I’ve outlined before a number of ways to buy real estate below market value, one of which is buying off-market properties. However, finding and buying properties off-market (not advertised on MLS or otherwise publicly) is easier said than done. While it’s true that buying an off-market property is often less costly and can be negotiated much more quickly, it can be a tricky process to get to that point and negotiating the sale is a delicate process.
I bought my first off-market property a couple of months ago. I send many letters to absentee owners and people who have inherited properties. I received a response to one of my letters, and we actually negotiated the price over text message. I bought the house two weeks later for a great price and it is currently awaiting repairs until some of my other flips are completed. The seller knew I was getting a great deal, but the home needed a lot of work and he wanted to get rid of it quickly.
Off-market properties are key for investors who are looking to break free of the competition in a low inventory housing market and therefore potentially buy properties for less money. I’ve outlined some of the best tips and practices for buying a property off-market in the infographic below:
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<div><a href=”https://investfourmore.com/2014/09/15/buy-market-properties-infographic/”><img src=”https://s3-us-west-2.amazonaws.com/brightervisionws/I4M/OffMarketProperties_IG_v2.jpg” alt=”How to Buy Off Market Properties Infographic” /></a>
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