Help In Finding DEALS
I'm a sumwhat newbie to the rehab business (I have two rehabs under my belt) and I am also a realtor in Ohio (Cleveland area). I seem to be having a real hard time finding deals on properties. I've been checking HUD properties, MLS listings, and FSBO's but it seems everything is overpriced. I'm trying to find REO's but having trouble. Can someone please help me out and point me in the right direction ???
Once in a while we all get slowed down or stuck on our road to envisioned success. Don't let a little bump on the road stop you on your quest, recalculate, asses, adjust and get ready to fire again:
Just to get you going now, bellow are few of my success methods that should work in your area to:
For example, have you ever sent a marketing letter:
a) followed up with a phone call,
b) followed up by a cash offer to a homeowner who has owned their home for more than 10 years with a low loan balance?
c) If you do this with 100 properties, I am more then sure that you'll buy 1-3 deals.
How about repeating the same process with soon to be sellers who has their house for rent?
My investment group bought more houses from people who have their houses for rent (at 60-70%) then using all other techniques combained!
These are just a couple of the techniques that you can start using as soon as you read this post and here is another one as well:
Have you ever played the MLS first day out or expired listing game or the MLS revision to list price game?
These techniques don't work very well in today's hot markets (on the SFR's) , but if you are persistent, you will still find deals this way. You are an agent, use your MLS setup features to work for you. be your own client and before you know you'll be again on your road to success! Keep on going!
Good luck! [ Edited by omega1 on Date 01/31/2004 ]
How do you find the homeowners with 10 years of ownership with low loan balance? Do you have a specific way of locating those???
Thank you for the input!!!