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Updated over 10 years ago, 05/08/2014

User Stats

46
Posts
7
Votes
Joseph Canini
  • San Antonio, TX
7
Votes |
46
Posts

Finding property to flip or rent

Joseph Canini
  • San Antonio, TX
Posted

My brothers in arms, I got another question for you: How are investors like myself finding properties to flip or rent. My partner has access to MLS, and searches there on a daily basis, but I find it hard to believe that is the only way of finding properties. Are there other ways of finding properties to flip or keep as rentals? With San Antonio booming right now, and the competition being steep I am hoping to find an edge to carve out a piece for my company.

Looking for a needle in a hay stack in San Antonio...

User Stats

152
Posts
54
Votes
Patrick Jacques
  • Orlando, FL
54
Votes |
152
Posts
Patrick Jacques
  • Orlando, FL
Replied

Direct mail, craigslist, networking at a local RE meeting... There's a ton of ways to find a property. Be creative.

User Stats

1,982
Posts
596
Votes
Jassem A.
  • Investor
  • Pennsylvania
596
Votes |
1,982
Posts
Jassem A.
  • Investor
  • Pennsylvania
Replied

Sometimes sellers will advertise on Craigslist or other sites that are not on MLS. Also sometimes sellers who are advertising their homes for rent on sites like Craigslist, Hotpads etc that are not directly connected with the MLS would consider offers for their properties rather than waiting for good tenants. I believe there are some wholesalers and companies that buy property in bulk that don't market directly on MLS as well but that use signs and mail advertisements in order to generate leads. You could drive around looking for boarded up or run-down houses and make the owners an offer on a sticky note on their front door.

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CV3 Financial
|
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User Stats

108
Posts
20
Votes
Derek Smith
  • New to Real Estate
  • Denver, CO
20
Votes |
108
Posts
Derek Smith
  • New to Real Estate
  • Denver, CO
Replied

I'll have to agree with Patrick, being creative is your best bet.

For example, my agent and her broker, deal primarily with rehab properties. With that said, they tend to announce what it is they are looking for, usually via word of mouth/e-mails/etc.. I know of at least one project that was off the market, but through the grape vine his office caught wind of the possible deal, shot it over to their investors, and next thing you know they are closing on a property NOT listed on MLS.

So, there are ways, you just have to look for them. Good luck!

User Stats

586
Posts
584
Votes
Seth Teel
Pro Member
  • Investor
  • San Antonio, TX
584
Votes |
586
Posts
Seth Teel
Pro Member
  • Investor
  • San Antonio, TX
Replied

@Joseph Canini Have you tried working with wholesaler and/or agents that specialize in investment properties? I know at my shop we only deal with investment properties and investors. We are currently sourcing the majority of our properties off-market (non-MLS). A year ago, 80%+ of our inventory were listed properties on the MLS. It has gotten too competitive to buy listed properties. We are finding way better deals in other arenas. If you need help sourcing, feel free to give me call. The most successful investors use multiple resources (agents, MLS, wholesalers, auction, REI clubs, etc.) to source their properties.

  • Seth Teel
  • User Stats

    21
    Posts
    6
    Votes
    Andrew Abbott
    • Investor
    • Phoenix, AZ
    6
    Votes |
    21
    Posts
    Andrew Abbott
    • Investor
    • Phoenix, AZ
    Replied

    Google Adwords is a pretty effective marketing tool too. I don't have much computer savvy but was up and running in just a few hours. If you have any questions on it I'd be glad to share what I know.

    User Stats

    42
    Posts
    18
    Votes
    Tucker Merrihew
    • Investor
    • Portland, OR
    18
    Votes |
    42
    Posts
    Tucker Merrihew
    • Investor
    • Portland, OR
    Replied

    Do a driving for dollars campaign in an area where you would like to either buy and rent or buy and flip......then start sending direct mail to the owners over and over and over again......you will get deals if you stick with it.

    User Stats

    18
    Posts
    9
    Votes
    Alan King
    • Flipper/RE Agent
    • San Antonio, TX
    9
    Votes |
    18
    Posts
    Alan King
    • Flipper/RE Agent
    • San Antonio, TX
    Replied

    @Tucker Merrihew how often do you mail these address? Every 30 days?

    User Stats

    42
    Posts
    18
    Votes
    Tucker Merrihew
    • Investor
    • Portland, OR
    18
    Votes |
    42
    Posts
    Tucker Merrihew
    • Investor
    • Portland, OR
    Replied

    We will mail them at 2 week intervals for the first couple letters and then every 4-6 weeks after that.