Thanks to the Internet and plenty of online resources, your next investment property may be just a click away. I'm not suggesting that you should invest in properties in other states or other countries. If you're just beginning, keep it simple and invest in the markets you know best – in your own backyard. A quick search online can yield a goldmine of properties in your own market.
Top Online Sources For Finding Investment Deals
Here is a list of the site that I use personally in finding investment property deals:
Craigslist.com – just click on “real estate for sale” and type in your city and you'll get a listing of all the properties listed each day. This is also a great source for finding buyers and tenants; just click on “housing wanted” on the home page.
Zillow.com – although a terrific tool for researching values on specific properties, it's also a valuable tool for finding properties for sale in the markets that interest you.
Backpage.com – another great resource for sellers as well as buyers. Just click on your metro area to get started.
Kijiji.com – this is just like the old-fashioned classifieds section in the newspaper. Owned by eBay you simply click on your city and then select what you're looking for: homes for sale, room & roommates, etc.
Cheap Local Guerilla Marketing Technique
Here's another great way to find investment properties. It involves using a “guerilla marketing” tactic that I was doing long before it was even called “guerilla marketing” and is still one of the best tools to find properties: Bandit Signs.
These are the 18 x 24 corrugated plastic signs you see along the sides of the road at major intersections or on poles.
Believe it or not these work fantastic. In fact, the simpler you make the sign the better. Some of our best signs are made with a white background and we handprint in black marker any of the following messages along with a phone number:
“Cash in 7 days for your house”
“Don't let those other guys steal your house”
“If you don't sell me your house I'll cry”
“I buy junk property”
“Cash for clunker properties”
One of our best signs simply says, “I love to buy hood houses.” We posted that sign at several major intersections on a Friday and we had one man who owned 2 properties called us right away and we had a deal on those 2 properties the next day.
The key is to handwrite the message. It sounds crazy but people have told us that they were embarrassed by their property and didn't want to deal with a large corporation who has better looking signs. They want to deal with regular people who are local.
WARNING: City and county laws may prohibit posting signs so check with your local government before posting the signs.
I know some investors who wait to put the signs out on Fridays after 5 pm knowing that municipal workers won't pick them up over the weekends. And then the investors pick them back up by Monday mornings. But be careful they are getting wise to that.
Try it. It's cheap. Easy to do. Best of all it's proven again and again to work! Again, I only pass along what's worked so you can start making money fast.