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How to Find an Investment Property
There are many ways to find a great property for a great price, but the trick is to find it 1st. When investing in property you make your money when you purchase the property, so you need to make sure you get a good deal. Below are some of the resources I use when I go looking for investment properties.
My favorite way to find a property is on the internet, and the two sites that I use the most are REALTYTRAC and FORCLOSURE.COM. They not only supply you with a list of all the foreclosure properties, but also a list of pre-forclosure and people in bankruptcy. If you are a member of either one of these sites you already are one step ahead of the other real estate investors.
Word of mouth is another great way to find a great property. People will advise you of a good deal on a house for sale, or of someone that is looking to sell there home. If you play your cards right you can buy the property before it is even up for sale. You need to let people know that you are always looking to buy properties, and trust me they will tell you if they think they found a good deal.
Drive around the area that you want in invest in and look for properties that have be neglected. Ugly outside with grass is overgrown if a good sign of a properties that someone might be willing to sell. The uglier the house the better! Look for an empty house that looks abandoned, and you might just find a jackpot. The people might have left the property due to they are in the process of being foreclosed on and you can put a offer on the property before it is foreclosed on.
These are just some helpful tips to help locate great investment properties. The Bottom line is that you need to use every resource you can to give yourself an advantage over the other real estate investors.
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