers enticing them to sell. This tactic can be expensive and time consuming, but great deals can be found this way.
- Real Estate Investment Associations are local clubs for investors who fix and flip, buy and hold or wholesale properties. These clubs can be a great source of information; contacts and members even advertise properties they have for sale.
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