If I had to pick the best 2 ways to get properties at discount prices, then I would say that estate sales is one way and out of state owners would be another way. Estate deals are owned by people who inherit the property. And out of state owners have so many headaches that they don't want the property anymore. Let's dig in!!
First let's discuss what type of property owners you should be looking for. I'm going to make this simple. Look for the following:
- A couple getting a divorce
- An Estate Sale
- Someone who is moving to another city or state because of a job transfer or a problem
- Someone who needs quick cash
- A landlord who is tired of being a property owner or who just can't deal with the tenants
- Someone who is facing bankruptcy or foreclosure
- Someone with high medical bills
- Anyone with any kind of problem and need to sell their property to get out of their situation
These are some of the types of people you are looking for. Now let me tell you a little about out of state owners and estate sales.
Out of State Owners: You can find a lot of deals by advertising to out of state owners (also called Absentee Landlords). Think about it! Someone who lives in California but owns an investment property in New Jersey can not take care of the property the right way. Even if you had the best management company out there you will still have problems. So what happens? Over time the property owner may get sick of the headaches and want to sell the property. This is where you come in!!
Some good ways to find out of state property owners is by:
- Sending out post cards
- And Newspaper advertising
I'm sure there are a lot more ways to find them, but these are the 2 ways that I find to be effective for me. If you focus your attention on advertising to out of state owners then you will find more deals than the average investor. What are some other ways to find good deals?
Estate Sales: Estate sales are an excellent way to get discount properties. Estate sales come about when someone died and a property was left to an heir or heirs. You can find these deals down at the court house. Make sure you get as much information as possible about the case. Send the heirs a letter expressing your interest in the property and wait for the phone to ring. Then you'll be on your way. Be consistent!
I recommend going down to the court house every Monday until you get the hang of it. Then pay someone else to do it for you. I believe that the key to being successful in anything is consistency, and showing others to do the same thing better than you can. Re-invent yourself! If you can show 5 or 10 people how to find deals for you then you'll make tons of money. Plain and simple!
Do you want to know more about how I use advertising to buy and flip several homes each month with no money out of pocket? Find out free here: http://www.freezerodownsecrets.com Do you want to see what techniques I use to make six figures a year in the current real estate market? Find out here for free: http://www.freezerodownsecrets.com Jamel Gibbs own one of the fastest growing real estate investment businesses in Pennsylvania. He's originally from Brooklyn New York. He became a real estate agent at the tender age of 21 years old and a broker shortly after. Jamel started buying real estate when he moved to Pa and he now has a successful investment business. He also coaches others who are interest in making massive profits in real estate. |
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