Few people know how to find investment property, and waste lot of time trying when actually it's a simple and an enjoyable task.
We like to take Sunday drives, and if I'm not behind the wheel, I am always on the look out for For Sale By Owner signs. If I spot one, and appears someone is home, we'll stop and ask about it. You will find that the typical FSBO. has their property all staged and ready to show it off. Unless it's vacant.
That was the case with the first rental property I purchased, when I moved to a new state and longed to start investing nearby. During one of our Sunday drives, I spotted the FSBO sign, and called right away.
The house was vacant, and Donna, the daughter, met me at the property in about 10 min. She told me that this house had been her Dad's home for many years, and he had recently moved in with her and her family. I liked what I saw, made her an offer to buy, and we closed in 30 days.
I have spoken with new investors who aren't sure how to find investment property to buy, like David. David and I sat down and penciled out some thoughts and soon he was adding ideas of his own. Some of the quick ways we came up with were:
Besides Craigslist, if you are looking for turn-key properties for sale there are several reputable companies, like Roofstock, where people can buy and sell their investment properties. In fact, I have a deal going with them right now. When it closes, I'll write a review . Opendoor is another options, although they are newer and don't offer as many areas that interest me at this time. But they are growing.
The nice thing about using an online buying service is that they already have tenants in, so they are truly turn-key, if that's what your game plan is. You might pay a bit more upfront, but you won't need to do any repairs right away, or go through the process of finding a good tenant.