Which Online Resources Should a Real Estate Investor Utilize?
Real estate investors are always looking for the best deals on properties. Of course, the best deal doesn’t always mean the cheapest house. You have to find motivated sellers. You have to get the property at a good price. That property has to be worth the investment. And, you need all the right planning and strategic pieces in place to make that investment successful.
So much of business is conducted online in today’s real estate industry. You must be able to take advantage of the resources available to you. Here are some tips we recommend:
Conduct Thorough Property Searches
Good investment properties aren’t hard to find if you know where to look. Great properties may take a little more digging. You can always look on the MLS and other public listing services. Intriguing deals might show up from time to time. You can search on Google in the neighborhoods where you want to buy. Join an investment network like PropertyLark. Search for local real estate agents, brokerages and house-buying companies. Look for expired listing agreements. The further you expand your search and the more relationships you are able to make with useful investment resources, the better deals you’ll be able to find.
Find Foreclosures and Tax Defaults
Many banks, county housing departments and sheriff offices will publicly list short sales and properties that have been seized because of foreclosures or tax defaults. There may be auctions online or announcements of when live auctions are happening. There may be property listings that allow you to make direct offers. Utilize these back-channel resources to find some excellent investment opportunities. Just know most of these properties are distressed and may require more work in terms of renovation.
Get Sellers to Come to You
At PropertyLark, we are generating leads every day from motivated home sellers. They find us through our website, direct marketing campaigns and other advertising. You can build up your own investor website and social media presence. You can place ads on social media and search engines. There are always distressed homeowners looking to sell quickly and good marketing (online and otherwise) will help bring them directly to you looking for offers. Then, you can pick and choose which investments are best.
Specialized Online Resources
There are many apps, websites, social media pages and online networks designed specifically for real estate investors. At PropertyLark, we have our own home buying network with investors of all types and experience levels. We can share ideas and information, give members access to off-market deals driven by our marketing, and provide cutting-edge analytics tools to assess and analyze any property’s investment potential.
Conduct Property Analytics
Speaking of property analytics, they are critical to your success as a real estate investor. You must have a system that enables to you to research a property, project costs and anticipate resale or rental value. This helps you determine which investments are worth the time and which are not. There are different online resources available to help you with property analytics.
If you would like to learn more about the PropertyLark investor network—or if you are ready to apply and see if you qualify—visit any buyer page on our website to get started.