The best ways to find off-market deals

Cleveland, OH · Member since 2017 · 161 posts · 38 votes

Hey guys, I am just wondering what are all the ways to find off-the-market deals?

Can I have a realtor show me the home even if it not on the market? I am a go getter so I am willing to do whatever it takes to find a great deal! Thanks guys.

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Damir KamberPro Member

Investor · Roswell, GA · Member since 2014 · 234 posts · 97 votes

Go-getter mentality is definitely the right way to start in REI. Add patience to the mix and you could be heading places. Best way to do anything mostly depends on the individual and their current situation. Do you have time to drive around and look for distressed properties? Knock on the door and speak to the owners? Would you rather buy lists (probate lists, absentee owner lists, tax lien lists, etc.) and pay someone to professionally mail letters and postcards to the owners? Are you creative and able to make your own postcards and mail yourself to the list of potential owners in distress whose house you identified by 'driving for dollars'? Many ways to approach your marketing strategy. My personal favorite is a fine blend between direct mail/online marketing and relationships. Once you surround yourself with the right people and you bring value, of some sort, to the team, opportunities start to present themselves.

More importantly than getting a deal, what is your why? Why real estate investing?

Cheers,

Damir

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Damir KamberPro Member
Investor · Roswell, GA · Member since 2014 · 234 posts · 97 votes
9y
Go-getter mentality is definitely the right way to start in REI. Add patience to the mix and you could be heading places. Best way to do anything mostly depends on the individual and their current situation. Do you have time to drive around and look for distressed properties? Knock on the door and speak to the owners? Would you rather buy lists (probate lists, absentee owner lists, tax lien lists, etc.) and pay someone to professionally mail letters and postcards to the owners? Are you creative and able to make your own postcards and mail yourself to the list of potential owners in distress whose house you identified by 'driving for dollars'? Many ways to approach your marketing strategy. My personal favorite is a fine blend between direct mail/online marketing and relationships. Once you surround yourself with the right people and you bring value, of some sort, to the team, opportunities start to present themselves.
More importantly than getting a deal, what is your why? Why real estate investing?
Cheers,
Damir
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MJ Hall
Real Estate Broker · Atlanta GA; Huntsville, AL · Member since 2017 · 43 posts · 15 votes
9y
You may also have some luck with searching Craigslist and Zillow - For Sale By Owner. I know it’s obvious but they totally work. Best, MJ
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Ray Lai
Investor / Vendor · San Diego, CA · Member since 2016 · 1k+ posts · 949 votes
9y
@Joshua Hollandsworth
Realtors only show homes on MLS unless they are pocket listings. People won't just share their pocket listings to anyone, usually only to people who they know can close and won't waste their client's time.
If you're serious about finding off-market deals, you'll need to do marketing and learn how to negotiate deals. Then you can do direct mail (scalable), door knock (if you have lots of time and are personable), or cold call. This is after you do some legwork putting together a solid list by driving for dollars, going to your courthouse or county assessor's for absentee, probate, or tax delinquents, etc.
MLS = the market.
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Joshua Hollandsworth
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Cleveland, OH · Member since 2017 · 161 posts · 38 votes
9y
Thanks a lot guys!
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Ned CareyPro Member
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Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
9y
@Joshua Hollandsworth yes an agent can help you as a buyer broker. If it is an off market property you wold have to set something up with the owner but an agent can still accompany you. Agents have no secret way to get in properties unless they are listed. As said above listed = on market deals.
Here are some ideas to get you started;
- vacant houses
- burnt out landlords
- Estate/probate properties
- bankruptcy
- divorces
- out of state owners
- Public auctions
- Giving your business card to everyone
- your own website
- Facebook, Craig's list etc.
- Direct mail
- door knocking
The beginning of the list tends to be more who to target. The end of the list is more ways to reach them.
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Daniel HymanBusiness Member
CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
9y
Joshua Hollandsworth Damir Kamber gave some good advice. I personally received a good response rate from my first direct mail campaign. The challenge with that is to find out asap if they are motivated to sell. Otherwise it ends up being a waste of time.
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Damir KamberPro Member
Investor · Roswell, GA · Member since 2014 · 234 posts · 97 votes
9y
Thanks @Daniel Hyman! Any tips or questions to ask to best find out if they are motivated or not?
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Daniel HymanBusiness Member
CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
9y
@Damir Kamber
Some questions you might ask are:
- When are you hoping to have this house sold?
- Is there a number that you are looking for?
I'm still trying to find a good path to figuring it out. Michael Quarles has some good threads on how to handle the calls. I would check them out.
BTW, I see you are in Roswell. I often get to Sandy Springs to visit family. We should connect sometime.
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