Investing in real estate is a great way to create wealth and financial freedom for both you and your family. In our latest real estate post, we will share ways on how to buy investment properties in Reno Nevada at a fraction of the cost.
Reno Nevada’s real estate market is rapidly growing and becoming a very competitive market for anyone looking for investment properties. As a result, finding a good investment property in the area has become more difficult. So finding a property at a good price may be difficult for some.
If you want to invest in real estate in Reno Nevada, you will probably enjoy the idea of saving money on your next purchase or transaction. In this blog post below we will show you some of the most simple and effective ways to save money on your next investment property transaction in.
One of the best ways to buy investment properties in Reno Nevada at a fraction of the cost is to completely avoid the MLS. If your are looking to start or expand your real estate portfolio looking at public deals is not a bad start. As a Real Estate agent in Reno Nevada, I would say that there are some good deals on the MLS and other public sources that could yield you a decent profit. However, if you are looking to get better and more lucrative deals, it is best to look somewhere else. The MLS is primarily for those looking to buy at full retail price, typically for a house they plan on living in themselves. To find the best investment properties, most successful investors search for off-market investment properties. Which leads to the next way to find great real estate investment deals at a fraction pf the price.
Look For Off-Market Deals
As mentioned above, finding off market properties is a great way to find great deals in the Reno Nevada area. It will take a little more work to search for off-market properties on your own than working with a professional. There’s a lot of ways you can do this. It is possible to collect all of the Foreclosure, FSBO, rental listing, probate, and rental listings from a particular neighborhood. You would have to go through the burden of calling each owner and hope to get a deal together. If you can get a deal together it will be worth the burden if you are able to get a fantastic deal on the property. Especially if you are the first one to make an offer.
A good way to find off market deals in to drive neighborhoods you are interested in. When you are driving through the neighborhood write down address to houses that look worn down and look vacant. Houses that are worn down and vacant usually have owners that are more willing to sell are a discount price. Use your local property appraiser site to find ownership details or use a quick internet search. You can reach these owners and politely let them know that you’d be interested in making an offer on their property. Everyone will not be so friendly of your call so be aware some people might be upset.
If calling owners and doing the necessary leg work is not for you, then give us a call or email today. We works with investors who are looking for off market deals. Let us know what type of property you are looking for and we will find you the perfect off market deal for you. It is what we do.
Buy In Bulk
If you buy from another investor in bulk, you can find great deals. An investor may often want to sell off parts of their assets, grouping together some properties they want to sell. Other investors who are looking to get rid of their portfolio will often sell at an discount price. So if you are an investor who is able to buy more than one property at a time, you might want to look into how you can buy properties in bulk.
Find A Partner
By finding a partner with similar aspirations and goals, you will be able to find and purchase real estate that you wouldn’t have been able to on your own. Find a partner who compliments your skills and investment style. They should excel in the areas you are lacking and vice versa. When the right partnerships are formed, amazing things can happen. You should only form investing partnerships with people you really know and trust.