Best way to find properties to buy?

[Zachary R click]

Hello,

I am in the Wichita Kansas area and am wondering what is the best way to find investment properties? Are there sites out there that are better then others? Or do people find the best deals at auctions? Or are foreclosures better deals to look for ? I look at Zillow, real estate, and Keller Williams app but majority of what I find is priced to high to be able to do all the repairs the property needs. Just wondering what others have done and found success in. Thank you 

[Ryan D.]

Hey @Zachary R click,

Welcome to BP!  It sounds like you're looking for a fix and flip or a live-in flip.  Depending on your strategy and the resources you have available (money) you may be limited.  So here is what I would do in your situation.

If you're looking for a live-in flip, find 6 Realtors in your local market (through BP or Realtor.com) Ask them for Mortgage Broker recommendations, not just a loan officer at one single bank.  Brokers will have more contacts at more banks. Interview all of the realtors and the mortgage brokers to find a good fit. Work out the financing side of the equation first then they'll help you find a home that will fit.  When talking to a realtor it helps to have someone with experience in the area for the good old boy off-market deals.  I've had a few leads that came because they knew a guy, who knew a guy... etc...

If you're looking at fix-and-flip because you have the money already then you need to find 'deals' quicker.  Drive around and look for 'Bandit Signs' and call the numbers to be added to their 'buyers list'.  Google 'Sell my house in Wichita Kansas' and contact the first 10+ websites/people that come up to be added to their 'buyers lists'.

If you also need hard money lending, I've found that BP has a great number of Hard Money Lenders that you can find through the 'Network' tab at the top.  Again contact at least 6 of them to start the paperwork/relationship to find out which ones will fit your needs. Ask questions regarding fees/points, time to close, rate reductions based on experience.

If you want to directly market/contact the owners then you could look at websites like:

PropStream.com

REI/kit.com

Auction.com (for buying houses at your local auction, some hard money lenders will actually help you with this)

Forclosure.com

You may still be able to find 'deals' listed on the MLS, my go-to site for research is Realtor.com, so you can filter out 'Pending/Contingent' on the 'listing status' so you don't waste your time on homes that are under contract.

Identify the types of homes (location, price, features/amenities) that you want to target for your fixes and try to get as specific as possible when you talk with the realtors.  They'll help find leads or potentially 'Off Market' deals that they know about.  

Lastly, get out of your comfort zone and find a local Real Estate Investment group in your area, get connected. Tell everyone you meet that you're looking for properties. Check on here for your area for local meet-ups. Check Facebook, check google. If there isn't one then start one on Facebook and invite others to join. Provide Value to others, help them and network, network, network your butt off and you'll get to the point that you have more deals than time/money to deal with.

Best of luck! Feel free to PM me for more questions, I'm always happy to help any way I can!