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Real Estate Information |
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Buying Real Estate Thats Not For Sale
Buying real estate can start with a look in the newspaper, a visit to a broker, or a search online. These are all good ways to find your next investment property. You're looking at the same properties as every other investor, of course, so it's not always easy to beat the competition to a great buy. A better way to find good real estate investments is to look for properties that aren't yet for sale, and make an offer. I bought my first home this way. I put an ad in the paper stating what I was looking for, and soon had a call from an old couple that had been thinking about selling. I bought their place at a good price, and they saved a broker's commission. Buying investment real estate that isn't for sale starts with a three step search process. First decide what you are looking for. Single family rentals or apartment buildings? Then start looking for properties that fit your criteria. Then contact the owners. Buying Real Estate From Non-Sellers Don't limit yourself to "fixer-uppers" or other "problem" properties that seem more likely to have owners willing to sell. Many owners of investment real estate have thought of selling, so you can start with almost any building you like. You never know beforehand if or why a landlord is ready to call it quits. You find out by asking. Tact is necessary here. Call the owner and tell him you're an investor, not a broker. Let him know that you like what you see. Tell him you can have an offer ready in a week if he's interested. If he's not interested, thank him politely and hang up, but send him your card or a letter. Many investors have bought from owners that changed their minds. If there is some interest, explain that you are an investor, so your offer will have to be based on your return on investment. This means you'll need to see the books. Specifically, you'll need to see the rent roll, listing the units and what they rent for, plus current occupancy, and operating expenses for the last year. Have a confidentiallity agreement ready before you call. Let the owner know that you'll sign it and deliver it to him before you see the books. He may not want to let the tenants know he's thinking of selling, so inspecting the units may have to wait until you make an offer. Just make an acceptable inspection a contingency in the offer. Why is buy investment properties this way? No competition and no sales commission means you may get a better price. Also, instead of waiting for that perfect property to be listed for sale, you just find it now. Why wait until it's for sale before buying real estate? Steve Gillman has invested real estate for years. See a photo of a beautiful house he and his wife bought for $17,500 on his home page, or go straight to the section on Investing In Real Estate: http://www.HousesUnderFiftyThousand.com
MORE RESOURCES: The ‘Most Colorful Home in Queens’ Has a Dark Secret The New York Times 'Nepo homebuying' isn't as popular as it used to be. That's actually a bad sign for the US real estate market. Business Insider Exclusive | NYC Real-Estate Firm Nears Deal to Buy Troubled Office Landlord Paramount The Wall Street Journal Torque Motor Suites brings luxury car condos to Oakley and Blue Ash | Going Up - Cincinnati Enquirer Torque Motor Suites brings luxury car condos to Oakley and Blue Ash | Going Up Cincinnati Enquirer How the East Baton Rouge commercial real estate market is performing Baton Rouge Business Report Bess Freedman on Real Estate as Rates Fall Yahoo Finance This $1.6 billion deal is a sign that the worst of the crisis in office real estate is in the past MarketWatch Smotrich: Gaza a potential real estate ‘bonanza,’ Israel talking with US about dividing it up The Times of Israel Opendoor to expand nationally after stock bull run, C-suite shakeup Real Estate News by RealEstateNews.com Salisbury’s August real estate sales The Lakeville Journal Sugar Pine Village honored as 2025 Best Real Estate Project of the Year by Sacramento Business Journal TahoeDailyTribune.com Deal With Real-Estate Investment Trust Helps Bring Down Another U.S. Hospital Operator Organized Crime and Corruption Reporting Project | OCCRP Smotrich says Israel sitting on a 'real estate bonanza' in Gaza, talking to the US about dividing it up The Times of Israel Big gains for Real in DC; a Coldwell Banker M&A in NJ Real Estate News by RealEstateNews.com Mortgage rates approach 6% as Fed makes first rate cut this year Real Estate News by RealEstateNews.com Rays' top leadership steps down ahead of team sale as real estate developer readies takeover CBS Sports How AI will transform commercial real estate Fast Company Shoring Up Your Agent Force: Recruiting and Retention in the Changing Real Estate Landscape RISMedia Gale Associates, Inc. Appoints Alan Craigo to Lead Florida Office Boston Real Estate Times World Property Ventures to Launch Digital Real Estate Bank Banking Exchange This Pennsylvania Home Experienced the Most Absurd Renovations in the History of Real Estate CandysDirt.com Davis Hires Alexander K. Zabik to Lead Strategic Credit Platform Boston Real Estate Times CREF Roundup | Week 38, 2025 Frost Brown Todd RNR People in Real Estate – Texas & more Realty News Report Do you find that real estate buyers on the South Shore are more decisive in the fall, aiming to close before the holidays? fireislandnews.com M&T Bank: Continually Reallocating Away From Commercial Real Estate and Toward Consumer Lending Morningstar Fall '25 Real Estate Guide The Timberjay Bezalel Smotrich says settling Gaza could offset war costs The Jerusalem Post How Stacey Caito Combines Innovation and Heart to Transform Real Estate in Northern Virginia International Business Times Calvin Harris accuses financial adviser of stealing $22.5M for 'boondoggle' real estate project NBC News S. Korea’s NPS takes minority stake in Nordics real estate firm Pensions & Investments Best Real Estate Projects 2025: California Firefighters Memorial Expansion The Business Journals Post Real Estate Group buys affordable housing property Rancho Cordova Apartments The Business Journals Where Does Gordon Ramsay Live? Exploring the Chef’s International Real Estate Portfolio Architectural Digest I'm a Real Estate Investing Expert: Optional 721 UPREIT DSTs Can Be the Best of Both Worlds Kiplinger Rice Real Estate, Lincoln Property Co. announce plans for The Arc, significant expansion of Ion District Rice University Real estate experts launch AI-powered consulting firm The Business Journals Steps from the Sea Florida Weekly The area real estate market settles down goldendalesentinel.com Gulyas joins Portfolio to cover real estate market Talking Biz News DHHL Delays ʻEwa Real Estate Swap To Make Sure Donation Isn’t ‘Dirty Land’ Honolulu Civil Beat Clear Secure (YOU): Evaluating Valuation After Launching Real Estate Partnership With Fidelity National Financial simplywall.st Austin is becoming a buyer's market, new real estate reports say CultureMap Austin When Will Be the Best Time to Buy a Home in 2025? (Hint: It’s Coming Soon) National Association of REALTORS® |
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