Most investors try the incorrect place to get investment property for sale. Have a quick look on the internet for investment properties and you may be thinking that it’s difficult to locate a good property available that’s not over priced. The main element when you’re trying to find investment real estate available is to realize that the most effective deals are not usually advertised. If you’ve read my latest book, “Commercial Real Estate Investing” then you probably already know just that the main element to finding good deals on real estate investments is in creating relationships with real estate brokers.
“Pocket Listings” of Investment Property For Sale
Some of the very most best deals on investment real estate originate from something called a “Pocket Listing “.This really is each time a broker knows about a property available, but they’ve not even officially announced it to the rest of the buyers who’re buying property Plot of Land for sale in Lekki Nigeria. With single family homes, this announcement is generally done by adding the property to the MLS or Multiple Listing Service. With a commercial property, the public announcement may be adding the property to Loopnet.com, mailing a postcard out, or by adding the property to the company’s website.
Why All Investment Property For Sale Is NOT Equal
The real estate brokers job is to get as much as easy for the investment property with regards to the owner’s situation. If the master of a property is in no hurry, and does not have any compelling reason to market quickly, then your broker can price the property aggressively and watch for a retail offer in the future in. On another hand, if owner is motivated by a divorce or business partnership that’s coming undone, or probably the seller is dealing by having an urgent medical condition, then your broker’s job is to get the investment property available quickly, even if it indicates lowering the purchase price or offering some creative financing terms.
So ideally, you are likely to work to make a situation where in fact the property must be sold quickly, owner is motivated, however the broker has not even released the listing to the public. Here is the pocket listing situation that you’re looking for. The thing is that you can’t simply call up a broker that you never know and question them “Do you have any pocket listings for me?” The clear answer will probably be no.
The explanation for that is that when a broker does have a pocket listing, generally the broker will probably call the investors which they know and trust to supply them the opportunity to get a great deal on an investment property before they release the property available to the typical public.
Which means that your goal when calling or trying to find commercial property available must be twofold.
1) Get the info about the property including all the income and expenses
2) Produce a connection with and get to understand the real estate broker
Your very best deals probably won’t be the advertised commercial properties that you initially call about. Instead, when you create a connection and rapport with the broker, you’re ready to access pocket listings which is where some of the very most best investment property available may be found.