The process of finding deals on Craigslist

[Sheldon Alex]

Hi Everyone,

I'm trying to get started in finding deals on Craigslist but for one, there's so many properties that are for sale by owner in my area. I wanted to find out from some of you that have successfully found deals through Craigslist of the steps you use to getting those deals. For example:

• Do you run comps before calling the owner if a address is present on the ad? 
• Are there parts of a ad that give you hints that it's a potential deal? 
• What questions do you ask to find out if the property is worth checking out in person? 

Thanks for any advice.

Sheldon 

[John Hickey]

Sheldon Alex Many answers to that.

It depends on you and where your at in real estate.

Here's what I do.
I recently switched geographic farm areas. The location is far enough away that my market knowledge is useless. So being where I'm at I'll talk to the dog catcher if he's got something to say. In the beginning say 3 months ago I'd look at 8 houses a day. I would ask about rents, talk to tenants, handymen, listing agents etc. Once I get comfortable in an area I won't go out of my way to be so talkative.

If your experienced and have market knowledge you'll only need information on the house. You'll know if it's a deal. If you can't decide, we'll you need more practice. Look at more houses. Physically.

The way I look at is this....unless it's an imposition on the tenants/landlord I'll be a shopper. I do buy and I'm looking to buy so I'll look at anything for sale in my area. It could lead to another lead. Or it could mean nothing. when your investing any small edge you can get, can make your deal a rocket ship. I look at alot of houses. I Keep track of where i went what they sold for and if someone flipped it what they got on the deal. That's the way I develop a feel for the market.