To get a leg up in the real estate investment world, you have to be proactive. To find bargain beach properties, you need to be actively searching for investment beach properties. Here are ten ways that will help you be a more active investor in beach properties.
1. Talk. Let people know you are looking and sometimes the properties will come to you. There are a lot of owners out there who want to sell, but haven't yet listed their property.
2. Use the internet. Go to a search engine and enter the type of beach properties you are looking for, along with the city you want to invest in. You never know what you might find.
3. Drive through your target neighborhoods. May owners will put up a "For Sale By Owner" rather than pay for a newspaper ad every week. You'll see more beach properties using this method.
4. Locate beach properties that have been abandoned. This is a pretty clear sign that the owner can't or just doesn't want to care for the beach property any more.
5. Find old "For Rent" ads. Call if they are a few weeks old. Landlords are often ready to sell, especially if they haven't yet rented the units out.
6. Speak to local bankers. Local bankers might provide you with a list of foreclosed and pre-foreclosure investment beach properties. You can buy it before they list it with a real estate agent.
7. Hire a bird dog. A bird dog is referred to someone you pay a fee to for finding good deals. Let them bring you deals. This works good for areas you can't canvas on a regular basis.
8. Eviction notices. If your local papers publish eviction notices, or if you can get the information at the courthouse, it can be useful. A landlord who just went through the process of evicting tenants is a likely seller.
9. Keep a file of FSBO ads. As "For sale By Owner" beach properties have been on the market for 2 or 3 months, owners may become more motivated to sell as circumstances have changed. An offer they turned down 3 months ago, may be accepted today!
10. Place ads in the local newspaper that you are looking for investment beach properties. This may generate a few calls or lead to some partnership deals with other investors.
Hubert Miles is the founder of Waterfront Houses USA, an online marketing service that provides Beach Property For Sale in the US and Canada. Learn more about Beach Properties For Sale in your area.
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