You make money in real estate when you buy, not when you sell. So, successful real estate investors know how to find deals and don’t settle for overpriced properties. In this episode of The WealthBuilders Podcast, you will learn how to find real estate deals in today’s market.
What is a Bargain Property?
A bargain property is a piece of real estate that is purchased for less than market value. This enables you to make a short-term profit, such as with wholesaling or fix and flips, or a long-term profit, such as with a buy and hold.
7 Keys to Finding Real Estate Deals
1. Talk to People
Your greatest resource may be closer than you think.
2. Leverage Internet Research
3. Drive for Dollars
Visit neighborhoods to determine rentability.
4. Look for Abandoned Properties
Homes in disrepair often indicate a motivated seller.
5. Talk to Local Banks
They can offer rates that the big banks can’t.
6. Look for ‘For Rent’ signs and FSBOs
If a homeowner is willing to rent or sell a property, it often means they are a motivated seller.
7. Know the situation of the seller.
You can pay less for a property if you’re able to meet other needs.
For more tips, as well as what to look for in a bargain property, be sure to listen to the corresponding episode of The WealthBuilders Podcast!