Quick Tip – Sellers Are Buyers in Disguise
If you come across an “investment” property for sale ad on the internet or in the newspaper, there’s a good chance this person is interested in buying property too. Usually they’re running the ad because they need to free up some equity to finance another deal.
Take this opportunity to contact the person listed in the ad and explain to them you’re also a real estate investor. They might have some deals they don’t want or not enough cash to purchase which is great for you. On the flip-side, you could provide them with some “bird-dog” information as well.
You could also chat with them about pooling money and going in on a multi-family apartment building or something you couldn’t afford alone. Of course take some time to get to know this person before committing to anything financial.
One mans trash is another mans treasure. Well, real estate isn’t really trash but an investor might have a list of great properties and he could share a couple with you. You have also just made a new friend to swap real estate knowledge with.