Let’s start by stating the obvious, finding off-market deals is not easy, in fact in requires some work and dedication but if you look deep enough, you will find those great deals. Let us share some of those ways where you can find some off-market deals that will get you one step closer to achieving your goals.
- Driving for Dollars
Driving for Dollars is a common method of generating off-market real estate deals.
Although all you need is a car and a pen and paper or post-it notes, this isn’t the cheapest approach to obtain leads.
Simply drive through communities looking for suitable residences that appear to be in need of repair.
The following are some immediate indicators of a distressed property:
- Roof tarp due to water damage
- Windows that are boarded up
- It’s in bad shape, and it’s falling apart.
- Eviction notifications, nuisance abatement notices, and condemned notices may be put on the door.
- Violations of the Vacant Property Code, such as unkempt lawns and bushes
- Renting trash cans outside of the building
- Damage from a fire
- Damage to the Structure
When you come upon a property that appears to be in need of repair, you have a few options:
- Door Knocking
Knocking on the homeowner’s door immediately away is the most efficient technique to create trust and establish a relationship with them.
It’s something most of your competitors won’t do, and it gives you an immediate advantage over everyone else attempting to market to the seller.
The personal touch is sometimes the finest.
Developing relationships with distressed property owners is an easy approach to position yourself at the top of their list as a buyer.
Leave a note for them or send them a letter.
You may tape a post-it note or a handwritten letter to a prominent location.
You may also make a note of the address and send them direct mail.
Another option is to enter them into your REI/kit CRM and begin a YellowLetter campaign with them.
Keep a journal of the properties where you left notes and track them through time, returning to them on a regular basis and writing new notes.
This is vital for your own records, as well as for following up with the homeowner and building a stronger connection.
When you’re driving for dollars, you may utilize the REI/kit CRM to Skip trace a property’s information.
You may look up the property on the app, and it will look up the owner’s details based on the address.
All of the tactics listed above have shown to be successful in locating investment homes.
You’ll see that creating a relationship with the property owner is a recurrent thread.
Investment possibilities abound, and a smart buyer understands how to build relationships in order to get to the top of the seller’s priority list.
- Bandit Signs
You’ve probably seen these “We Buy Houses” signs on street corners, and whether you think they’re a good idea or not, they’re cheap and effective.
Before you begin, remember that you are hanging these signs at your own risk.
Cities typically dislike them, so you should check the city regulations first to see whether any rules or limitations apply to you.
TIP: For your signage, don’t use your personal or business phone.
You’ll need a third-party APP or Google voice number.
To Start off with a 2nd phone number CLICK HERE to Try Buner
Depending on how much time and money you have, you may make and hang your signage in a variety of methods.
Let us share some examples
Bandit Signs can be made or purchased.
Posterboard and marker work if you have a lot of time, and you won’t lose a lot of money if city personnel (or rivals!) tear them down.
Black plastic signs with yellow, or orange and yellow, writing, sized 1824 or so, are more durable possibilities.
You may utilize catch phrases to attract people’s attention, phrases such as “Any Condition” or “All Cash”
Experiment with different combinations to discover which ones receive the best reaction, then improve the remainder of your signage based on your findings.
Build a team
Try running a “Help Wanted” ad to locate someone to hang the signage if you want to automate your operations.
Give these people a map of the area and instruct them to photograph each sign so you know when and where they were placed.
It’s crucial to keep track of your progress so you can assess your results.
General Rules for Hanging
Posting near major junctions is frequently ineffective or harmful because these are the first to be seen and removed.
Posting outside of local municipal lines or in unincorporated regions is ideal.
Weekdays are best avoided since city workers are on the clock.
Saturday morning, hang signs, and Sunday afternoon, take them down.
To maximize visibility and avoid competition takedowns, post as high as possible.
Remember that this is a hazardous tactic that may not be well received by some cities and municipalities.
However, because it is a low-cost method, it may be worthwhile for you as a consumer.
- Bulletin Boards in the Community
For the benefit of their clients, many companies that cater to the local community use bulletin boards.
Laundromats, mailbox retailers, and copiers are examples of such businesses.
Place one-page “We Buy Houses” leaflets on bulletin boards at these establishments in your target neighborhood as you walk around.
Make sure your sign is large and visible, and play around with different phrasing to find what works best.
- Post Flyers in Parking Garages
Place your flyers in huge parking lots on automobiles.
Consider where your clients could be shopping, dining, or being entertained, then pay a visit to their parking lots.
These might include dollar stores, Walmarts, thrift stores, and other businesses that appeal to your target demographic.
Again, you might pay a team to distribute your fliers to enhance your results.
The more eyes your signage receive, the better, and the more possible leads you’ll get.
Here are some folks you could run into at your neighborhood hangouts:
Real estate wholesalers, hard money lenders, property investors, real estate brokers, contractors, title firms, and other real estate investors like you.
Give out your business card to everyone you encounter and let them know you’re searching for a place to live.