Many investors think that real estate listings will not help them find properties. They believe that owners of distressed home will not want to wait around for an agent. There are many investors who decide to spend a great deal of time and money finding leads other ways. These alternatives may include bandit signs, finding deserted properties and running 800 numbers.
But you should never neglect good sources of leads on investment properties. Real estate listings hold more promise than you might expect. A real estate listing will help you determine certain things. Spotting these things could lead to a good investment opportunity.
You should not neglect to use free sources of leads. Use real estate listings to help you find good investment properties. You can look for the following “flags”:
* Houses that have been listed for a long time are good potential targets - For one thing, 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.
* • A house that has recently had the price lowered - People who drop their asking prices are often motivated to sell. After all, if you had all the time in the world you would wait for your asking price. A drop in price can indicate that the owners need to get out.
* 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 glad to just get out of their situation. Since they are not paying commission they may take a lower offer.
* • Properties that offer “creative” or owner-financing - Creative financing is by its very nature risky. It may involve working with buyers who do not have enough credit to get a bank loan. 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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