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INVESTORS’ CORNER: Ways to find investor deals

(Part 8 of a Series)

There are literally dozens of ways to find deals. Here’s more than three dozen ways to get you started:

  1. Bandit signs
  2. Call the other people with bandit signs
  3. Your local REIA, Such as www.MetrolinaREIA.com
  4. Farm a target area
  5. Divorce Filings
  6. Tax Liens
  7. Eviction List from your county court house
  8. Smaller banks for REOs (Portfolio Lenders)
  9. Driving for dollars
    1. FSBOs
    2. For Rents
    3. Tall Grass
  10. Lawn service guys
  11. UPS/FED EX/Post Office workers
  12. Bail Bondsman
  13. Real Estate and Probate Attorneys
  14. Direct Mail
  15. Take Out a Classified Ad – We buy houses
  16. Search the Classified Ads – Real Estate for Sale or Rent
  17. Internet Classifieds
    1. Craigslist
    2. Backpage
  18. eBay and other auction sites
  19. Out of state owners list
  20. Lis Pendens (check state laws)
  21. Real Estate Agents/MLS
  22. Your Business Cards
  23. Flyers in Laundry Mats, Community Bulletin Boards
  24. Pay to advertise on neighborhood pizza box
  25. Neighborhood association newsletters
  26. Tell everyone you meet that you buy houses – word of mouth
  27. Yahoo forums/chat rooms – Be the person recommended in this area as a contact
  28. Your email signature block
  29. Use bird dogs
  30. Wholesale flippers – Lucky buys Yucky Houses, rehablist.com
  31. Give away a free report on how to fix up your house for sale
  32. Garage Sales
  33. Codes Compliance People
  34. Water/Disaster restoration people
  35. Signs on your car
  36. Yellow Pages ad (if you really want to spend money)
  37. Your own website
  38. Billboards, radio, (Too expensive for the beginner)
  39. Newspaper Delivery People
  40. Neighborhood Watch Leaders
  41. Moving Companies

Your flyers can also come in handy to have when you’re out farming a neighborhood. You want to make sure that the flyers are not going to blow off the houses and end up littering the neighborhood. You can use a rubber band to secure a rolled flyer and then use it to attach the flyer to the door knob. You can make up a flyer and print three to a page on card stock to hand out. Some people go to the extra expense of having door-hangers printed up. Nothing wrong with that, but when you’re starting on a shoestring, it’s good to go with the least expensive ways first. Print your flyer on bright (neon) yellow card stock so it will stand out.

You’ll be surprised how quickly you will learn the market value of the neighborhoods you farm. After you have been doing this for a while, you’ll be able to pull up in front of a house, do an “eyeball estimate” of the square footage, and come up with a accurate sales price. It becomes a bit of a game. You then go to the Real Estate Sales Listings (if you have access to them) to see how close you are to the actual price. Learning the average sales price of homes in your target market is the first step to finding a good deal.

JC Underwood is the director at the Metrolina Real Estate Investors Association, which provides education, mentoring, and networking for real estate investing in the Charlotte region. He can be contacted at jcu@MetrolinaREIA.org. For more information, visit www.MetrolinaREIA.org.

 

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