Growing Your Wealth with Off-Market Real Estate Deals
A strong real estate market is good news for property owners, but it can make finding good deals on investment properties a challenge. As noted in a recent Washington Post article, rental properties are a powerful wealth builder, but only if the price is right. A strong market means more people looking to buy, which only makes it harder to find and score those great deals. What is more, a single property for sale might get a dozen or more offers, driving prices up and making it difficult to reach your real estate investment goals. One strategy to find great real estate deals, even in a hot market, is to approach property owners directly. A recent Entrepreneur article suggests you can do this by driving around looking for vacant houses or bidding on foreclosures. They also suggest playing a “numbers game,” meaning that the more deals you look at, the more likely you will be to find the one you want. While these tactics may work, they do take up an enormous amount of time.
Instead of spending time driving around or trying to call everyone in your neighborhood yourself, the better option is to call your local Real Property Management office instead. Consider the advantages: a property management company like Real Property Management has access to a large pool of off-market, tenant-occupied rental homes, as well as connections to real estate agents who can assist you with a purchase. Most of these homes are owned by small investors who might be interested in selling one or more of their properties, but often think they can’t. Whether they believe they can’t sell a tenant-occupied property or think they need to make repairs first but lack the funds, these owners would love to sell but may never put the house on the market. When such owners are approached by a buyer’s agent, they may be eager to make a deal. If that buyer is willing to take on a property with current tenants or outstanding repairs (or both), everyone benefits. If they want to sell, the owner can do so without the hassle of listing the property or evicting their tenants. The investor gets a good deal on a tenant-occupied property with property management already in place. All of that time saved running around and making cold calls can go directly into growing your business instead.
This is where Real Property Management can be an invaluable resource to investors. We can help investors looking for tenant-occupied, profitable rental homes connect with real estate agents skilled in off-market property transactions. We have offices nationwide, which means that your property search isn’t limited to a single geographic area. New opportunities and new markets can mean a diverse and profitable real estate portfolio, but only if you have a trusted local expert on your side. According to a recent article in Forbes, the key to success in real estate investing is to find a good property management company that will give you an unbiased market assessment of any property you’re looking to buy. Market analysis is just one of the many benefits that Real Property Management has to offer. We can not only help identify property owners looking to sell, but we can also ensure that the property continues to be appropriately managed throughout the transaction. Our team of experts is ready to help you meet all of your real estate investing goals, both now and for many years to come.