Introduction
Buying real estate is a great way to build wealth. If you want to find off-market deals and make the most of your money, here are some tips that will help.
Direct-to-Vendor Letters & Leaflets
Direct-to-vendor letters and leaflets are a great way to find off-market deals. You can target specific areas or types of property, such as flats below £100k or houses in the South East.
We’ve seen good examples of direct-to-vendor letters and leaflets that have been successful in finding off-market deals.
Word of Mouth – We Speak to Accountants
If you’re looking for off-market deals, it’s time to talk to your accountant. Accountants often have wide client bases, often including property. They know their clients and may be prepared to make introductions to those looking to sell properties in your target investment area.
The best way to approach an accountant is by being friendly (and if possible, offering them some kind of introductory fee). You could ask them if they know of any landlords considering selling and if they’d be interested in grabbing a coffee to see how you might work together.
Investing in Repossessions
Investing in repossessions can be very rewarding. With that said, there are some things you need to know before getting started:
- Find out which banks are selling properties at auction. You can do this by searching online or calling up a local branch of your favourite bank. Banks will sometimes list their upcoming auctions on their websites–so if nothing shows up there, try calling them up!
- Get access to lists of properties that are going up for auction so you can bid on them before anyone else does! This is usually done through portals like EIG Property Auctions who consolidate auction listings for real estate investors.
Online Classifieds
If you’re looking for an off-market deal, it’s important to check the classified ads in your local newspapers and magazines. You can also ask your friends and family if they know of any properties that are available but not listed on Rightmove or Zoopla. The same goes for estate agents; if you know someone who works at an agency, ask them about any properties that haven’t been listed yet.
The key here is to find out what’s happening in your area and who might be aware of deals that haven’t hit the market yet!
Get Your Team Involved – Offer Cash for Leads to your Builders
It’s important to get your team involved in the process of finding off-market deals. Your team can help you find leads, which will lead to more opportunities for you. One way to do this is by offering cash for leads to your builders who are spend every working day often in different properties.
They get to hear of which landlords are thinking of selling – they may even be working in a property right now that is being done-up to be sold. If you can strike a deal with the owner before it goes to market, you may be saving that property owner thousands in fees that he might not need pay to a real estate agent!
Owning real estate is a great way to build wealth. Use these tips to find off-market deals
As a real estate investor, you know that owning real estate is an excellent way to build wealth. However, most people don’t know that it’s possible to find deals that are not on the market. You just have to be willing to put in the work and take action!
Here’s the key formula to finding off-market deals:
- Pick at least one of the above campaign strategies.
- Commit and run with it for 3-6 months (at least).
- Measure your response rate during this time period.
- Adjust according to your results before moving onto another campaign.
- Do more of what works.
- Change your message or target if the campaign needs tweaking.
Conclusion
If you’re looking for a new investment, it can be frustrating when all your efforts to find something seem to be in vain. But there’s hope! We know that there are plenty of off-market deals out there waiting for buyers like you. The trick is knowing how to find them.
