Why Investors Often Overlook Real Estate Listings
Oct 17th, 2009 by Reading and Writing
Real estate investors often think that they will not find leads in real estate listings. 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.
But you should never neglect good sources of leads on investment properties. However, real estate listings often hold more promise than you might think. There are certain things that you can determine from a real estate listing. Spotting these things could lead to a good investment opportunity.
if they are good, do not neglect free sources of leads. Use real estate listings to help you find good investment properties. Always keep an eye open for these 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. Your contacting them could be a lifesaver as far as they are concerned.
* Look for home prices that have just been lowered - Houses with recent drops in price often are owned by people who are getting more motivated. After all, if they had time to spare then they would wait out the buyers. If an owner needs to get out, a drop in price may be an indicator.
* A FSBO sign is a good sign - It is possible that FSBO owners are getting overwhelmed. They may be delighted to have any offer than gets them out of their current situation. They also may take a lower offer because they are not paying commission.
* Properties that offer owner financing have big potential. - Creative financing is an inherent risk. It often involves working with buyers who do not have the credit to get bank loans. If a property owner will take this type of risk then they may be a motivated seller.
You can probably see now how real estate listings can be a great source of leads. Use your local real estate listings to spot some potential deals today.
