To get a leg up in the real estate investment world, you have to be proactive. To find bargain beach properties, you need to be actively searching for investment beach properties. Here are ten ways that will help you be a more active investor in 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. Go online. Do an internet search for the type of beach property you are searching for. Just type in the name of the city, the price range, and other factors that match your criteria to see what is available in the market.
3. Drive through your target neighborhoods. May owners will put up a “For Sale By Owner” rather than pay for a newspaper ad every week. You’ll see more beach properties using this method.
4. Look for abandoned beach properties. Is the lawn high? Does the house lack much need maintenance? These are clear signs that the owner doesn’t want to deal with the beach property for some reason. He may be motivated to sell.
5. Search for old “For Rent” ads. Call the landlord to see if he would be willing to sell. The worst thing he can say is no. the landlord may be willing to entertain a legitimate offer.
6. Talk to bankers. You might get a foreclosed-on investment beach property cheaper if you buy it before they list it with a real estate agent.
7. Hire a bird dog. A bird dog is referred to someone you pay a fee to for finding good deals. Let them bring you deals. This works good for areas you can’t canvas on a regular basis.
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. Put an ad in the paper. “Looking for investment properties to buy,” might be sufficient to generate a few calls.