Are Real Estate Listings Right for You?
Many times investors think that they will not find leads in real estate listings. They think that if people have distressed homes they will not have time to wait around for an agent. Investors often devote a lot of time and money to alternative methods of finding deals. They may spend time using bandit signs, 800 numbers and offering rewards for information on deserted properties.
Any way that works for you to locate investment properties should not be overlooked. However, real estate listings often hold more promise than you might think. A real estate listing will help you determine certain things. These things might help you decide whether a listing is a good potential investment.
Do not overlook free sources for leads. Use real estate listings to help you find good investment properties. Keep an eye out for the following flags:
* Houses that have been listed for a long time. - The owners might be getting nervous if a house has been listed for a long time. 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.
* 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? A drop in price can be an indicator that the owner needs out.
* FSBO (For Sale By Owner) houses are good targets - Selling a property on your own can be overwhelming. They may just be happy to be out of the situation that they were in. Since they are not paying commission they may take a lower offer.
* Check out properties that offer owner-financing - Creative financing is by its very nature risky. It often involves working with buyers who do not have the credit to get bank loans. A property owner who will take this risk is often a motivated seller.
It is probably clear now that real estate listings are a great source of leads. Use your local paper to spot potential deals in real estate listings right away.