I am noob. I have discovered that I am pretty good at find property.
Where would I find the resources to help me find potential investors in my area ?
Thanks in advance.
I’m sure I could use a few pointers from you.
Mind sharing some of your techniques?
Thank you.
Well here is what I have in my bag.
- I have very close relationships with two realators.
They don’t come to me. I go them for things like, comps.
opinions, and getting the skinny on anything they know.
The area I am working is big enough; but small enough that people know your business - if you know what I mean.
- I drive around and look at the general state of a houses.
You know how you drive around and see a really nice house that stands out.
Well I do that but in reverse. I look for the houses that don’t stand out.
Where the yard is just OK, house needs some paint,etc.
Drive by at night, are lights on - no them maybe the house is not used?
Is the grass cut on a regualr basis?
Ugly house on a nice block - Oh yea.
Here is a recent example.
Last October I am driving around and see this house on a semi country road. In this town the houses are built in the 1900’s and go for about 250k with about 1/2 an acre. This house does not look lived in; but is does not look beat to snot either. At that time I didn’t know squat flipping and could not find out any info about the house.
So now I am getting into the game, I check on the house find out I am right about the main details, but the house is on the front of 163 acres of land. The owners are asking 475k. Way more than I want to get ahold of. 1) I kind get that kind of bank. 2) If I did I could not keep it while I subdivide it. Cash flow and holding costs.
So here is the kicker - land around here is going for 30k to 100k an acre. They are asking about 3k an acre with the house included.
Hows that for a potential? Buy and then sell for 10x to 30x the original cost.
- Look at who owns the house, are they old or young.
Young owners tend to live way beyond their means, so they might get themselves into trouble.
Old people, well they might die, snow bird, need to extricate equity.
- Look at how they live. Do they just seem filthy?
Odds are the house is too.
Once I have a target house, think about what similar props are going for. Then questimate what it would take to fix it.
- I happen to be a great DIY man, so I have the skill to estimate repair costs for material and labor.
But I do have a relationship with GC and an Electrician. No plumer yet.
So at least I can do some of the work and have them OK it for me.
So eventually I will be getting into Rehab.
Wifey won’t let me invest our money.
So I want to start with Bird dogging to generate some funds and also learn the art of the deal and paperwork trail.
Lord know you can haggle all sorts of deals. But are they good and binding is what I am worried about.
So I scout houses and bide my time.
Hopes this helps.
I’m new to the game so everything will be a learning process, thank you for your help 
Best place to find investors are local REIA club meetings, calling “We Buy Houses” bandit signs, and calling the ads in the newpaper under investment properties or homes wanted section of the classifieds. Dont forget the almighty internet. Go to every R.E.I. forum you can find and let everyone know that your a new birddogger, who is also a “great DIY man” and are looking for investor in you area who are currently buying properties. By the way, where are you investing?
Maine - Costal, Portland, Brunswick, Bath, etc