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Updated about 10 years ago on . Most recent reply

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LeMar Blount
  • Norfolk, VA
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Where to find good deals on properties?

LeMar Blount
  • Norfolk, VA
Posted

I'm new to real estate. I have an investor ready, but I don't know where to find the best properties. I've looked on Zillow and Truila, but where are the best deals found?

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Robert Laird
  • Real Estate Broker
  • Portland, OR
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Robert Laird
  • Real Estate Broker
  • Portland, OR
Replied

Hey LeMar!

To be honest the best deals are not going to be found on Zillow or Trulia. Most of the time I have found that people put houses up on those sites to get the most money they possibly can. The best deals are when you find people who are motivated to sell, but have not listed yet and are in a tough situation. People who need the cash and are willing to give up the property for it are the best. I would suggest finding vacant homes and then checking them against the county database to find the owners mailing address. Depending on the county you can also see if they are delinquent on their property taxes. These will be the best deals because they have a vacant home just sitting there and they are tight on money because they are not paying taxes. Another good way to find good deals is by mailing high equity owners. Essentially these are people who own the majority of their home and do not have huge loans to pay off. If you can get lists of this information from list providers and then cross reference them to property tax delinquents or probates those are also good leads. The main point here is you want to find the motivated sellers with properties before they become available to everyone else. Many times this means making the first point of contact wether it is a call or direct mail. Hope this helps!

Rob

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