Introduction
Buying real estate is one of the best ways to build wealth. But buying property is a lot easier said than done. You can’t just go out and buy any old house, flat or apartment building–you have to be able to recognise a good deal when you see one. To help you out with this task, here are 3 top tips for finding great deals on property.
Buy Unsold Auction Lots
If you’re looking for a great deal, one of the best places to start is with unsold auction lots. These properties are often sold at a discount and have a motivated seller behind them; once they’ve failed to sell at auction, most other buyers will have lost interest in the property and moved onto the next opportunity, often missing that there’s still a deal to be done!
Use a Real Estate Wholesaler
Buying real estate is a lot like buying anything else. You can go to a store and buy it off the shelf, or you can find it at a discount and then sell it for more. The same holds true for finding great deals on properties: there are many different ways to do so, but one of the easiest ways is by working with a real estate wholesaler.
Wholesalers are people who find properties that they can sell to investors like yourself at a good price–and sometimes even below market value! This means you can make money without having to spend hours searching through listings online or wasting time touring properties that won’t work for your needs or budget. Plus, wholesalers will often handle everything from start-to-finish so all you need do is sign on the dotted line when they present their latest find(s).
Make a Deal with a Private Seller
If you’re looking for a property deal, it’s important to make sure that you know what to look out for. One of the best ways to do this is by making a deal with someone who wants to sell their home but hasn’t listed it on any real estate websites or gone through an agent.
Keep an eye out for homemade ‘For Sale’ boards and private newspaper advertisements; these are good indicators that there is an opportunity available and a deal to be done, if you ask the right questions and negotiate intelligently.
Knowing where to find deals is often more important than knowing how to get them.
Knowing where to find property deals is often more important than knowing how to get them. You can get a great deal on a house in the wrong location, but that doesn’t mean it’s the right deal for you.
In order for this strategy to work well, it’s essential that you do your research and find out exactly where the best deals are located in your area (or wherever else). There are many ways of going about this: Use Google Maps or Street View; ask friends who live there; look at listings online; talk with real estate agents; etc.
Conclusion
In the end, finding property deals is just like any other business. You need to know where to look for them and how much they’re worth. This can be difficult if you don’t have time or experience with real estate investing, but there are ways around it! If all else fails, hire someone who does know what they’re doing–and then let them take care of everything while you sit back and enjoy life with some extra cash in your pocket.
