Investing in real estate is one of the best ways to build wealth. While the market may fluctuate, people will always need a place to live. Finding undervalued and off-market properties to resell at a profit is key to ensuring you make a sound financial investment. However, some properties such as FSBO and pocket listings may not be listed on your local MLS and will sometimes require a little more digging if you want to find them.
Undervalued properties – Properties may be undervalued for various reasons: a distressed seller in need of quick cash; a property that needs major repairs and renovations; or an underperforming cash flow from a rental property, to name a few. There are many undervalued homes on the market, the trick is knowing how to find them. Use tools at your disposal such as Mashvisor’s Property Finder and Point2 to gain insight on potential investment properties.
Off-market properties – Real estate brokers will often try to create interest in a property by word of mouth or social media before listing it publicly. The best way to find off-market investment properties is to network with real estate agents and local wholesalers. Another avenue for finding off-market properties is through direct marketing. Direct marketing includes cold calls, mail campaigns, and social media. Spreading the word is key.
Have you been thinking about expanding your portfolio of investment properties or purchasing your first? Ridge Lending Group would love to help you! RLG prides itself on providing the education you need use real estate investment to build wealth. Call us today!