It should come as no surprise that real estate investors are looking to find properties that they can buy on the cheap. These investment properties are typically purchased below market value when possible. Or sometimes the entire market will take a dip in prices and these lower valued homes are great investment opportunities for when the market turns around.
In an effort to make the highest rate of return on your investment, you’re going to want to find these properties when the market is operating at a lower value. But for many of you, you might find it difficult to discover the top real estate available when the market is “on sale.”
To help you find great low-cost properties when the market takes a dip, we’re going to share our strategy with you below. So stick around to discover some poignant and powerful ways to find great properties at low prices.
Get to Know Real Estate Attorneys
Believe it or not, real estate attorneys are an excellent asset for every real estate investor. They have inside information about people who are looking to sell their property and get paid quickly for one reason or another. These attorneys can point you in the right direction of people looking to unload their houses, buildings, and commercial rental spaces ASAP.
So, if you do not know any real estate attorneys at the moment, as an investor it’s your job to get to know these people better and do so as quickly as possible. They can help you find homes that are selling very cheaply and below market value, even in a market where prices are already lower than normal.
Take time to connect with local real estate attorneys in your community. Get to know them better at community events, invite them out to lunch or dinner, and create relationships that can provide great leads now or in the future.
Searching Public Records
Using public records to your advantage is a great way to discover low cost real estate in any market, whether it’s flying high or in the middle of a dip in prices.
Local newspapers and government websites can point you in the direction of foreclosures that are about to happen. You can go to your local County Clerk’s office to find out the latest foreclosure filings in your community.
At the end of the day, accessing public records is the smart way to discover cheap yet valuable properties in distress. So search public records often to find great deals.
Real Estate Auctions
Buying distressed properties at real estate auctions is a great way to buy homes for well below market value. Depending on how much is owed to the mortgage company, you could end up buying some real estate at auction for practically nothing. So check with the local courts and learn about foreclosures in the newspapers and begin bidding on fantastic real estate for low, low prices.
Buying below market value real estate is easier than you think. Use the information we’ve shared today and you’ll have no trouble discovering great properties selling at distressed prices.