7 Ways To Find Real Estate Deals

Real estate deals still are to be had, even in a better market.  It requires daily research and keeping a close on the following:

1.  The Realtor's Multiple Listing System (MLS)

Every realtor uses this and there is no alternative.  A good realtor looks at the MLS several times a day to find good deals, and this ensures familiarity with the area.

2.  Craiglist

Desperate sellers may advertise their property on craigslist rather than listing it with a realtor on the MLS.

3.  Foreclosures

Look at foreclosures daily.  Most of them are taken back by Fannie or Freddie, but follow the property and see what local realtor ends up listing it and jump on it.

4.  Property Sales

There are services that deliver records of new deeds recorded each day.  You can learn a lot about other investor players in your market as well as the sold properties themselves.

5.  Driving Around

Sometimes this option offers the most potential to find a deal, especially in an area littered with second/vacation homes.  Look for overgrown yards or stacks of mail.  Investigate the property through local town records and you may stumble upon a ready and willing seller.  

6.  Bird-dogs

A bird-dog is someone who goes around and looks for real estate deals with substantial investment potential.  Keep in touch with a bird-dog and have them call you when the type of deal you're looking for comes on the market.

7.  Marketing

Develop a marketing plan, establishing relationships with potential sellers who will call you when they decide to put their property on the market.  

Thanks to the Bigger Pockets blog for these tips!

If you are currently looking for a good investment opportunity in the Seacoast area, give us a call or drop us an email today!

 

2 comments (Add your own)

1. Prasad wrote:
As an appraiser I am very aware of poor or lincakg data on MLS information sheets. I am in central Wisconsin and some data, such as age of a property, is only availabe from assessors who mostly work out of their homes and do not have web sites. When we get orders with short turn times we sometimes can't find the assessor. It is such a simple process for brokers, who typically have weeks of time to get this info prior to sale but do not bother. We also have a problem with brokers referring to manufactured homes as one story and no mention that it is a manufactured home because they do not want buyers to shy away from them.

Thu, September 18, 2014 @ 10:56 PM

2. hairlovelyhair.com wrote:
The first thing you and your girlfriend solhud do is complete an agreement as to the division of the property, payment are to be made by whom, who stays in the property in the event of a possible break up and other things that might solve unforeseen legal problems.It is best to do this while everyone is still speaking to each other civil. It is too late to agree to anything when the yelling start.You both may qualify for the mortgage loan and both go on the title deed. Make sure you understand the various deeds that are available and how they transfer property.In order to find out the type of loan programs you are qualified for you will have to fill out a loan application, with a mortgage broker, which you can find one in your local telephone book. Make sure this mortgage broker or mortgage banker is able to do government loans such as FHA and VA loans if you qualify for one.He will fill out this application, which takes awhile so grab your favorite beverage and sit down. Once you have completed the application, he will run your credit report which will have your credit scores. These credit scores will determine your interest rate.The amount of your monthly debt payments you are required to pay as per your credit report and the amount of mortgage you can take on based on your income will determine the amount of house you will be able to purchase.When you speak with the mortgage broker you will need the following documents to complete the loan application, there will be others, but this will get you started.#1 One month of pay stubs for each person that will be on the mortgage.#2 Six months bank statements from each bank in which you bank as well as statements from any 401K from you place of employment.#3 Two years of federal income tax along with the W-2 that match.Once he has all that he need to do he can then issue you a pre-approval letter so you can purchase a home. In this pre-approval letter will be the amount of house you are qualified to purchased. Once he gives you this pre-approval you may now find a real estate agent to find yourself a home or he might have a referral.Now make sure before you get your pre-approval you and your mortgage broker go over all your options as to the mortgage programs you qualify for, the interest rate, monthly payments. If you are getting a FHA, fixed rate, two loans to eliminate PMI like an 80/20 or one loan, if you are qualified for and approved for a 100% loan.You solhud select the loan that best suit your financ

Sat, September 20, 2014 @ 11:18 AM

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