04 Nov How to Find Investment Properties
If you’re just beginning your journey in real estate investing, you may be wondering how to find investment properties. If you’ve always been interested in real estate and watched all the real estate shows, you may have thought, “I could do this!” Only to start looking for investment properties on popular real estate websites and not find what you’re looking for.
Well, don’t be discouraged!
Finding properties to invest in doesn’t have to be hard. That’s why we’re going to help guide you in discovering how to find investment properties.
If you’re new to real estate investing, you might be wondering where to find the best investment properties. You’re probably also wondering if you should buy in your local market or go out of state.
Well, to be 100% honest, yes you can buy property in any area that you choose, but we recommend doing deals in your neighborhood.
Why not just build your business where you are? There are so many deals out there, why stretch outside of your community?
If you're in California, why buy property in the Midwest? Sure, the properties are cheaper, but a cheaper property doesn’t necessarily mean the deals are better.
If you have looked at our QLS course in the Wicked Smart Academy, you're going to realize that we've done deals for under $200,000 that are worth over $200,000, so we've made six figures on some of these deals. In these instances, we’re usually buying the property in a very specific way, behind throwing or financing. The point is, even if properties are cheaper in other areas, you don't necessarily have to go outside of your neighborhood to find good deals.
Now, I say this because I got a quick email this morning from one of our 90-day Jump Start students. They're located in Los Angeles, and the email went something like, “Hey Zach, I just wanted to tell you about my small victory. This is the first lead that I've acquired that's in L.A. County. All my other leads were out of it, and I'm just really excited to know that I can help people in such a hot market.”
I just want you to think about that. L.A. is probably one of the hottest markets in the country, and this student has now discovered that he can help people in a hot market. And that goes for everybody in every single market out there. In the United States, Canada, or wherever you are, just be aware of where you are and start buying property there.
One of the reasons to buy in your neighborhood, especially when you’re first investing, is you have much more control of it.
Make Sure You’re Using the Right Tools
With that being said, if you have your lead flow set up, meaning you have your tools like My +Plus Leads, PropStream is another one you can get leads from–as long as you have your lead flow coming in, and you are constantly working on your scripts, and you're managing those leads through your FOB system, it's time for you just to be a little patient. As long as you have those pieces in place, working deals are coming, so there's no need to go outside your local area.
Often, you can find the best deals in your neighborhood because you know your community best. You know what the market in the area can handle and what properties are selling for. Plus, you know how you can buy and sell in your area.
Finding properties, especially in your neighborhood, doesn’t have to be complicated. It’s just a matter of knowing where to look.
Discover more about how to find investment properties with videos similar to the below on our YouTube channel.
The Top 4 Ways to Find Investment Properties
Whether you decide to start investing in your local area or out of state, you still need to know how to find investment properties. You already know that scouring real estate websites probably isn’t the best place to source properties for financially creative deals.
So where do you go?
Here’s a list of our four favorite ways to find potential investment properties.
- For Sale By Owner
- Expired Listings
- Direct Mail – Yellow Letters
- Print and Online Ads
With each of these strategies, there are pros and cons. But by following the steps we provide our students, you can have great results from all four!
If you would like to read more about how to find investment properties using these strategies, be sure to read our free ebook, which you can find on our website. You can also discover more information about all things real estate investing on our YouTube Channel.
Don’t forget! Get your free copy of our Real Estate Investor’s Blueprint. Just fill out the form to the right and we’ll email you our step-by-step guide to getting into investing and owning more homes without using your cash or credit.