While talking to investors all over the country I am often asked, “Is there another way to find properties other than the MLS?” As we all know the MLS can be a great resource for finding properties. However, with today’s real estate market we, as investors, must utilize other means, in addition to the MLS, to find properties.
On way to find properties that are not on the MLS is to market to “For Sale by Owner” properties. This is a grossly under-utilized technique that can yield extra ordinary results. There are many websites out there that property owners use to market their house. A few good ones are Craigslist.org, fsbo.com, and forsalebyowner.com. You can scour these websites and look for properties that fit your investing criteria.
Another way to find houses that are not on the MLS is to ask a title company for an “absentee owners” list also known as “non-occupied owners” list. This is a list of landlords, people that have inherited property, or people that needed to move but could not sale their property and therefore had to rent it out. This list can be a great resource of potential
sellers.
The last way I want to discuss is to enlist the help of “bird dogs.” Wouldn’t it be nice to have an army of people out there looking for houses for us in their daily journey’s? Well find some “bird dogs.” One way to build an army of people is to talk with contractors, carpet cleaners, roofers, etc. and ask them to call you if they see any properties that are vacant, overgrown or the owner is motivated to sale. The nice thing about this is that you don’t pay unless you close on the property. However, don’t wait on the “bird dog” to call you. You should get their contact information and periodically contact them and ask if they have seen any possibilities lately. This will show them you are serious.
In the current real estate market we must be creative in finding properties while ALSO using the MLS. I firmly believe that a creative, out of the box thinking real estate investor will be very successful.
While talking to investors all over the country I am often asked, “Is there another way to find properties other than the MLS?” As we all know the MLS can be a great resource for finding properties. However, with today’s real estate market we, as investors, must utilize other means, in addition to the MLS, to find properties.
On way to find properties that are not on the MLS is to market to “For Sale by Owner” properties. This is a grossly under-utilized technique that can yield extra ordinary results. There are many websites out there that property owners use to market their house. A few good ones are Craigslist.org, fsbo.com, and forsalebyowner.com. You can scour these websites and look for properties that fit your investing criteria.
Another way to find houses that are not on the MLS is to ask a title company for an “absentee owners” list also known as “non-occupied owners” list. This is a list of landlords, people that have inherited property, or people that needed to move but could not sale their property and therefore had to rent it out. This list can be a great resource of potential
sellers.
The last way I want to discuss is to enlist the help of “bird dogs.” Wouldn’t it be nice to have an army of people out there looking for houses for us in their daily journey’s? Well find some “bird dogs.” One way to build an army of people is to talk with contractors, carpet cleaners, roofers, etc. and ask them to call you if they see any properties that are vacant, overgrown or the owner is motivated to sale. The nice thing about this is that you don’t pay unless you close on the property. However, don’t wait on the “bird dog” to call you. You should get their contact information and periodically contact them and ask if they have seen any possibilities lately. This will show them you are serious.
In the current real estate market we must be creative in finding properties while ALSO using the MLS. I firmly believe that a creative, out of the box thinking real estate investor will be very successful.