Investing in rental properties is a great way to make money while taking on lower risk and diversifying your investment portfolio. There are many investment strategies you can implement and your success in each will depend on a variety of factors. However, the first step you take will typically be to find investment properties for sale. Finding investment properties for sale can be quite challenging, especially for beginner real estate investors. To increase your chances of finding a good property for investment, you ought to have different sources of real estate deals. So if you are wondering how to find real estate property for sale, this blog is for you. Here are 8 reliable ways of finding investment properties:
1. Ask People You Know
You can find investment properties for sale by asking the people you know like family, friends, and colleagues. Someone in your social circle may have an investment property they are looking to sell or may recommend one for you. Spread the word that you are searching for an investment property to all the people you know. You never know who may help you find your next investment opportunity.
2. Network with Other People in the Real Estate Industry
Using your real estate network is one of the best methods of finding investment properties for sale. By networking with real estate investors, wholesalers, lenders, and other real estate professionals, you can learn about investment properties that are on sale. One advantage of using your network is that you may find investment properties that are yet to be advertised to the general public. This way, you are likely to acquire an investment property at a relatively cheaper price.
To connect with other people in the industry, be sure to attend local real estate forums and join investment clubs. After building a good relationship with them, you could mention to them that you are searching for investment property. The better you are at networking, the higher your chances of finding investment properties.
Related: How to Build and Maintain a Real Estate Investment Network
3. Work with an Experienced Real Estate Agent
Another reliable way of finding investment properties is to hire a real estate agent. Real estate agents are professionals with real estate knowledge, experience, and connections which makes them a good source of real estate deals. They also have access to different real estate resources that may help you find investment property easily.
However, it’s important to understand that not all real estate agents will be a good fit for you. Real estate agents usually specialize in different property types. Make sure you find a real estate agent that has experience with investment properties and is familiar with your target real estate market. You can check out Mashvisor’s list of licensed real estate agents here.
Related: 11 Ways to Find a Residential Real Estate Agent for Buying Investment Property
4. Use Real Estate Investor Websites
The internet has revolutionized many things, including the process of finding investment properties. Visiting real estate investor websites is a great way for finding investment homes from the convenience of your digital devices like a laptop or phone. They allow you to search for different investment property types in your target location. However, there are many different real estate investor websites each offering different services.
Apart from providing investment property listings, a good real estate investor website should enable you to estimate real estate return on investment. With that said, using Mashvisor is the best way to find investment properties in the US property market. Mashvisor’s real estate investment tools use traditional and predictive analytics to help you find good rental properties for sale. You can use our tools to perform real estate market analysis and investment property analysis for both traditional and Airbnb rental properties.
Start your investment property search today with Mashvisor.
Related: What Are the Best Real Estate Websites That Every Investor Needs to Know About?
5. Check Out Local Print Media
The process of finding investment properties is not always complicated. Finding real estate investment properties can be easily accomplished by searching for advertisements in local print media. Advertisements for investment properties for sale in the area can be found in local newspapers, magazines, brochures, and other local marketing publications.
6. Attend Real Estate Auctions
Real estate auctions are another reliable way of finding investment properties for sale, particularly off-market homes. Through real estate auctions, you can learn about distressed properties for sale like foreclosures and real estate owned properties (REOs). Therefore, you are likely to find investment properties at discount prices. The downside of real estate auctions is that cash is typically the only acceptable financing option. You can find real estate auctions through a variety of sources like online auction websites, private auction companies, Sheriff sale auctions, etc.
7. Give Direct Marketing a Try
Direct marketing is also one of the most widely used methods for finding investment properties. It involves contacting potential property sellers through direct mail, sending letters or postcards, cold calling or online marketing like Facebook and Google ads. You can create or buy a list of qualified leads to target in your marketing. The disadvantage with this avenue for finding investment properties is that it can be expensive and time-consuming.
Related: How to Find Out Who Owns a Property for Off-Market Deals
8. Consider Driving for Dollars
Driving around target neighborhoods is an effective way of finding investment properties, especially distressed properties. To successfully use this method, you need to pick your target neighborhoods carefully and know what to look for. For instance, watch out for abandoned properties with overgrown yards and closed windows. However, the driving for dollars method is time-consuming.
The Bottom Line
There are many ways of finding investment properties for sale that investors can explore. Using a variety of resources in your property search will give you the greatest chance of finding a good investment that meets your criteria. However, keep in mind that it takes more than just finding investment properties for sale. You need to look at the numbers. Always remember to use Mashvisor for your analysis to estimate the profitability of the neighborhood and the investment property before making an investment.
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