Hello all, I am just getting back into REI. It seems the area is saturated with “we buy houses” signs and all the new software to find motivated sellers, probate, vacant properties etc. Can anyone give some direction on finding deals these days? Thanks in advance!!!
I think that “working the hood” is an awesome way to find product. Here is how:
Post a “memo” (“I need to buy 1 house in this neighborhood, call me.”) on bulletin boards in the community that you want to buy in. These cork boards sometimes are found in: laundromats, churches, senior centers, community centers, even convenient stores. Talk to the neighborhood home owner’s association leaders (or block captains if in urban markets) and let them know what you want to buy. They often know “everything” about the area and the neighbors. Visit the local charities (Habitat for Humanity, churches, etc.) as they sometimes receive properties as donations and they might sell them to convert the donation to cash. Just stuff that I have used, good luck, Rob
Driving for dollars is the best way to start if you are on a budget. It gives you a very unique list to market to. The next question is how do you reach out to them. I found text messaging to be a good medium but I think the carriers are cracking down and the channel is getting saturated. You probably want to do a combination of postcards and cold calling.