We are back with “9 Insightful Ways to Find Real Estate” and “Finding Ways to Fund Your Investment!” Let’s dive right into it.
9 Insightful Ways to Find Real Estate
Turner recommends using the following search methods:
- The MLS: The MLS is the Multiple Listing Service. This can be found on websites, such as Realtor.com or Zillow.com, making the process of finding a property a click away.
- Commercial Brokers: They are knowledgeable about real estate and can help you find a great deal. They also, sometimes, have listings that are not posted yet, which they can share with you.
- Loopnet: “Loopnet.com is the largest listing site for commercial and large multifamily properties.”
- Direct Mail: This includes signing up for print methods of marketing for properties.
- Networking: Going to investment groups and real estate minded communities are great ways to find investors, venture capitalists, real estate gurus, or even partners. Networking can prove to be extremely profitable in the real estate industry. You never know when you will need a connection.
Turner also recommends:
- Driving for Dollars: This simply includes driving around and looking for properties that interest you.
- Craigslist: You can search for properties on the site, post an ad to showcase your search, or search for landlords who may themselves want to sell their property or know someone who does.
- Eviction Records: Eviction records are in public records; so, find some properties that are being evicted, and your likelihood of finding a property to invest in will skyrocket.
- Wholesalers: Wholesalers will purchase solid properties and, then, sell them to you for slightly higher prices.
Finding Ways to Fund Your Investment
According to Paul Esajian of Fortune Builders, here are four basic ways of financing your investment opportunities.
- Cash Financing: Cash is the main source of financing that anyone would want for their property. This method allows for buyers, “to save on interest, increase their cash flow, and receive instant equity in their investment.”
- Traditional Lenders: Traditional lenders require about one-quarter of your down payment up front with a good to excellent credit score.
- Hard Money Lenders: Hard money lenders “provide short-term, high-rate loans.”
- Private Money Lenders: Private money lenders are often-times venture capitalists. They want to invest financially, as well as offer their time in being an active part of the process. “Generally speaking, private money lenders will provide investors with cash to purchase real estate properties in exchange for a specific interest rate.”
After reviewing all of this information we have above, I suggest focusing on managing your property once you have bought it. Managing your property is critical to having a successful future. You can do this yourself, which can become a full-time job at times, or reach out to a property management group to do it for you.
If you are serious about real estate investment and want to learn more, check out BiggerPockets Ultimate Beginner’s Guide to Real Estate Investing. You can find blogs on my website, wdarrowfiedler.net, regarding real estate investments, as well. Tweet me @wdarrowfiedler with comments, thoughts, or questions about real estate investing!