1. Find distressed homes in your neighborhood
In 20 minutes or less you should be able to drive a few blocks, find some potentially distressed homes, pull up owner contact information, and hit the post office to drop some letters of interest or offers to them.
Can be your neighborhood, a target area close by, etc.
Look for overgrown landscaping, fire damage, code violation notices, signs of being abandoned, etc.
Look up the owner on Google and the property appraisers site, shoot off a form letter.
This can be short and sweet – and simply write – “I’m interested in buying your home at this address. Give me a call at this number so that I can confirm how many bedrooms and baths it has and can make you an offer.”
Bam, you’re done
2. Craigslist
Hundreds, probably thousands of properties are listed on Craigslist every day.
Find them in the housing section – under apartments and housing, housing swaps, real estate for sale, and sublets or temporary.
Call, text, or email them with a similar letter, and get them to contact you.
Or throw out low ball offers to get their attention and start negotiations. If you know local properties are selling for around $100,000 on average. Offer $60k. Or $70k if they will finance it with $2,000 down.
No reason you can’t find 5 or more of these deals daily, even with owner financing, or at bargain basement prices
3. The MLS
Deals can be found on the MLS
Set up alerts to new listings based on your criteria
Check those updates every morning
Send out a template offer to start the negotiation process
You can simply use Realtor.com to spot new listings.
Or have a Realtor do this for you, and then let them work the deals if they find good ones.
Or get your own real estate license so you can see the detailed view including any bonuses being paid in commissions.
4. Real Estate Auctions
There are plenty of real estate auctions online now
Just Google “real estate auctions” and you’ll find at least half a dozen sites to bid on
Once registered, you can hop on and fire off offers on 5 or more of these a day
5. Builders
This may seem like an unconventional source, but it can work in almost any market
Bigger home builders need to pre-sell blocks of properties to raise financing. Once nearing the end of a project they want to cash out and move on to the next fast. Both ends can be an opportunity to negotiate discounts
Small builders can struggle with cash flow, and are at high risk every day. A fast sale or contract can help them cash out and move on
It shouldn’t take more than 20 minutes to call a few new builders and have them email you their best deals
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