As a real estate investor, you have to keep your eyes and ears open at all times if you want to find the best deals. Odds are you aren’t looking to buy houses and multi-family properties at full market prices. You are looking for off-market opportunities. You are looking for direct transactions with motivated sellers. This is how you get the best return on investment (ROI).
Most business is done online, so it is important to be tapped into the real estate investment world if you want to get ahead in this business. Here are some online real estate investor resources I recommend:
1. Property Searches
Though you may be looking for more under-the-radar deals, you can still sometimes find good opportunities by searching the MLS and other public listing services. Google the markets and neighborhoods where you want to buy and scroll through listings. Search for real estate agents, brokerages and house-buying companies that might specialize in distressed properties. Join investment networks and build relationships to expand your property search potential. The more houses you are able to find for sale, the more options you will have.
2. Foreclosures and Tax Default Properties
Some of your best deals may be found looking for foreclosures and properties that have been seized because of tax defaults. Some banks and county housing departments (or sheriff departments) will have property auctions and property listings that are accessible through the proper online channels. These can be great resources if you are planning to invest and renovate. You will find great deals, but most of these distressed properties need a lot of work.
3. Social Media
Use social media to your advantage. Connect with real estate agents and other real estate investors through LinkedIn. Follow lenders and real estate professionals on Facebook. Build up your own social media presence to grow your connections and potentially attract motivated sellers to contact you.
4. Your Own Website
Develop your own website and marketing campaign as a home buyer. Let the sellers come to you with properties they are eager or desperate to sell. There are many reasons why someone may need to sell quickly and will want to work with a real estate investor (especially if you are paying cash for a quick and less complex transaction).
5. Direct Response Advertising
Run targeted ads on social media and Google. Create landing pages with specific information and offers to entice sellers to contact you. Develop contact lists and aggressive email campaigns to stay in front of these motivated sellers.
6. Property Analytics Tools
Property analytics are essential for any successful real estate investor. You have to be able to analyze the property and determine if it is worth your investment of time and money. How much ROI can it generate? Is it better to keep as a rental or renovate and flip? There are many apps, websites and other resources you can use to run detailed property analytics on any home you are thinking about purchasing as an investment opportunity.
7. Specialized Apps and Websites
There are a lot of different real estate investment apps and websites designed to help you with your property searches, analytics and other investment planning. You can also follow blogs, sign up for webinars and download white papers. There is so much information available online for real estate investors. Take advantage of it. Some of these resources are free while others may cost you some money. Do your research and figure out which will be most beneficial to you.
These are some of the online tips and resources to consider when you are investing in real estate. Whether you are a part-time investor or it is your primary business, it’s important to use every tool at your disposal.
If you are looking to buy or sell investment real estate in Los Angeles or the San Gabriel Valley, contact The HD Group today.