Here at CEB Capital, we are the funders. We give you the money you need to invest in your real estate flips or rehabs. But, you need a house before you need money, right? That begs the question: where do I find investment-worthy properties?
Since we normally meet you after you have a home in mind, we thought we would give you some hints when it comes to finding the diamond in the rough. Read on for our seven best places to find the most fruitful investment properties.
- MLS Search. While this is primarily done through a realtor, there are some websites available to do MLS searches through the database of ALL homes for sale in the areas you’d like to flip in. Realtor and Zillow are two very popular real estate search engines.
- Network. Realtors tend to be found in packs. They are always out trying to find elbows to rub and hands to shake. The more people you know, the higher your chances of getting an inside scoop. Therefore, don’t be nervous about going to local realtor network meetings (REI or BNI are two very popular networking groups). These professionals are all eager to help you find a home to flip because that means they are making money too.
- Auctions. Do you know if you have local estate sale auction company? If so, get their schedule. Follow their Facebook page and bookmark their website. Be ready. But, also, be educated. Make sure you are doing your homework and running comparables. Some deals just might be too good to be true.
- Classifieds. Not only does this mean websites like Craigslist, but also the actual paper classifieds. The newspaper can be full of ads for open houses or for sale by owner properties since newspaper is a very inexpensive way for homeowners to advertise.
- Fellow Investors. What?! Share my tricks of the trade and inside scoop with the competition? Yes. That’s exactly what we’re saying. This article from Bigger Pockets explains this concept beautifully. Investors are constantly making offers hoping that some will go through, but what happens when they all go through at once? They will need to unload properties they don’t have time to flip. That’s where you step in and scoop up the deal.