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The Best Kept Secret for Finding Off-Market Deals
If you want to start investing in private mortgage notes or highly discounted properties, there are a few things you can do. It’s important that you know where to go to find the right types of properties. Investing in property can be confusing unless you are working with someone you trust. The key is knowing where to find the best properties and then putting your money to work.
Vacant properties, especially those that have been vacant for longer than a year, are often for sale at a much lower price than you would think. Go for a drive and look for vacant homes, especially those that aren’t listed by a real estate agent. Once you find out who the owner is, you can see if they would be willing to sell.
Wholesalers buy properties and then turn around and bring in investors to help pay for the renovations and other types of work that may be needed. A wholesaler usually works with a real estate agent or attorneys who know of properties that need to be sold right away.
Estate agents work with probate courts and often have lists of properties that may be ready for sale as soon as probate begins to be finalized. Wholesalers are often quick to buy these properties simply because they need to be liquidated before the probate case can be closed.
When couples file for divorce, one of the stipulations may be that the marital home or other property must be sold so that the monetary assets can be divided evenly. The discounted price may be well worth your investment.
FSBO, or For Sale By Owner, workshops will allow you to meet firsthand with owners who may be desperate to sell or, in some cases, need to refinance, but can’t find a lender to work with them. This type of opportunity offers you multiple types of investments to choose from.
Pre-Foreclosure lists include names of homeowners who have fallen behind or are close to defaulting on their mortgages. If your goal is to invest in private mortgage notes, you may be able to receive quite a return on your investment if the terms are right.
Real Estate Brokers
Real estate brokers know the market better than anyone. They listen to what people say when it comes to certain types of property and ask clients to refer their friends if they ever have questions. This type of networking works both ways and benefits everyone involved.
At Invest With Ben, it’s my job to find properties and private mortgages that will offer a good return on an investor’s money. If you live in the Speedway area, I can help you find the properties at the best prices. We can work together to find out which type of investment property works for you.
Speedway, Indiana is a suburb located to the west of Indianapolis. It is the home of one of the most well-known and loved automobile racetracks in the world, the Indianapolis Motor Speedway. Unlike other residential communities in the area, it did not start out as a town or residential area. Instead, it was a planned community designed for families who were moving to the area to work in one of the many industrial plants in the area. Presto-O-Lite and Allison Engine Company were two of the biggest employers. The goal of the managers was to establish a community where cars would be the mode of transportation instead of horses.
Today, Speedway is a busy community of over 11,800 residents. It is close enough to Indianapolis for residents to enjoy the many shopping areas, recreational activities, and sporting events. Residents truly have the best of both worlds, with Indianapolis to the East and many smaller, rural communities to the west. Indiana is known for moderate temperatures unless Mother Nature chooses to take it to the extreme. The weather can be rather humid at times, but it isn’t as unbearable as many people may think. As a community in general, its close proximity to the Indianapolis Motor Speedway and Indianapolis Raceway Park has made it the epicenter for racing enthusiasts and race-related businesses.