How to Find Off-Market Properties in 2020 to Invest in?
Sure, you can search Twitter, go through countless posts, and find a thing or two about off-market properties in your state or city. But then are those Tweets trustable? Moreover, are those properties right for your portfolio?
Finding off-market properties isn’t the end goal. Finding the “right” off-market properties that ideally suits your needs is what you need.
In that context, discovering off-market properties is a challenge.
But then with all the perks that it assures, it’s a challenge worth taking.
Here are three ways how to find right off-market properties in 2020 to invest in:
- Drive around the neighborhood (and keep your eyes open)
This old-school technique is still just as effective. For those who lack the resources and knowledge, this is real estate investing for beginners 101.
Get in your car and drive around your town or city.
Look for properties that are vacant and evidently distressed. Look out for sign boards.
Jot down the addresses and details.
Once you have a list of prospective properties that could be up for sale, find out their owners using county records and online resources. If needed, ask the neighbors around those properties.
After you have the details of the owners, connect to them, ask them some essential questions, and then determine whether you can purchase the property or not.
The process is sure labor-intensive – but it’s cheap and quite straightforward.
- Contact residential real estate investment companies
If you aren’t necessarily thrilled about putting in the work, you can simply hire one of the residential real estate investment companies.
These companies tout large networks of investors, sellers, and builders. They understand the market much, much better. Their professionals have an intensive record of the properties in the city or state or even of properties in a different country if you have approached international real estate investment companies.
So, on the back of their wider market reach, they know plenty about off-market properties. Having them by your side is always a good idea.
- Leverage on your network of real estate investors
One of the biggest benefits of networking with other real estate investors is that it enables you with market information.
Recommended Read: Why Networking is So Important in Real Estate?
You talk to other market players and unearth new resources. After all, when it comes to discovering off-market properties, word of mouth dominates.
So, talk to your investor friends. Ask them to talk to the people in their own circles. Together, you’re more likely to find very good properties that aren’t listed than just doing it alone.
And in case if you don’t network with other investors, you might want to start now.
These are three straightforward ways to find the right off-market properties in 2020 to invest in.
Admittedly, when trying to find such pieces of real estate, it’s not going to be easy. You will have to put in some effort. If you do it sufficiently, you can take your portfolio to newer heights.