If you’ve found your dream property, but don’t have the cash on hand, where should you look? Below are the top 5 resources when looking into partners or joint ventures for buyers.
Here Are Some Big Insider Tips In Acquiring Real Estate
- Court House: Across the country, courthouses are witnessing more homes and properties going up for auction. Certain days are dedicated to auctioning off these homes, and it’s important to keep yourself informed on when and where. The people who are showing up are ready to buy, and can be a potential cash buyers on your property as well. This opportunity makes it easy to find venture partners, where competition is fierce and people are hungry for investments.
- County Appraisal District: Visit your local appraisal district website, and look over the database of upcoming sales in your area, specifically cash deals. This is a great opportunity to find out who are actively investing in your area, and where exactly they are purchasing property. This is a helpful tip for new real estate investors, looking to gather more research on their competition and market.
- Title Companies: The more homes you close on, the more relationships grow with escrow officers. Some of these professionals will look into potential cash buyers on their vast database, along with the people they work with directly. Make sure to stay in good relations with your escrow professionals, in order to help you down the road.
- Multiple Listing Service (MLS) Cash Sales: If you are a licensed realtor, this is a great tool for you. You can search the MLS directory to find out who has sold homes for cash only. You’re likely to find names showing up multiple times, helping you narrow down the individuals to approach with your venture. The MLS will also show you where these investors are purchasing homes, and give you a better idea of those specific areas.
- Real Estate Investment (REI) Meet-ups: While this may not be the most directly useful tool, it can help you expand your networking pool, leading you to other potential contacts in the future. By actively networking with REI meet-ups, you’re likely to come across potential partners. This approach allows you to personally connect with these individuals on a more common ground.
Whenever you’re looking into larger real estate investment opportunities, regardless of your need for potential cash buyers, it is always helpful to keep your options open. By building relationships early on, you can create your own market of venture partners, helping you find a buyer more quickly when you need it.