When it comes to real estate investing, your success lies in focusing on the things you CAN control (knowledge opens in a new window, experience opens in a new window, and a good “eye” opens in a new window), and developing strategies to overcome the things you CAN’T control, such as:
- The “heat” of the market you are operating in
- The availability of viable properties in your market
- The number (and experience level) of competing real estate investors
If you’re operating in a hot market where many investors are interested in the same properties, you may find that the prices of MLS-listed investment properties are being driven higher, making them too expensive to meet your net profit minimum.
So how do you find deals outside of MLS listings? How do you improve your odds of finding and closing deals where the as-is price vs. the after-repair value can reap the highest returns?
The answer is to increase the amount of time you spend exploring and creating off-market real estate opportunities.
Ideas for how to do this can be found in the new guide from Anchor Loans, Finding Lucrative Real Estate Investment Deals opens in a new window, which outlines:
- 9 ways to explore off-market opportunities
- 3 ways to create off marketing opportunities
This new guide opens in a new window breaks down each of these 12 ways to find success in a “hot” market, providing specific details and helpful information to give you the competitive edge.
As always, feel free to contact the experts opens in a new window at Anchor Loans as you get underway with your business. We are here and happy to help with any questions that may arise along the way.