Finding Off-Market Properties

[Mendez Garcia]

Real Estate newbie here! I aim to purchase my first multi-family unit in NJ and house hack it to the MAX! I'm getting pre-approved to see how much I can afford with my current income and savings funds. I'm curious about the different strategies to look for off-market properties in my area. Is it just knocking door to door and finding out if homeowners are interested in selling?

Thanks for the help in advance!

[Joey Banasihan]

Hey @Mendez Garcia, welcome!

You are taking the right steps for sure! Couple thoughts to be thinking of on your journey:

- Is the goal with off-market to get the best deal? Or is your goal to start the journey? It is easy to get hung up on whether a home breaks even or doesn't cover the entire mortgage, but sometimes just taking the step and getting started is more important.

- Are you open to SFH homes and house hacking? Pending on inventory and your luck with off-market, there may be an opportunity to do a room to room rental; this could be LTR or Mid-Term Rentals.

- Outside of the what folks have stated, utilizing Facebook Market Place and Craiglists could be another option. Whether they are selling or trying to rent a home, and possible avenue to begin conversations. 

Good luck and hopefully you are able to get into your first property soon!