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Updated 5 months ago, 07/30/2024
How can I identify undervalued or distressed properties for a potential off-market in
Here's how you can find good deals on properties that might need some work or are priced lower than usual:
Connect with People - Make friends with real estate agents, lawyers, and others who know about properties that need to be sold quickly or aren't in great shape.
Reach Out Directly - Send letters or use websites to contact property owners who might want to sell fast.
Look Around - Drive or walk around neighborhoods to find houses that look like they need fixing up. Sometimes you can talk directly to the owners.
Use the Internet - Websites can show you houses that are being sold because the owners couldn't pay their bills or are in other kinds of trouble.
Check Public Records - Look at official papers to see if a property owner is behind on taxes or other bills, which could mean they need to sell fast.
Study the Market - Learn about how much houses in that area usually sell for and how much you could sell it for after you fix it up.
Be Careful - Make sure you investigate the property fully to see if there are any legal problems or money owed on it.
By using these steps together, you can find properties that might be a good investment because they need work or are being sold at a lower price than usual.
Kind regards,
- David Ounanian