One of the most crucial aspects of real estate investing is finding good deals. However, in today’s competitive market, finding good deals is not very easy. Good real estate deals won’t just fall into your lap. So how do you build a competitive advantage?
You have to understand that finding good real estate deals is mostly a numbers game. You need to look at a lot of properties to find a good one. Many investors make the tragic mistake of relying on one strategy to find investment properties for sale. The most successful real estate investors are those that know how to find incredible real estate deals before everyone else by using a variety of effective real estate lead generation strategies.
If you want to learn how to find real estate deals in 2021 like the pros, keep reading.
15 Ways to Find Real Estate Deals in 2021
1. Let Your Social Circle Know
One of the easiest and most effective ways to find real estate deals is to inform everyone you know that you are buying real estate. Tell friends, family members, colleagues, and other social group members.
Get into the habit of telling those around you that you are looking for real estate deals. Even if they aren’t selling themselves, they might know of someone who is looking to sell. If they know you as someone who buys houses, you will be at the top of their mind when an opportunity arises.
2. Network with Real Estate Professionals
You can also find real estate deals by networking with other professionals in the industry. There are a number of professionals who have access to off market real estate deals. This includes local realtors, contractors, mortgage brokers, property managers, real estate attorneys, lenders, wholesalers, and other property investors. Basically, anyone in the real estate industry can be a good source of leads.
Join local real estate investment clubs and attend local real estate meetups and tell people what you do. Over time, your real estate network will become your biggest source of great deals. Since real estate is a relationship business, if you want to build a great real estate investing career, networking is a must.
3. Search on the Multiple Listing Service (MLS)
The most popular way that people find investment property for sale is through the MLS. It’s where real estate agents list the properties they are trying to sell for their clients. Since the MLS is not accessible to the public, you have to be helped by a real estate agent with access to the MLS.
The problem with this traditional method is that there is a lot of competition and you are likely to get into bidding wars. However, if you work with a competent agent and have a pre-approval letter, you can still find good real estate deals in this way.
4. Work with a Real Estate Agent
Real estate agents can help you find real estate deals beyond the MLS. Through their network and experience, agents who are familiar with the local housing market will often be aware of off market properties that are about to hit the market. Be sure to find a real estate agent with investment property experience.
5. Try Direct Mail Marketing
Direct mail marketing is another great way to find off market deals. This strategy requires that you send out postcards or letters to homeowners, letting them know that you want to buy their home. The truth is that some homeowners may not be thinking about selling their homes until they are presented with an enticing offer. However, this strategy requires patience and persistence since you may not get a response right away.
6. Take Advantage of Social Media
Social media marketing is one of the best ways to market to a mass audience. You can get valuable real estate deals by creating a social media page for your business and being active. To grow your following, be sure to post blogs and helpful information to your feed regularly.
If you don’t have social media pages set up, you can simply join real estate groups. There are lots of Facebook groups, for example, where sellers and agents advertise their properties for sale.
7. Use the Driving for Dollars Strategy
Driving for dollars is one of the most inexpensive and timeless strategies. You can find undervalued properties by simply hopping in your car and driving around the neighborhoods you want to invest in to hunt for distressed properties. Look out for vacant homes with peeling paint, drooling gutters, overgrown grass, broken windows, missing shingles, etc. These are some good signs that the owner is struggling to maintain the property and may be motivated to sell it below market value.
Note down the address to find out who owns the property and contact them to express your interest.
8. Check Out Real Estate Auctions
Another way to find off market properties that are selling at a discount is to look out for auction properties. You can find foreclosed and REO properties near you by attending local real estate auctions. You can also scan a number of online auction websites such as Auction.com. However, keep in mind that these properties are sold “as is”, which can be risky. They also involve a lot of paperwork and often need to be paid for in cash.
9. Look Through Public Records
Public records will typically feature short-sales and pre-foreclosures. Savvy real estate investors know that these properties can be lucrative real estate deals and will stay current on public records.
You can go to your county courthouse to survey public records. It may be the source of your next deal.
10. Visit Craigslist
Consider searching for real estate for sale near you on Craigslist and reaching out to the owners. By doing this regularly, you can find potential deals. There are many sellers who list their homes for sale on Craigslist to avoid paying real estate agent fees.
11. Look for “For Sale by Owner” Signs
People who want to save money when selling their property may place FSBO signs at strategic places such as at shopping centers and busy intersections. Since such properties aren’t marketed well and sellers are usually motivated, they can be a source of good real estate deals.
12. Advertise in a Landlord Magazine
If there is a local landlord magazine or trades newspaper for your area, you can post an ad there looking for real estate deals. By targeting landlords, you are likely to find one who is looking to sell their property.
13. Create a Professional Website
One great way to leverage digital real estate marketing in 2021 is to create your own website. The website should be professional and clearly detail what you do. It should also be search engine optimized so that it ranks highly.
14. Write a Blog
Content marketing is a great way to bring traffic to your website and generate more leads. Consider publishing regular blogs that offer helpful information to your local community, particularly homeowners looking to sell. Don’t forget to mention the fact that you buy property.
15. Use Real Estate Websites
There are a number of real estate websites where you can do an online property search. One of the best online real estate marketplaces is Mashvisor. This real estate investment software helps investors to easily find the best real estate deals in the US housing market.
Unlike most other real estate websites, it does not just provide property listings. With Mashvisor’s real estate investment tools, you can also analyze the profitability of markets and investment properties for sale. You will be able to search and analyze both traditional and Airbnb investment properties in just a matter of minutes. As an investor, if you want to be successful in the US housing market 2021, be sure to use our tools for your investment property search and analysis.
The Bottom Line
Knowing how to find real estate deals is an important skill for every investor. Most investors who depend only on the MLS don’t realize that most of the real estate deals never even hit the MLS. The key to finding great real estate opportunities is to implement several marketing campaigns. Remember to also evaluate your marketing efforts and strategies consistently and make improvements.