Buying Investment Property How to Find Distressed Property for Sale Online by Yassine Ugazu April 17, 2020April 15, 2020 by Yassine Ugazu April 17, 2020April 15, 2020 Distressed real estate offers tremendous earning potential to investors. When approached correctly, investing in distressed properties can be an effective way to land premium assets at a very low price. Having said that, many real estate investors avoid this strategy because they assume it is too risky. Moreover, many of them seem to believe that the process of finding distressed properties for sale is a tedious one. The reality, however, couldn’t be further from these common misconceptions. In this article, we will share with you some of the best ways to find distressed property for sale. The Best Ways to Find Distressed Property for Sale Finding distressed property is fairly simple. In fact, real estate investors have a myriad of options when it comes to conducting the property search. Here is how you can identify distressed property for sale. Each of the methods outlined below will enable you to access distressed property listings in a timely manner. 1- Access the MLS through a real estate agent Most real estate investors are not sure how to find distressed properties on the MLS. After all, accessing it requires having a real estate license and the process of getting one is far from simple. Having said that, you don’t need to sift through the MLS yourself. Working with a real estate agent will allow you to tap into a nationwide database that contains all types of listings across the US housing market. Needless to say, this is a hands-off approach that is ideal for novice real estate investors who are not familiar with the process of finding distressed property for sale. Find a top-performing real estate agent in the city of your choice. Related: Everything You Need to Know About Multiple Listing Services (MLS) 2- Search an online marketplace As you surely know, the internet has made investment property search accessible to anyone. In fact, there is a plethora of sites, tools, and real estate investment software that are specifically designed to accommodate the specific needs of each real estate investor. A good example of this is Mashvisor, and more specifically, the Mashvisor Property Marketplace. This search engine grants you access to thousands of off-market listings and features a wide range of investment properties of sale. Thanks to this tool, you can find distressed property for sale in the Los Angeles housing market, Houston housing market, or any other city in the US in a matter of minutes. Moreover, relying on Mashvisor for your property search will allow you to filter homes in terms of the rate of return on a rental property– cap rate and cash on cash return. You’ll also get access to valuable property data such as cash flow estimates and rental comps. Mashvisor’s Property Marketplace Sign Up for Mashvisor 3- Look for neglected properties and find out who owns them online Another way to find distressed property for sale is to simply look for neglected properties in your area. In many cases, the owners of these properties have either chosen to sell the home off market or are willing to listen to compelling offers. So how to find out who owns a house? Much like the previous step, the answer is real estate investor sites. Once your zero-in on a distressed property for sale by owner, you can use the Mashboard to obtain all the essential homeowner data– names, addresses, emails, and phone numbers. To start your 7-day free trial with Mashvisor and subscribe to our services with a 20% discount after, click here. Related: Buying a House for Sale by Owner: 6 Tips for Real Estate Investors 4- Check property auction sites Generally speaking, distressed properties are often sold at auctions. While this might not be the most straightforward option when it comes to buying at below market value, auctions can be a sure-fire way to secure a profitable real estate investment. There are several ways to find such deals. The easiest of which is to check the real estate websites that keep up with the local auction scene. You can actually find and analyze auction properties in the Mashvisor Property Marketplace! Check them out now. Related: Real Estate Auctions: Everything You Need to Know 5- Sift through tax records An effective method of finding distressed property for sale that is seldom explored is checking tax records. In fact, this data is a matter of public record and anyone can access it either at the local county office or on a dedicated website. The idea behind this approach is that tax delinquent property owners are highly motivated to sell. 6- Check bank and lender sites Marketplaces are not the only place where you can find distressed property for sale online. As a matter of fact, you can find such investment properties on bank and lender websites. Many financial institutions advertise the distressed properties that they currently own on a dedicated hub on their sites. It is important to note that these entities don’t like to keep properties on their books and are often pressed for time when it comes to offloading them to investors. It goes without saying that savvy real estate investors stand to secure a highly profitable investment property if they manage to identify such sales at the right time. Extra Tips for Investing in Distressed Properties Ensuring the success of your distressed property investment is predicated on adhering to a number of best practices. Here are the main ones that you should consider implementing after finding distressed property for sale online: Hire a contractor to check the condition of the property and give you an assessment of the repairs it needs. Get the property professionally inspected and appraised before making your offer. Consider putting in a cash offer. If you can’t afford an all-cash offer, make sure to get pre-approved for a mortgage. Let an experienced real estate agent handle the negotiation. The Bottom Line Thanks to the various online options that are available to real estate investors, finding distressed property for sale has never been easier. Using some of the strategies that we discussed in this article will allow you to find your ideal real estate investment fairly quickly. But in the meantime, head over to our investment blog to check out some more real estate investing tips. To start looking for and analyzing the best investment properties in your city and neighborhood of choice, click here. Start Your Investment Property Search! START FREE TRIAL AgentAuctionDistressed PropertiesOff Market PropertiesProperty SearchReal Estate Tips 0 FacebookTwitterGoogle +PinterestLinkedin Yassine Ugazu Yassine is a versatile content writer who enjoys crafting compelling copies and articles about the various facets of real estate. Previous Post What Do I Need to Know About Buying a Vacation Rental Property? Next Post How to Prepare for a Real Estate Downturn Related Posts How to Motivate Unmotivated Sellers When Buying an Investment Property 50% Rule: Yay or Nay for Estimating Investment Property Costs? Should You Invest in Airbnb Nashville in 2018? 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