Acquiring Property is no small task. There is a lot of competition for viable investment properties. Here at Renttropolis, we partner with many different types of property owners and have asked for some feedback on what has worked for them when acquiring property. Much of this might be considered common sense, but here are the TOP TEN resources our landlords have used to acquire properties:
- Open Your Mouth. Talk to friends and family, neighbors and church connections. You never
know whom people know and you could be one discussion away from that great property.
- Use The Internet. Search engines have become much more intuitive. Plugging in details about
what you’re looking for will yield great results. Don’t forget about using social media because
friends and followers can be your best advocates.
- Get In the Car and Drive. There are plenty of potential ‘For Sale By Owner’ opportunities out
there that are not advertised anywhere.
- Scour the Area For Abandoned Houses: Crabgrass and dirty windows is a sure sign that the
property is a non-preforming asset. Most owners will be willing to make a deal to be rid of it.
- Check Out Expired For Rent Ads. Landlords that can’t fill the units are more likely to be open to
- Connect with Bankers and Attorneys. Many of them will know about the properties that the
bank is holding that they want to get rid of-before the general public even knows about it.
- Finders Fees. There are plenty of well-connected people in the community that always seem to
be in the know. Pay them a small fee when they bring opportunities to your attention.
- Eviction Listings. Legal notices are usually published by local papers and online. A landlord that
spent time getting rid of tenants may be a prime candidate for selling the property.
- Dead For Sale By Owner Ads. Many owners abandon the effort when there has been no
movement, but the desire is still there to sell.
- Advertise. “Looking for investment properties to buy,” could be just enough to peak someone’s