Any successful real estate investor will tell you that one of the most important parts about real estate investing is finding great deals. Ultimately, the idea is to find properties that can be purchased under market value, make some repairs, build equity, and either sell or rent the property for a profit. The big question is, how do you go about finding the good deals in the real estate investing space? Ofir Eyal Bar, a self-made real estate success, has a knack for finding great deals in the space. Here are some tips that I’ve learned by following Mr. Bars success. Tip #1: Banks Are A Real Estate Investor’s FriendBank owned properties, or REOs, are some of the lowest cost properties that a real estate investor will find. In fact, due to the overwhelming deals that are found in REOs. REOs are foreclosed properties that did not sell at auction. These are properties that the original buyer defaulted on, leading to a foreclosure, or bank seizure. As a result, the bank owns the property and will sell it in an attempt to recoup their investments. The good news is that banks are generally willing to sell for what they have in the property, which in many cases is pennies on the dollar compared to the true value of the real estate. In fact, REOs are so valuable that several websites sell lists to real estate investors. The good news is that you don’t have to buy them. All you need to do to find REOs in your area is contact the lenders in your area. Simply ask them for a list of bank owned properties that are for sale. You may have to navigate up the ladder to management, but the work will be worth it when you receive the list. Check Out For Sale By Owner Listings OnlineWhile costs will generally rise when the seller brings a real estate agent into the fray, there are plenty of listings of for sale by owner properties out there. To find them, all you need to do is a quick search on Craigslist, Facebook Marketplace, or one of the tons of other sources of classified listings online. Many old-school sellers will also go the analog route, buying listings in newspapers and putting up signs on their homes and in their neighborhoods. So, don’t forget to check out the classified ads in local newspapers for the cities that you are interested in investing in. Stroll Through The NeighborhoodAre you looking to purchase a property in a particular neighborhood? If so, it may be worthwhile to get in your car and take a drive. As mentioned above, old-school for sale by owner sellers will rent ads in newspapers and put signs up in their neighborhoods and on their homes. Some gems simply aren’t online, and the only way that you’re going to find them is to drive by them. So, consider getting in your car and driving through the area that you would like to invest in. You may come across a “for sale by owner” sign that represents a deal that you may never have found otherwise. Final ThoughtsIf you want to be successful, it all starts with making sure that you get a good deal on the investments that you make. Follow the tips above to find the best deals in the area that you’re considering investing in and make sure to follow Ofir Eyal Bar’s Vimeo channel for more! Author Bio Roger Baxter is an aspiring writer and real estate investor. When he’s not writing, you can typically find him biking, or enjoying a good book. The post Tips For Finding The Best Real Estate Investing Deals appeared first on NuWireInvestor. from https://www.nuwireinvestor.com/tips-finding-best-real-estate-investing-deals/
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AuthorHi I am Sara 30 years old from Liverpool. I am working as an assistant in a local real estate office. I like to share tips with friends and family about real estate investment. ArchivesNo Archives Categories |