Want to improve your odds at finding investment beach properties? It’s a numbers game. The more offers you make the better your chances of finding that bargain beach property. Here are 10 tips to help you find more opportunities in investment beach properties.
1. Network. Talk to as many people as possible about your business. Let everyone you know that you buy beach properties. Offer referral fees for leads that result in the purchase of a beach property.
2. Use the internet. Go to a search engine and enter the type of beach properties you are looking for, along with the city you want to invest in. You never know what you might find.
3. Ride around your target neighborhoods searching for “For Sale By Owner” signs. In a slow economy, may owners can’t afford to pay for a newspaper ad every week. You’ll find more beach properties this way.
4. Find abandoned beach properties. Now these are a little hard to come by, but they do exist.
5. Locate faded “For Rent” signs. These landlords may be willing to sell due to property management issues, especially if they are having trouble renting the beach property.
6. Speak to local bankers. Local bankers might can provide you with a list of foreclosed and pre-foreclosure investment beach properties. You can buy it before they list it with a real estate agent.
7. Pay a finder’s fee. It never fails, there is someone in every community that just seems to know when someone is happening. Offer them a finders fee for bringing you good deals.
8. Eviction notices. Do you know someone at the courthouse? Does your local paper publish eviction notices? The landlord might have just become a motivated seller.
9. Old FSBO ads. If you call on two-month-old “For sale By Owner” ads, and they haven’t sold, they may be ready to deal. Owners often give up the effort, but still would love to sell. Help them out!
10. Place ads in the local newspaper that you are looking for investment beach properties. This may generate a few calls or lead to some partnership deals with other investors.
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