While it’s easier to look through the multiple listing service, or MLS, for available real estate, you won’t find every available property listed with these services. It’s typically up to the property seller to determine how and where they want to sell their property. If you want to make sure you don’t miss out on a tempting investment opportunity, you can find unlisted properties in many different ways.
Network With Other Investors
This option requires advanced preparation, but it also provides more advantages to savvy real estate investors. You can start by joining online communities geared towards investors, such as Facebook or LinkedIn groups, enabling you to network with a larger group of investors. This will help you learn about properties that will soon become available, including those that won’t be listed with traditional agents. You’ll also learn about public events, such as conventions and seminars, that can help you grow your success.
Work With Real Estate Agencies
When you work with an established real estate agent, you can benefit from their expertise and knowledge of the local market. When you work with an agent, one of the great benefits is getting to see properties that will soon be listed for sale. This can help you make an early offer on the market to get a jump on other investors in the area.
Reach Out to Contractors
It’s not uncommon for property owners to scrap a project that becomes too costly or too time-consuming. In those cases, the contractor is left out of work, but with the knowledge of an impending sale. Adding construction workers and other contractors to your networking circle can help you discover these types of situations, allowing you to make an offer on an abandoned project.
Attend Public Auctions
After lenders foreclose on a property, they have to sell it to recover their losses, and the best way to do this is to sell the property in an auction. Attending auctions can help you discover properties that you might not otherwise know about and obtain properties at prices below their market values.
In general, the key to finding off-list real estate is to connect with others in your community, particularly with those who share your interest in real estate. This will help you find out about real estate before it hits the market, or it can help you find properties that won’t be traditionally listed.