Off-market properties are not being actively marketed for sale and are usually only available through a select network of agents or investors. The best deals are often found off-market because there is less competition from other buyers.
If you’re looking for the best deals on investment properties, you’ll need to know how to find off-market listings. Off-market properties are not listed with real estate agents and can often be purchased below market value.
Here are some of the best ways to find off-market property deals:
Real Estate Agents and Brokers in the Area
The first place to start your search for off-market deals is with real estate agents and brokers in the area. These professionals have access to additional information on MLS listings, which is not generally available to the public.
Often, agents will know of properties that are about to come on the market or properties that are being sold privately without being listed. Real estate agents can also provide you with information on properties that have recently sold in the area, giving you an idea of what type of deals are available.
If you’re working with a real estate agent, be sure to let them know that you’re interested in off-market deals so they can keep an eye out for listings that match your criteria.
Local Builders and Contractors
Another great way to find off-market deals is to network with local builders and contractors. These professionals are often aware of properties that are about to come on the market and properties that are being sold privately.
Wholesalers are investors who specialize in finding deeply discounted properties. These properties are often in need of repairs and renovations, so they’re being sold at a discount.
Real Estate Auctions
Another great way to find off-market deals is to attend local real estate auctions. These auctions are often public, which means that anyone can attend and bid on properties. Investors interested in purchasing properties at auction should do their research beforehand, so they know what to expect.
Direct Mail Promotion
One of the best ways to find off-market deals is to promote your investment criteria directly to motivated sellers. You can do this by sending out direct mail campaigns or placing ads in local newspapers and online classifieds.
When promoting your investment criteria, include your contact information and a brief description of the type of properties you’re interested in. You may also want to include a picture of a property you’ve recently purchased or renovated to give sellers an idea of what you’re looking for.
Now that you know some of the best ways to find off-market deals, you can search for investment properties. Keep in mind that it may take some time to find the right property, but the effort will be well worth it when you can purchase a property below market value.