How to Find Off-Market Deals

Written By Amelia McGee

Discovering hidden gems in the real estate market is like uncovering buried treasure – challenging yet extremely rewarding. Off-market deals, those elusive properties not publicly listed on the Multiple Listing Service (MLS) or traditional platforms, hold the promise of unique opportunities for savvy investors willing to venture off the beaten path. Here are some strategies to help you find off-market deals for your real estate investing:

#1 Tell EVERYONE what you do!

You don’t need to own 100 doors to tell people you own a real estate business and actively buy deals…but you do need to practice telling people you are in real estate. You have to put yourself out there! It can be uncomfortable at first but you will soon find that your network is your networth when it comes to finding off-market deals. Networking can look like building strong relationships with real estate agents, brokers, wholesalers, attorneys, and other professionals in the industry. Let them know what you're looking for and ask them to notify you if they come across any off-market opportunities.

A great way to network is by sharing your buy box. A buy box helps clarify exactly what you are looking for in an off-market property. This way, your network can be an extra set of eyes for you and send properties that match your criteria. Grab our free and editable buy box template here and start sharing!

Some other strategies for networking might look like:

  • Direct Mail Campaigns: Send out letters or postcards to property owners in your target area expressing your interest in purchasing their property. This can be a personalized approach that may catch the attention of motivated sellers.

  • Door Knocking: Sometimes, old-fashioned door knocking can yield results. Knocking on doors in neighborhoods where you want to invest can lead to conversations with homeowners who may be considering selling but haven't listed their property yet.

  • Connecting with Real Estate Wholesalers: Connect with real estate wholesalers who specialize in finding off-market deals. They often have established networks and can help you find properties that meet your criteria.

  • Joining Online Platforms and Forums: Join real estate forums and online platforms where investors discuss deals and share opportunities. Sometimes, other investors may have leads on off-market properties they're willing to share.

  • Networking Events: Attend local real estate networking events, meetups, and conferences where you can connect with other investors, professionals, and potential sellers.

    • The Creative Finance Playbook will connect you with investors looking to find off-market deals and teach you the exact steps to land a property using creative finance strategies. Mention WIIRE for $2500 off!

    • Need help finding a short-term rental? Then sign up for the Level Up Your Listing Summit and use code WIIRE for 10% off. You’ll learn the latest insights, strategies, and tools to revolutionize your STR listing game!

  • Social Media: Utilize social media platforms like LinkedIn, Facebook, and Twitter to connect with property owners, real estate professionals, and groups focused on real estate investing.

    • Head to WIIRE’s private Facebook group to network with women investing in real estate! With over 2,000 members, you are sure to connect with someone in your target market.

    • Or connect with WIIRE on Instagram to build your investor community

#2 Give Referrals

Another great way to find off-market deals is to provide a referral fee for anyone that finds a deal you close on. This strategy turns your entire network of family, friends, and associates into walking talking billboards for you! Make sure to use a number that will motivate and make people’s heads turn! We’ve used up to $1,000 in the past as a referral fee.

#3 NETWORK and don’t stop!

Network, network, network! You can use multiple realtors, multiple attorneys, and multiple wholesalers when it comes to sourcing an off-market deal. Make sure to send your buy box to as many people as possible so they can keep you top of mind when it comes to finding off-market deals.

You can also:

  • Research Public Records: Research public records for information on properties that may be in distress or facing foreclosure. You can then reach out directly to the owners to see if they're interested in selling.

  • Look up Expired Listings: Properties that were listed for sale but didn't sell can be potential off-market opportunities. Reach out to the owners directly or through their previous listing agent to see if they're still interested in selling.

  • Attend Real Estate Auctions: Attend local real estate auctions where distressed properties are often sold. While some properties may be listed on auction websites, others may be off-market opportunities.

  • Try Cold Calling: Although it can be intimidating, cold calling property owners can sometimes yield results. Be prepared with a script and be respectful of the owner's time.

    • Check out Creative Finance Playbook to grab their free script today! Mention WIIRE for $2500 off their programs!

    • Remember to conduct thorough due diligence on any off-market deal you pursue and consult with real estate professionals or advisors when needed.

In the quest for off-market deals, persistence pays off! By expanding your network, leveraging referrals, and exploring various avenues such as direct mail, door knocking, and online platforms, you'll increase your chances of stumbling upon lucrative opportunities. Remember, every connection made is a potential door to new opportunities. So, keep networking, keep giving referrals, and keep exploring unconventional channels – because in the world of real estate, the next big deal could be just a handshake away. Happy investing :)

Resources:

Amelia McGee
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