1. Real estate brokers and agents

Having several real estate agents scouting properties for you is one of the most effective ways to quickly and efficiently identify potential properties that can be flipped. I must stress that it is critical to your success to ensure the competency level of the brokerage team you put together. I have worked with many brokers and agents whose range of expertise and experience varies greatly.

2. Classified advertising

Almost all newspapers carry a section in their classified advertising specifically for selling real estate. Most homes listed for sale in the newspaper by agents are active listings and will typically be priced at full retail. You might notice some ads that use keywords like "motivated seller" or "must sell, owner transferring." These types of classified advertisements are worth following up on.

3. Real estate publications

Almost all areas periodically publish books or magazines specifically designed for residential real estate sales. These real estate publications can be a very good source for locating potential deals. You will also find many helpful real estate-related advertisers in these publications - real estate agents, mortgage companies, appraisers, surveyors, title companies, real estate legal services, and insurance companies.

4. Local and national web sites

The most comprehensive and well known web site is hosted by the National Association of Realtors. You can find it at www.realtor.com. Realtor.com boasts over 2 million listings for various types of properties, including single-family homes, condominiums, town houses, multifamily apartments, mobile homes, vacant land, farms, and rentals. Other good Internet sources include your local newspapers. Almost all major newspapers now list their entire classified section
on web sites.

5. Associations and real estate investment clubs

Most cities have a number of real estate investment-related associations and clubs. These clubs provide an excellent opportunity for you to network with others who share similar interests. Members often include investors like yourself, real estate brokers, tax and real estate attorneys, architectural engineers, appraisers, and other real estate professionals.

6. Bank REOs

Most people don't event know that REOs exist. Banks certainly don't promote the fact that they've had to foreclose on real estate, which is now listed on their books as a nonperforming loan. Banks divest these properties through a network of private investors who have expressed an interest in them and also through real estate agents. The network of private investors can include anyone, like you.

7. Marketing

Some of these include advertising in newspapers and magazines, implementing a direct mail campaign, using signs, and doing a broadcast fax. Another very effective method of promoting your company is to implement a direct mail campaign. Your direct mail piece should be targeted to the people who can best help you-real estate agents.

8. For sale by owners (FSBOs)

This group of homeowners represents an important segment of the potential properties available to you, so be sure to give them the attention they deserve. They can be located by looking through the classified section of your local newspaper or by driving through neighborhoods and looking for FSBO signs. FSBOs all have an idea of how much they think their houses are worth, but in reality, their houses are usually priced too high or too low.

9. Vacant properties

As you drive through neighborhoods in your search for investment opportunities, be sure to pay special attention to those houses that appear vacant. Vacant houses are more of a liability than an asset for their owners, so they are oftentimes available at bargain prices.

10. Foreclosures

Buying and selling foreclosures requires an individual to have a working knowledge of that market. An investor who understands the process of buying foreclosed properties can potentially make substantial profits. Buying foreclosures, however, is not as easy as many would have you believe. The investor participating in this market must have specialized knowledge, patience, and enough investment capital to be successful.

More info on your stop foreclosure information search:

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