So my Flip VIP buddy Mike Ferris just sent me this awesome list of 25 time-tested, proven ways to find/get great real estate deals (see below). He prepared for discussion at this month’s meeting for the REIA group he runs in Delaware.
Now Mike and his wife Christina have done hundreds of deals since they got started back in ’99, from wholesaling, buy-fix-sell, buy and hold, to short sales, and new construction. They also manage several hundred rentals. So I guess you could say they know a thing or three about finding great deals. 🙂
A Quick Note From Mike About This List:
[audio:http://reitips-audio.s3.amazonaws.com/interviews/ferris-25-ways.mp3]- Homepath.com (Fannie Mae)
- Auctions (Realtybid.com/ HudsonAndMarshall.com/ WilliamsAuction.com/ REDC.com/ Auction.com/ REDClive.com/ BidSelect.com/ EconoHomes.com)
- Bandit Signs
- Craigslist advertising
- Craigslist estate sales
- Pay per click through search engines…Bing, Yahoo, Google driving to website
- HouseBuyerNetwork.com (and other ‘we buy houses’ sites)
- Direct Mail: absentee owner
- Direct Mail: open estates (probate)
- Direct Mail: driving for dollars
- Direct Mail: late payer mortgages
- Foreclosure sales (sheriff)
- Gas station signs
- Pawn shop signs
- Grocery store flyers
- Inserts with coupon distributors
- MLS (by neighborhood, estate sales, fixer uppers/handyman specials, etc)
- REO brokers
- HUD foreclosures
- Newspaper Ads (main and pennysaver)
- Phone book
- Networking and Referrals (from agents, investors, bird dogs)
- Vehicle signs (Magnetic or Vinyl)
- Wholesalers
So Tell Me:
- Which method(s) have you found work best for you? (for me it’s #’s 9, 10, 11, and 18)
- Which method(s) would you love to unwrap and learn more about if you had the chance? (Remember my post with Steve Cavanaugh about RE auctions? Think along those lines.)
- Anything missing from this list? (What would you add to it?)
Would you please leave your thoughts in a quick comment below? And also maybe an “attaboy” to Mike for passing along his neato list. 🙂
Thanks!
…jp
Wow us wholesalers all the way at number 25… Whats up with that JP… LOL.. Its all good. I love using direct mail and coming up with new mays to make people open my letter or else miss out on something amazing.
I know, I know. But I didn’t compile the list, Mike did! I’m sure he meant nothing but love for us wholesalers though. 🙂
Thank you, JP. You give so much to the community which is greatly appreciated.
~Leigh~ Tampabay, FL.
Thanks for sharing…
Anne – Atlanta, GA
Great list.
I Was very encouraged to find this site. I wanted to thank you for this special read. I definitely savored every little bit of it and I have you bookmarked to check out new stuff you post.
Great info, especially for newcomer wholesalers with or without money.
Great List. But right now, getting inventory is NOT a problem. Can you post some ways to sell Retail Houses in this market?? Thanks.
Great point, Danny. I have a few posts all about selling…specifically do a search for how to sell a house in 3 days. AWESOME post about that one in the last few months or so.
Thanks for commenting!
I Was very encouraged to find this site. I wanted to thank you for this
special read. I definitely savored every little bit of it and I have you
bookmarked to check out new stuff you post.
thanks for share
Great list! For me, by far the best has been bandit signs. But I think every item on your list works if you use it Consistently – thanks for the post JP
Great list! I’ve had quite a bit of success on Craigslist along with driving for dollars. I believe they’re all solid game plans, but they’re only as solid as the consistency you put behind them.
Some work better than others, but overall just training your eye for a deal works best! Like any other skill, it takes years to develop!