I have recently been exposed to various un advertised opportunities some which we have been able to successfully acquired, some have slipped through and others we are still working on, but it has made me realise the more people you talk to, the more you get out there and start digging, and the more research you do the higher your exposure and chances of finding some great deals that most don’t know are there.
Some ways you can find these opportunities are:
• Vendors with multiple properties for sale but only advertising one at time. Do your research on the vendor.
• Friend’s and family’s acquaintances. Have your family and friends looking for you.
• Neighbours. Tell your neighbours of your rentals if they ever want to sell to give you a call.
• The person in the shop talking to the salesperson about wanting to sell their house. Keep your ears open.
• Advertise yourself. Business cards, flyer drops, and adds in the paper.
• Follow up on any properties where the vendor wasn’t able to sell and has taken the property off the market.
Some opportunities may come your way when you least expect them. And you may not be in a position to buy them outright. Don’t forget you can use other strategies for example, option to purchase, lease options, or delayed settlements to name a few. And don’t forget you’re investing colleagues what goes around comes around.
This can work both ways too. Opportunities may come your way if you are the vendor.
A few weeks ago I heard Harry Lawson speak at the Waikato Property Investors association and he shared his buying rules with us. They are: the best time to sell is when you’re not planning to and the best time to buy is when you’re not planning to. The very next day we had someone approach us wanting to buy 2 of our properties. Made us think long and hard! Is this fate? This was someone trying to find an opportunity and it turned out to be a great deal for both us and them.
So remember keep your eyes and ears open and don’t forget if you don’t ask you don’t get!