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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: Real estate CEO warns of growing ‘exodus’ as people have ‘given up’ on California — but where are they going? Yahoo Finance Dave Ramsey Saves Listener With $1 Million in Her 401(k) From Becoming a ‘Victim of the Real Estate Market’ Realtor.com Livvy Dunne Tried to Buy Babe Ruth’s Former Apartment. An N.Y.C. Co-op Board Said ‘No’. The New York Times A tale of two Floridas: Real estate industry torn over DeSantis' push to eliminate property taxes Fox Business What renters really want | Real Estate Newsletter Inquirer.com Russian Demand for U.S. Real Estate Surges 78.5% The Moscow Times Providence Hill Real Estate owners buy office building near Tuckahoe HQ Richmond BizSense ‘It’s all looking great’ for the M’s of M2 Property Group in Texas Real Estate News by RealEstateNews.com Milestone Real Estate owner realizes dream with Downtown Fresno office thebusinessjournal.com Lee & James Real Estate Photography Launches Back-to-School Special for Portland Area Realtors Milwaukee Journal Sentinel Home prices in Colorado Springs hit record high, even with many homes for sale Colorado Public Radio Real Estate: June 2025 Coronado Market Update Coronado Times Real Estate Partners Dollar Tree $400 Million Family Lawsuit Involving Prominent Fullerton Real Estate Figures Part 2 Fullerton Observer As Sovereign Debt Loses Its Luster, Economist Sees Investors Turning to Real Estate and Other Hard Assets Urban Land Magazine Hybrid ‘buyer agent’ blends AI with the human touch Real Estate News by RealEstateNews.com Mortgage rate uptick leaves summer market on standby Real Estate News by RealEstateNews.com Real Estate Roundup: YKK Sells Anaheim Building for $39 Million Orange County Business Journal Saudi Arabia Enacts New Real Estate Foreign Ownership Law: A Calibrated Opening for Foreign Investors The National Law Review Mom, I’m Going Into Real Estate The Jewish Link Commercial real estate update: As big box brands buckle, the three A's can save the day Tallahassee Democrat Signs of Recovery: Boston Lab Market Shows Momentum in Q2: JLL Report Boston Real Estate Times How downtown Natick MA has become a focal point for redevelopment MetroWest Daily News Is private real estate underestimating risk for US life sciences? Private Equity Real Estate | PERE Bosco Crane Company Acquires 348 Turnpike St. in Canton for $4.75M in Strategic Expansion Move Boston Real Estate Times Homes for Sale in Manhattan and Brooklyn The New York Times Brooklyn Real Estate Market Report: 2Q 2025 Inhabit by Corcoran Compass Acquires PorchLight Real Estate Group Mile High CRE Lancaster County hits new real estate record LancasterOnline ARX Launches First PPE Brand Designed Specifically for Women, Redefining Safety on the Jobsite Boston Real Estate Times The Competition Bureau’s recent focus on real estate: Property controls and rental pricing - Dentons Real Estate Roundup: New Shopoff Project, YKK’s $39 Million Sale Orange County Business Journal CNBC is expanding its real estate coverage Talking Biz News Real Estate Transactions: July 11, 2025 Greenfield Recorder Zillow vs. Compass: Real Estate’s Ultimate Showdown (and Why You Need a Pro in Your Corner) Alexandria Living Magazine This Week in Jacksonville - Business Edition: Navigating the Florida real state market in transition News4JAX Mortgage Rates Today: The States Offering Lowest Rates – July 10, 2025 Norada Real Estate Investments Trump's $5 Million 'Gold Card' Visa Draws 70,000 Applicants — Foreign Investors Target American Real Estate Yahoo Finance Fetner, MCB Real Estate, Farallon Capital Buy 240 Willoughby Street for $210M Commercial Observer Logistics real estate firm Panattoni forms dedicated European data center team Data Center Dynamics NJ real estate influencer indicted for $17M Ponzi scheme New York Daily News Real estate investors are purchasing more U.S. homes as high prices lock out would-be buyers CBS News NYC Real-Estate Execs Throw Money Behind Adams to Counter Rise of Mamdani The Wall Street Journal Report: 7 of 12 Luzerne County school districts increased real estate taxes for 2025-26 The Sunday Dispatch AG Coleman files federal lawsuit accusing company of unlawful price fixing for KY renters The Courier-Journal Report: Leasing lags, but Dayton bets big on defense and development The Business Journals Real Estate: John M. Lee Richmond Review/Sunset Beacon Apartment investor closes second funding round at $373 million The Business Journals Real estate transfers week of July 17 The Ellsworth American Mid-America Real Estate Brokers Sale of 67,146-Square-Foot Retail Center in Oak Brook, Illinois Shopping Center Business Shingle Springs Band of Miwok Indians buys former Macy's building at Downtown Commons The Business Journals Department of Taxation and Finance dos.ny.gov REAL ESTATE Columbia Star Homes for Sale in New Jersey and New York The New York Times Delistings Surge Nearly 50% as Sellers Who Can't Get Their Price Quit the Market in Frustration Realtor.com |
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