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Updated about 1 year ago, 10/11/2023
Advice on Finding Off-Market Deals
Hey Everyone,
At the moment, I'm looking for properties in a specific location, but the MLS is dry.
How, and where, do I go to find off-market deals and property owners that may consider selling?
I don't fully understand the non-MLS side of things.
Any advice or guidance is greatly appreciated. Thanks!
PropertyRadar. But you will be calling, direct mailing, or door knocking to discuss deals with the owners. I get calls and postcards all the time for my primary home.
A local realtor with pocket listings.
Wholesalers.
Maybe other local investors.
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Get in your city or county Property tax GIS map and look up anyone who is past due in taxes or is continuously past due.
When the leaves fall or snow fall. Wait a few days after everyone should have cleaned up. Drive around and Maine a list log all houses not kept up. Go to the GIS map again and get the name and address of the owner. Look down at the bottom of the report and it will list other properties they own. You might also look for houses or apartments for rent if they are your type. Again go to the GIS map. Look at the bottom and see if they own a lot of properties. They may be old and wanting to start trimming their rentals. Get in with them.
You owe my wife and me a lobster dinner if you land a deal.
Great info!
I will keep you updated! And hopefully that lobster dinner will be on me very soon!
Thanks!
look into driving for dollars, door knocking, mailers, text blasting (REI Reply), cold calling, hiring VAs to cold call. A lot of different strategies, find one that resonates with you and go all in on that
Unfortunately for beginners - mid-level investors it's become extremely harder without a marketing budget and team. A lot of the guys and gals that's been in the RE game for a minute has establish their systems and teams to corner the market. I know of an operation that's spending 60k a month on marketing, personnel, office space, etc.
Depending on your direction for RE investing, I would reach out to a lot of wholesalers that are establish and build relationship with them. They are consistently marketing, cold calling and direct mail to property owners, you just have to communicate with them your perimeters and the numbers have to be realistic. The easiest way to locate wholesalers are bandit signs and BP.
Hope that helps...
you are smart, deals are not on the MLS. especially if you are looking for equity deals and not cash flow. the basics still work. door knocking, cold calling, bandit signs, facebook market place.
if you have money to put into marketing then you are in position to get the best motivated seller leads. getting PPC generated leads is where you will see the best quality.
hope that helps...
Contact a bunch of realtors and wholesalers who can always give you something if it comes into their pipeline. Make sure they are in other teams since most teams share their off-markets with each other. You can also look at the county records to see who is behind their mortgage payments
Don't spend money on marketing before you get your first deal. Rule #1: Don't lose money!
Highly recommend joining real estate investment groups to make connections in your area. One of the best I know of in Maine is https://www.maineapartmentowners.com/. In Maine, there are plenty of older real estate investors looking to exit.
Quote from @Aaron Bard:
Hey Everyone,
At the moment, I'm looking for properties in a specific location, but the MLS is dry.
How, and where, do I go to find off-market deals and property owners that may consider selling?
I don't fully understand the non-MLS side of things.
Any advice or guidance is greatly appreciated. Thanks!
I just realized you are in the Bangor area. I highly recommend GBAOMA. https://www.gbaoma.com/. Many retiring investors, and there are commonly private sale ads in their newsletter.
Quote from @Zachary Tracy:
Quote from @Aaron Bard:
Hey Everyone,
At the moment, I'm looking for properties in a specific location, but the MLS is dry.
How, and where, do I go to find off-market deals and property owners that may consider selling?
I don't fully understand the non-MLS side of things.
Any advice or guidance is greatly appreciated. Thanks!
I just realized you are in the Bangor area. I highly recommend GBAOMA. https://www.gbaoma.com/. Many retiring investors, and there are commonly private sale ads in their newsletter.
Much appreciated!
Also check out https://mainerealestatemeetups.com/ or connect with Nathaniel Seekins. https://www.biggerpockets.com/users/nathaniels3
Hi @Aaron Bard, I run a private lending brokerage out of Hallowell and am actively working with several wholesalers throughout the state. I see a decent number of off market opportunities through realtors as well. I would be happy to chat with you about your plans and any properties on my radar!
@Aaron Bard - networking and building relationships with agents, wholesalers, and owners.