If you really want the best deals in investment beach properties, you have to increase your odds by finding more deals. Who is more likely to get a bargain beach property, an investor that looks through the MLS listings and calls it a day, or the one that uses ten resources? Here are the ten:
1. Talk. Let people know you are looking and sometimes the properties will come to you. There are a lot of owners out there who want to sell, but haven’t yet listed their property.
2. Search the web. Use Google or another search engine to find bargain beach properties. Simply type in the criteria you are looking for such as price range, number of bedrooms, square footage, etc. You may find a diamond in the rough.
3. Drive around looking for “For Sale By Owner” signs. Owners often don’t want to pay to keep the ad in the paper every week, so you won’t see all beach properties there.
4. Locate beach properties that have been abandoned. This is a pretty clear sign that the owner can’t or just doesn’t want to care for the beach property any more.
5. Search for old “For Rent” ads. Call the landlord to see if he would be willing to sell. The worst thing he can say is no. the landlord may be willing to entertain a legitimate offer.
6. Call the banks. Obtain a list of pre-foreclosure and foreclosed beach properties. Visit the beach property and make an offer. If you buy before they list it with a real estate agent it saves them from paying a commission.
7. Pay a finder’s fee. It never fails, there is someone in every community that just seems to know when someone is happening. Offer them a finders fee for bringing you good deals.
8. Eviction notices. If your local papers publish eviction notices, or if you can get the information at the courthouse, it can be useful. A landlord who just went through the process of evicting tenants is a likely seller.
9. Old FSBO ads. If you call on two-month-old “For sale By Owner” ads, and they haven’t sold, they may be ready to deal. Owners often give up the effort, but still would love to sell. Help them out!
10. Use the local news paper. By placing an ad in the paper the you are looking to buy beach properties, you may generate some calls from people who have become extremely motivated sellers.
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