Walking for dollars?

[Nat C.]

I just got an amazing deal off the MLS on a 4 bedroom house.

The area at the moment can be classified as a ghetto but is going to skyrocket in value in the next 5-10 years as it's prime real estate in the middle of the city, surrounded by super expensive neighborhoods.

Every time a property becomes available in this zipcode, it's scooped up by an investor in a matter of hours. 

I want to buy as many houses as I can on the same street or close to. Of course there's the postcarding method of trying to buy properties but has anyone taken that a step further and tried approaching people in person?

I was thinking of dressing in very casual attire, so as to not look too professional and walk the streets and introduce myself as the new neighbor who just bought on the street and see if anyone else is interested in selling. I would offer to buy for around the same price I bought the other house for. I would say they could move somewhere else or continue to live there and rent from me.

Any thoughts or suggestions?

[Robert Blanchard]

You could always employ a bird dog or tell people on that block that you will pay a finders fee if they find a property coming up for sale that is not on the MLS (yet). Money can be a good motivator for get some people talking to you.

Craigslist could be another method to locate properties. If you find a listing for a rental or for a property for sale, the Owner might be willing to sell to you vs renting it or it might not have made it onto the MLS yet.

Since you are in FL, they might still have block parties in the winter months. Again, this depends on how Ghetto the area is.  Find out when and where and make sure you attend with a nice table of food or rented inflatable bounce house for the kids in the area.  Not sure if this would get you in with the parents or come off as the "rich" neighbor that could afford to pay for the rental.  They do not have block parties where I live, but my Church had a big fourth of July event and rented two inflatable things to keep the younger kids entertained.  They were a big hit. 

Good luck on your hunt for more properties.