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Updated about 10 years ago on . Most recent reply

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33
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11
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Malik Cole
  • Germantown, MD
11
Votes |
33
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how can i find vacant property if i dont drive ?

Malik Cole
  • Germantown, MD
Posted

hi i am a new real estate investor and i am having a hard time finding a property and i dont drive any advice 

Most Popular Reply

User Stats

8
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8
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JRD Mondial
  • Real Estate Investor
  • New York City, NY
8
Votes |
8
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JRD Mondial
  • Real Estate Investor
  • New York City, NY
Replied

Hey Malik,

One method you can utilize is the advance search feature on most brokerage websites. In my neck of the woods, I know I can't find, let's say 2,3,4 family homes for under $300k. If I set my max to $300k and multifamily properties start popping up, chances are they are distressed in some way. If they are grossly under what you would expect the market rate would be, chances are they may be empty and in need of serious rehabbing. I did this recently and sure enough I came across a few. Once you have identified a few online, that should cut back on how much driving around you need to do. You can plan to visit the potential prospects using mass transit. (not sure how what that looks like for you.)

But if you enjoy driving around farming neighborhoods like I do, you can rent a car using relay rides or zip car for a couple of hours. Or you can rent a bike if you don't already have one. I'm planning on buying a bike for this exact reason. Get great exercise and farm an area at the same time. And worst case scenario, you can identify pockets of neighborhoods you wan to check out and walk it. Again, burn some calories and farm, building wealth and health. Good luck.

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