Twelve Unconventional Methods to Find "Deals" in Real Estate

There are dozens of ways to locate real estate priced below market value. We will begin with some methods you maybe haven't considered, since these can sometimes produce surprisingly good results. You should remember, however, that there is no single method that works every time.

1. Establish a network of people.

2. Tell your friends and neighbors that you buy real estate and even offer them finder's fee.

3. Contact and get to know estate sale companies.
Companies that perform auction and estate sales often are the first to learn what properties will be coming up for sale. Having a relationship with such companies can provide you with leads long before others will even become aware that these properties are available.

4. Follow FHA and VA foreclosure sales on-line and though listings in the local offices.

5. Watch death notices in the newspaper.
Often if there is not a surviving spouse (sometimes even if there is) the deceased's  real estate will need to be disposed of. If an attorney is handling the estate, their name may be mentioned in the notice.  Contact the attorney, who may also be in charge of listing of the deceased's real estate.

6. Talk to your local garbage man.
Most garbage men work in the same neighborhoods every week and can spot changes in someone's home quickly. They can report important information to you, usually before anyone else, such as abandoned homes, homes for sale by owner and, even in some cases, deaths.

7. Attorneys can be good contacts.
Some attorneys offer properties for sale on behalf of banks, owners that live abroad or out of state and for sellers who do not wish to sell the property themselves.

8. Read the newspapers and on-line postings for public auctions, divorces and bank foreclosures.

9. Frequently check the courts and county clerk's office for death and divorce filings.

10. Develop a friendly relationship with your letter carrier.
Just like the garbage man, he or she can report important information to you.

11. Develop a friendly relationship with the owners of disposal services.
Owners of "trucks for hire" or junk disposal businesses can often be the first on the scene when someone  is thinking of moving, or when a widow calls them  to clean out her basement or attic.

12. Learn to identify key phrases in Classified Ads.  
There are thousands of ads listed for real estate in classifieds every week. Most are sellers asking fair market prices for their property.  But a few of the properties listed every week are from sellers who are very motivated.  Look for key phrases like: Out of town owner; make offer; must sell; owner sick; transferred; price reduced...  Make it a habit to check your local papers early each day and act fast!  You're not the only one looking!   

Learn to Use Technology to your Advantage.
Remember the proper evaluation of a potential investment property is a major key to success.  Using all the tools available can give you that extra edge.  The Real Estate Investor Suite by CDS is a software package that can give the advantage over your competition. 

Finding great deals is easier than you think. Making serious money as a real estate investor doesn't require luck, extraordinary skill, or a degree in finance. It just takes persistence, knowledge and the right tools!