You want to find the perfect property for your next fix-and-flip or rehab investment, but so does everyone else. When you are up against a handful of other real estate investors looking for their next project, it can become challenging to find the ideal property and snag it before anyone else does. It seems that the moment a home is on a Multiple Listing Service (MLS), it is gone within moments.
Well, an MLS is not your only option for finding that perfect real estate investment property. You have other ways to find properties before anyone else; it just takes some time, creativity, and drive.
Network With Real Estate Agents
As a real estate investor, you should understand how important networking is in your space. Your best bet for finding a property before anyone else is to network with a well-connected, local real estate agent. A real estate agent like them will have a cultivated network and pocket listing intel. They will also know other real estate agents or firms who might have information on the area you are looking for. When you make friends with real estate agents, you gain access to a plethora of properties and knowledge about who the current owners are, if they are willing to sell, and how much the property might go for. It could be time to start networking.
Track Down Properties in Pre-Forclosure or Foreclosure
Whether you choose to drive around and look for signs or utilize resources such as RealtyTrac, you can find properties that are in pre-foreclosure or foreclosure. These properties are likely to sell as owners might be more willing to walk away with cash rather than go through the lengthy processes in front of them. You can find properties that have not yet been listed in bank auctions or an MLS. This can be a great route to finding homes within your budget and needing the work you are looking to provide.
Get Cozy With HOAs in Your Desired Location
If you have a location in mind that you want to invest in, it could be wise to get to know it personally. This could mean exploring the neighborhood, attending open houses, joining neighborhood groups, and getting close to the HOA. If you spot a property that catches your eye, you can inquire about it to the owners and see if they are interested in selling it or contact a real estate agent to do it on your behalf. Additionally, when you create a connection with the neighborhood’s HOA, you can be one of the first to know if a property is going up for sale and could get first grabs.
Find “For Sale by Owner” Properties
Utilizing “For Sale by Owner” platforms can give you direct access to properties that are not on an MLS or managed by real estate agents. This can not only quicken the process of purchasing the home but also get you in front of properties that are yet to be seen by other buyers. You can gain the upper hand by growing a connection with the owners and purchasing it straight from them. Purchasing a home directly from the owners might also make it less expensive as they are not working with a real estate agent.
There are many ways to find properties before other buyers, and if you are looking to invest in a fix-and-flip project quickly, a hard money loan can ensure you are not held up at the financing stage. If you have questions or want to apply for a hard money loan, contact the team at KC Investor Funding.