In a real estate market with a high interest rate and a low inventory, it is easy to become discouraged with the limited options. However, real estate professionals should never give up their mission while searching for the perfect deal. With the proper research and the ability to recognize opportunities, investors can still find lucrative deals in any environment.
Strategy 1: Research Zoning Records for Fixer Upper Potential
Investors who are seeking real estate fixer-uppers should begin by pulling up a list of zoning records for the area of interest. Look for parcels with the most flexible zoning regulations as this allows for more creative building projects in terms of making homes bigger or adding extra features that might be able to drive more traffic. By researching what the local planning departments have approved, you can gain a better understanding of what is possible with the current zoning regulations and what parts of the local area have the most potential.
Strategy 2: County Record Searches
Another strategy that can help uncover real estate deals is to search county databases for active liens or divorces. These are public record, and many counties make these data available on the web. Begin by looking for records titled ‘Lien’ or ‘Decree’ or ‘Dissolution’.
Studies show that distressed owners are willing to take less equity out of a property than its actual worth, this opens up doors for investors to buy the title for a discounted rate. By doing a title search every few weeks, investors can identify potential motivated sellers, which can lead to great opportunities.
Strategy 3: Request Nuisance Report Data from Cities
Homes that have fallen into disrepair are a nuisance for neighbors and their owners alike. Many times the owner of a distressed home is looking to get out, and this means they’re often willing to accept a lower price. These deals are often off-market since these sellers don’t want to go through the hassle of listing on the MLS.
To find these homes, see if your city provides nuisance report data. Neighbors file nuisance reports when homes become distressed, and under freedom of information laws, these reports are typically made available through a county or city website. You may have to submit a custom request using a ‘Contact us’ form and wait to receive a reply.
Conclusion
Finding opportunities that have great potential in a high-interest, low-inventory market can be difficult, but if investors remain vigilant they can identify great bargains. With tools like RealEstatePulse, it is now easier than ever to locate these deals even before other investors have had a chance to act. RealEstatePulse can be used to search through county and city zoning records for fixer upper potential, search county databases for active liens or divorces, or request nuisance report data from cities under the Freedom of Information laws. For the sake of staying ahead of the competition, RealEstatePulse can even send these alerts hourly and provide access to a dashboard where users can create custom notifications to find deals tailored to their strategy. Subscribers can even query their own data to ensure they stay on top of the ever-changing landscape of real estate.
For those looking to find great real estate deals in a high-interest, low-inventory market, it’s important to take an active and knowledgeable part in their search. Take advantage of all the tools available, like RealEstatePulse, to make the search easier and more profitable. To become a subscriber now and start capitalizing on these potentials deals, visit https://realestatepulse.email.