How have you found your properties? Here is how I found mine.

How have you found your properties? Here is how I found mine.

Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes

How have your found your properties?  When I originally starting investing I remember hearing a guru say that had 31 ways to find deals.  I didn't want 31.  I wanted just one that I could do over and over again.  I turns out one doesn't cut it.

Some of these properties were flips, some buy and hold. 

1. Drive by.  The owner hand made sign out front and I stopped.  Inner city.

2. Bandit sign.  I know the Josh Dorkin and Brandon Turner are not fans of bandit signs--and I may discontinue using them--but I posted a bandit sign on a pole right outside a multi-use building and the owner called me.  Inner city.

3. Craigslist.  Owners listed a duplex on craiglist.  Inner city.

4. Craigslist.  Absentee owner, inherited, posted an ad on craigslist.  I suggested a price over email.  He didn't bite until about six months later when it hadn't sold.  Suburbs / Rural.

5. Realtor. REO house. B Area, city (better part of city, nice neighborhood). I discovered I didn't have the temperament for inner city.

6. Realtor. REO house. B area, small neighboring city.

7. Contractor.  My contractor had a job at this house and told me about it.  One of my best deals.  A/B Area, suburb.  (By A I mean low to medium middle class, nice neighborhood.)

8. Wholesaler. B Area, city.

9. Wholesaler.  A/B Area, suburb.

10. Realtor.  Short sale.  I somtimes send emails to the listing realtors telling them I am a cash buyer and if it wouldn't be a waste of time to make an offer in the X range, I'd like to see the house.  A/B Area, suburb.

11. Realtor.  I forget how I heard about it.  He may have had my contact from an email like that above.  It was inherited property.  B Area, suburb.

12. Realtor.  Same as above.  A/B Area, suburb.  I lost my shirt on this one due to big problems with the house.

13. Bandit sign.  Condo.  Relocating.  A Area, suburbs.

14. Yellow letter.  Short sale.  A/B Area, suburb.

15. Online marketing.  Inherited property.  A/B Area, suburb.

16. I don't remember.  Maybe craigslist or bandit sign.  Somehow I had contact and the seller called back a couple of times over a couple of years.

17. Wholesaler.  A/B Area, city.

18. Online marketing.  B Area, city.

19.  Online marketing.  B area, city.

20. Yellow letter.  Short sale.  B area, suburb.

21.  Yellow letter.  Short sale.  B area, suburb.

I still feel like a newbie (slow ramp up starting at the end of 2008) and am still trying to figure out my business model.

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Residential Real Estate Agent · Hattiesburg, MS · Member since 2011 · 475 posts · 141 votes
12y

As a RE Agent I comb the hot sheets multiple times a day looking at New listings, price reductions, back on market, etc.  I also look at closed, pending, and expired.... Do that for a couple years and you will literally know almost everything there is to know about your local market.  

I then do a separate search just on REO and estate properties.

Mostly REO properties, occasional estate, and occasional divorce situation.

I've picked a couple off of craigslist, so I make a point to scour it daily also.  

I really need to step up my game and try some yellow letter campaigns, and bandit signs. 

See this reply in the discussion

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  • William MurrellPro Member
    Investor · Wilmington, NC · Member since 2013 · 276 posts · 169 votes
    12y

    That's an impressive list of properties in a short period of time.  How many were buy and hold and how many were flips?  And how were you funding these deals?

  • Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes
    12y

    @William Murrell Not such a short period of time.  That's over the last 6 years.  But I'm starting to pick up the pace.  Ten of them are holds.

  • Investor · Peachtree Corners, GA · Member since 2014 · 1k+ posts · 1k+ votes
    12y

    Damn Good for a newbie! :)

  • Residential Real Estate Agent · Hattiesburg, MS · Member since 2011 · 475 posts · 141 votes
    12y

    As a RE Agent I comb the hot sheets multiple times a day looking at New listings, price reductions, back on market, etc.  I also look at closed, pending, and expired.... Do that for a couple years and you will literally know almost everything there is to know about your local market.  

    I then do a separate search just on REO and estate properties.

    Mostly REO properties, occasional estate, and occasional divorce situation.

    I've picked a couple off of craigslist, so I make a point to scour it daily also.  

    I really need to step up my game and try some yellow letter campaigns, and bandit signs. 

  • Real Estate Investor · Encinitas, CA · Member since 2013 · 225 posts · 91 votes
    12y
    Originally posted by @Ed L.:

    I've picked a couple off of craigslist, so I make a point to scour it daily also.  

    Do you have any tips for scouring CL? I find it VERY "noisy" ie it would take me hours to scour it and when I have spent a couple of hours... it seems like all ads are realtor posted... and not deals.

  • Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes
    12y

    @Mark Whittlesey, there are several sites that allow you to set key word triggers, just as BP does.   I use https://ifttt.com  (If this then that).  You set key words and have it email you the postings when they match.

  • Investor · Rochestser, NY · Member since 2014 · 84 posts · 13 votes
    12y

    @Larry Turowski incredibly impressive body of work Larry!  Looking forward to hearing and learning more, but I've got a feeling you're not going to share much in the way of details.   None the less, really looking forward to networking with you!

  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    12y

    Good job!  My experience has been similar.  I've found mine via:

    Agent

    MLS

    VA auction

    HUD auction

    Bank REO

    Commercial broker

    Referral

    Wholesaler

    Yellow Letter

    Partner

  • Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes
    12y

    All of our properties we have found on the MLS (RE agents) over the last 14 years. Some have been deals, but mainly the timing of those markets were right.

    I've been trying most of the above though in search of a better deal. Nothing has panned out so far:

    Wholesalers

    Court Auctions

    Birddogs

    Referrals / networking / word-of-mouth

    Probates

    Direct Mail

    -typed letters - yellow letters (many hand written)

    Driving for Dollars

    -door knocking -leaving post cards or business cards on doors -leaving owners handwritten letters  -writing down addresses of dilapidated property and looking them up on public records 

  • Investor · Westminster, CO · Member since 2009 · 1k+ posts · 1k+ votes
    12y

    30 plus years and I forget how I got some of the houses. I was a Realtor for the first half of that and so I had an inside position for getting rentals. I have bought rentals from builders, other investors, HUD foreclosures, straight MLS, PM leads, internet searches, turnkey providers, and so much more. When I was a Realtor, Direct Mail, walking a "farm" area and constant contact with past clients was how the business kept progressing. Even with today's internet, those relationships with people is what brings in the business.

  • Karen MargraveBusiness Member
    Moderator
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    12y

    @Larry Turowski What we do is a little different than most, we build projects from the ground up! Once built we sell to owner/users or investors for buy/hold long term and short term rentals, etc. We have built all different types of properties as spec, from SFR, MFR, Office, Office/retail condos, Office parks with individually owned buildings, medical/dental space, developed a subdivision, etc. It's fun and ever changing.

    We find our land in a variety of ways. 

  • Memphis, TN · Member since 2013 · 969 posts · 524 votes
    12y

    That is very Impressive!!!

  • Mechanicsburg, PA · Member since 2013 · 3k+ posts · 2k+ votes
    12y

    I have 20 major sources of properties.  Only ONE source just doesn't cut it... to a man with a hammer, everything looks like a nail.

    Here's the ways that I have NEVER used:

    Bandit Signs

    Yellow Letter

    Billboard

    TV

    Radio

    You Tube

    Craigslist

    Postlets

    wholesaler

    bird dog

    obituaries

    divorce notices

    landlord tenant court cases

    partition suit

    adverse possession

    eminent domain

    any firearms

    marriage

    inheritance (I bought property that people inherited, but I never inherited any property.)

    game show

    lottery winning

    gambling proceeds

    bribery

    lying

    cheating

    stealing

    squatting

    turn key provider

    bought from relative

    given by relative

    wedding present

    I have bought property from the following:

    US Marshall Service

    VA

    HUD

    State Highway Department

    Hoarder's estate

    Probate

    Sheriff Sale

    Government Tax Sales

    Third Party Tax Sales

    Word of Mouth

    Letter solicitation

    Co-workers

    Neighbors

    Verbal auctions

    Sealed Bid auctions

    Public Sales

    Bank REOs

    Relocation Company

    Arsonist in prison for burning down his own house

    Murderer in prison for killing his wife

    Person who needed bail money

    MLS

    Person owner occupying a vacant lot

    Person living in a garage

    Person with multi-million dollar IRS lien (happened twice different people)

    title problems

    flood zone property

    septic problems & failed perk tests

    Newspaper wanted ad

    Seller who wanted to do something that zoning did not permit

    Landlocked property

    Code violations

    Property encroached about 50% by neighbor.

    Left over lots in subdivision

    Unfinished subdivision

    Life Estate

    Acquired lead from attorney, engineer, government official

  • Wholesaler · San Francisco, CA · Member since 2012 · 259 posts · 147 votes
    12y

    3 deals for me so far. 2 of them have been from our direct mail efforts (both typed letters, one had a handwritten envelope, the other was typed as well). The other one came via PPC campaign - the only real success I've had from that avenue.

  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    12y

    "Person owner occupying a vacant lot"   Oxymoron

    I made an offer on one like this in Austin. Out of area owner, but had hipster squatters living in tents on the lot. Couldn't believe the city let it slide, but they did. 

  • Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes
    12y
    Originally posted by @Derrick Craig:

    That is very Impressive!!!

     But you don't know my results!  They've been middle of the road.

  • Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes
    12y
    Originally posted by @Karen Margrave:

    @Larry Turowski What we do is a little different than most, we build projects from the ground up! Once built we sell to owner/users or investors for buy/hold long term and short term rentals, etc. We have built all different types of properties as spec, from SFR, MFR, Office, Office/retail condos, Office parks with individually owned buildings, medical/dental space, developed a subdivision, etc. It's fun and ever changing.

    We find our land in a variety of ways. 

     I would love to do what you are doing!  By the way, how do you get the nice highlighted @ link?  I figured out how to do a link, but it looks different from everyone elses.

  • Investor · Chicago, IL · Member since 2014 · 169 posts · 29 votes
    12y
  • Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes
    12y

    @Account Closed Got it!  Thanks!

  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    12y
    Originally posted by @Account Closed:

     Doesn't work with Apple IOS. 

  • Real Estate Investor · Austin, TX · Member since 2014 · 21 posts · 24 votes
    12y

    what does "any firearms" mean? In Texas, that could quite possibly crash the market

  • Salt Lake City, UT · Member since 2013 · 164 posts · 73 votes
    12y

    @Larry Turowski So Larry ...is there  one that you have found you prefer  using over another?

    IFTTT is a must if you're going to  source Craigslist for leads.  Just opening your inbox and there's leads that fit your criteria is the best.

  • Knoxville, TN · Member since 2014 · 116 posts · 57 votes
    12y

    1. MLS

    2. MLS

    3. Estate auction.  Kinda funny at closing to watch 3 sibling beneficiaries fight over $20k in proceeds like its several million.

    4. Auction.com  Lady still lived there and was a hoarder.  Had to evict.

    5. Auction.com

    6. Auction.com

    Along with going to the auction.com auctions Im also going to a bunch of other trustee auctions at the courthouse.  Plan to buy 2-4 more in 2014.

  • Karen MargraveBusiness Member
    Moderator
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    12y

    @Larry Turowski Ok here's the secret .... type @nameofperson it will bring up a list to lower left, then click on the name. It places it in the post, highlighted! If for some reason you don't see the name, because the list is too long, type characters: @?  and all the names of those in that post will pop up, click on the name of the person, and it's highlighted! Have fun! 

  • Real Estate Investor · Somerset, KY · Member since 2011 · 211 posts · 64 votes
    12y

    Several ways but here is a recent post I done a a unique approach! Some have used it but you would be surprised how many have not!! 

    http://www.biggerpockets.com/forums/87/topics/1378...

    Great Topic, glad you posted it!!! @Larry @Karen Margrave 

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