Finding potential BRRRR properties

[Rob Price]

Hello, I’m looking to purchase a fixer-upper townhouse in the Baltimore area. My main question is how do you find properties that aren’t necessarily on the market? With the way the pricing for houses are so expensive right now, and properties that do go up for sale are getting bought by people for thousands over asking price due to the low inventory, it just seems extremely difficult to find a deal that is worth it to brrrr. Any advice at all would be much appreciated. 

[Scott E.]

I find off market deals through 3 different strategies that I use constantly:

1. I'm on every wholesalers list in town, and I review their deals within minutes of receiving their emails. Most of what they send is garbage, but every once in a while a good one comes through.

2. I drive around every day looking for realtors who have put signs out in the yard, but who have not yet activated the home in MLS yet. This is usually a short window of days or even just a few hours. But if I can catch those agents before they go "live" and work a deal out with them where they take both sides of the deal, I do it.

3. While driving around, I look for homeowners out front mowing their lawn, walking their dog, or hosting a yard sale. I stop and ask them "hey do you know anybody around here who is thinking about selling their house." This approach is a little less aggressive than saying "HEY IS YOUR HOUSE FOR SALE" but it still will open up that conversation in the event they are thinking about selling.