Uncover the secret to finding great property deals! These five real estate hacks will guide you to more under-market value properties, and could potentially save you thousands.
In the whirlwind world of real estate, everyone is hunting for that golden opportunity – a property that’s priced below its actual market value. But how do you spot these elusive deals? Here are five practical hacks to help you uncover more under-market real estate properties.
1. Networking is Key
In real estate, the old adage, “It’s not what you know, it’s who you know,” rings true. Networking can open doors to opportunities that you might not find on popular property listing websites. Attending real estate seminars, joining local real estate investment groups, and even sparking conversations with real estate agents can introduce you to properties before they hit the market.
2. Off-Market Properties
Off-market, or “pocket listings,” are properties that aren’t publicly advertised. Sellers often prefer this discreet method to avoid public attention or to test the waters before officially listing their property. Establishing relationships with real estate agents or brokers will give you access to these off-market listings.
3. Foreclosure Auctions
Properties in foreclosure can often be purchased below market value. While this route is not for the faint-hearted – it often requires dealing with banks and navigating legal red tape – the potential savings can be substantial. Keep an eye on public records and local newspapers to find foreclosure auctions in your area.
4. Estate Sales
Properties sold in estate sales are often priced lower than their market value. Heirs may be keen to sell quickly and might not have a clear understanding of the property’s current value. Regularly check estate sale listings and be prepared to act swiftly.
5. Use Technology
Leverage the power of technology to find under-market properties. Real estate investment platforms and property data aggregators can provide a wealth of information, including details on distressed properties, probate cases, and tax liens. These tools can help you find potential under-market deals that may go unnoticed by others.
In conclusion, finding under-market real estate properties requires a blend of networking, knowledge, and a little bit of creativity. Keep these hacks in mind, and you might just land yourself a fantastic property deal.
Keywords: real estate, under-market value properties, real estate hacks, networking, off-market properties, foreclosure auctions, estate sales, property investment.
About the Author
Bryan Watkins is a Principal and co-owner of LRA Real Estate Group LLC, based in Mesa AZ. His goal is to be a ‘hunter-getherer’ of wise advice, value added insights and savvy clients. Search LRA commercial listings when you have a moment. You can reach him at bryan@LRAphx.com or 480.734.7878.