If your only method for finding new investment properties is surfing the MLS, you’re likely far behind your competition in terms of deals. We can provide you with all the house flipping tips in the world, but if you can’t find a property to rehab in the first place, they’ll all be moot.
Experienced investors don’t wait for properties to come on the market. They make properties come to them, and then they have their house flipping loans ready to go so they can move fast and make the best possible ROI. Here are four strategies for acquiring investment properties that you should explore:
- Direct Mailers
Top house flippers send out direct mailers that are targeted at owners of distressed properties. They hone their list and invest in direct marketing every month so that when people in their targeted areas are ready to sell, those sellers call them directly.
- A website
Best used in tandem with a direct mailer or other advertising campaign, a website lets people find out more about you without actually calling, which is a big step that most people aren’t willing to make without more information. A website gives them another way to reach out and for you to show how easy you can make it for the seller to get cash quickly for their run-down property.
There is a whole world of wholesalers who buy distressed properties and resell them to flippers in a matter of days. This essentially works as a finding service. (Wholesaling is also a good way to learn more about the house flipping business and make some quick cash before jumping in on your own flips.)
Networking is a key component of house flipping, especially if you want to flip houses on a large scale. The more realtors, contractors, and fellow house flippers you get to know, the more properties will start falling into your lap. Always have business cards on hand, and let everyone you meet know what business you’re in – you never know where your next referral might come from.
To learn more about any of these acquisition strategies, give our office a call at 559.326.2509. We’d be happy to answer any questions you may have and tell you more about the current terms of our house flipping loans.