Real estate investors often think that they will not find leads in real estate listings. They think that people with distressed properties will not have time to wait on an agent. Investors spend a lot of time and money using alternative methods to find deals. They may spend time using bandit signs, 800 numbers and offering rewards for information on deserted properties.
But you should never neglect good sources of leads on investment properties. However, real estate listings often hold more promise than you might think. You can determine a certain set of things from a real estate listing. These things could possibly help you spot a good investment.
Do not overlook free sources for leads. Use the real estate listings to help you target good investment opportunities. Always keep an eye open for these flags:
* Houses that have been listed for a long time are good potential targets - For starters, it is possible that the owners are getting nervous. They might not know that they have options other than a real estate agent. They likely will consider your interest with excitement.
* Look for home prices that have just been lowered - People who drop their asking prices are often motivated to sell. After all, if you had all the time in the world you would wait for your asking price. The owner may need out if they have just dropped the price.
* A FSBO sign is a good sign - People selling their property themselves may have bitten off more than they can chew. They may be delighted to have any offer than gets them out of their current situation. Because they are not paying an agent, they may also be willing to take a lower offer.
* A good sign is when a property offers owner financing - Creative financing is an inherent risk. It frequently involves working with buyers who do not have the credit to get bank loans. If a property owner is willing to take this type of risk they are likely a motivated seller.
You can probably see now how real estate listings can be a great source of leads. Use your local paper to spot potential deals in real estate listings right away.
