Networking is a great way to find off-market properties. Of course, you can’t network with just anyone when looking for off-market properties. There are three types of people you should establish your relations with when searching for a listings: Contractors, Real Estate Attorneys, and mortgage brokers.
One of your best bets for finding off-market properties is through contractors. Local contractors tend to be aware of real estate opportunities in an area, as they are constantly in touch with people in the business. Sometimes they can directly lead you to pocket listings in their local area.
You should also consider networking with wholesalers. Wholesalers buy real estate property contracts, then assign the properties to an interested seller within a few days. This is a great way to find off-market properties, the only downside being that you might not always be in direct contact with the seller using this method.
Finally, networking with real estate attorneys is another great way to find off-market properties. Attorneys typically have a broad view of how to judge properties, and can actively help you in assessing the value of a property, making them valuable sources of pocket listings. Networking with real estate attorneys is a good idea, as they may help you find future pocket listings.
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