Often real estate investors believe that real estate listings are not good lead sources. They think that people with distressed properties will not have time to wait on an agent. Investors spend a lot of time and money using alternative methods to find deals. These alternatives often include staking out deserted properties, using bandit signs and 800 numbers.
Any way that works for you to locate investment properties should not be overlooked. Using real estate listings can yield better results than you might think. You can determine a certain set of things from a real estate listing. You might end up with a great investment opportunity thanks to this information.
Do not overlook free sources for leads. Use the real estate listings to help you target good investment opportunities. You should watch for these types of flags:
* Houses that have been listed for a long time are good potential targets - If a house has been listed for a long time, the owners may be getting nervous. However, they may not realize that they have options other than their realtor. They may consider your interest a lifesaver.
* Home prices that have been recently lowered - Houses with recent drops in price often are owned by people who are getting more motivated. After all, why take less money if you do not need to sell at all? The owner may need out if they have just dropped the price.
* FSBO (For Sale By Owner) houses are good targets - People selling their property themselves may have bitten off more than they can chew. They may be delighted to have any offer than gets them out of their current situation. Since they do not have to pay an agent they may take a lower offer also.
* A good sign is when a property offers owner financing - This type of financing has inherent risk. Usually it involves working with buyers who cannot get bank loans. If a property owner will take this type of risk they are likely a motivated seller.
As you can see, the real estate listings are a great source of leads. You can start spotting potential deals in your local real estate listings today.
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