The experienced property investor knows that there are many different approaches to finding investment property lead sources.
Dominant real estate investors make sure they have multiple lead sources at work every day of the week.
Simply put, great property investors increase their odds of success by finding more deals. So who is more likely to bag that 20 unit apartment building? An investor who looks through the MLS listings and calls it a day, or the one that has multiple lead sources?
Here are ten other ways to find investment property leads:
1. Word Of Mouth Advertising
Let people know you are looking and sometimes the properties will come to you. There are a lot of owners out there who want to sell, but haven’t yet listed their property.
2. Use The Internet
Go to a search engine like Google and enter the type of real estate you are looking for, along with the city you want to invest in. You never know what you might find.
3. Drive Around And Target “For Sale By Owner” Signs.
Owners often don’t want to pay to keep the ad in the paper every week, so you won’t see all properties there.
4. Find Abandoned Properties.
That’s a pretty clear sign that the owner doesn’t want to deal with the property. He might might just want to get rid of it.
5. Find Old “For Rent” Ads
Call if they are a few weeks old. Landlords are often ready to sell, especially if they haven’t yet rented the units out.
6. Talk To Bankers
You might get a foreclosed-on investment property cheaper if you buy it before they list it with a real estate agent.
7. Offer A Finder’s Fee.
There are people that always seem to hear about the good deals. Have such people coming to you.
8. Eviction Notices.
If your local papers publish eviction notices, or if you can get the information at the courthouse, it can be useful. A landlord who just went through the procees of evicting a problem tenant is a possible lead.
9. Old FSBO Ads
If you call on two-month-old “For sale By Owner” ads, and they haven’t sold, they may be ready to deal. Many property owners get frustrated with the process, but still would love to sell. Help them out!
10. Place An Ad In The Paper
“Looking for investment properties to buy,” might be sufficient to generate a few calls.
