Becoming a successful real estate investor means being able to make a profit, and that task is more challenging if it seems like there aren't any great deals out there.
The thing is, there are always deals to be had, and the best investors know how to market themselves to find them. Without innovative and creative solutions to this problem, diving into real estate might just feel like a headache.
It takes effort to find affordable properties
Real estate investing isn't always about snatching up foreclosed houses, but those types of properties are a legitimate place to start, however. Since the price point is typically lower than the average home, these properties are affordable. Additionally, deals can be found in a variety of locations as well.
For example, every regular neighborhood sale might become the next investment property. To get started, an investor should resort to one of the oldest tricks in the book - going door to door, according to CRE Online.
This is a great first step for the fledgling investor because very few people actually take the time to do it. It isn't the most glamorous aspect of the job, but it might turn up the best deals. In fact, looking over data about bank owned properties and foreclosed houses may provide a solid lead, and then the investor can head over and knock on the door.
It takes a little bit of tact to pull this off, the website noted. Foreclosures are a sensitive subject for the homeowners involved, but an investor can present themselves as the ideal solution to their financial problems.
In addition, a simple newspaper advertisement may also help an investor. Some people skip over some of the more obvious steps to finding properties, and going "old school" still has its benefits.
Consider postcard marketing
When not actively pursuing leads, a real estate investor can take a more passive approach. One method is through postcards, and this marketing strategy has the opportunity for creativity.
Instead of sending out the average postcard, an investor may want to make one out of coroplast, which is a plastic that looks like cardboard, according to REI tips. Unfortunately, some cities and towns have ordinances against posting them around the area, so an investor should double check before displaying them.
However, mailing them in the form of postcards is a legitimate idea. Often, small enough ones will take regular postage and they are cheap to make. The attraction is the fact that they look different, and serve as attention grabbers. When a creative postcard appears in somebody's mailbox, it can set an investor apart from the crowd.
Moreover, a handwritten postcard might be the perfect solution, and this method can be cheaper than other versions, REI tips noted. Additionally, it will also set an investor apart, and seeing a handwritten piece of mail arrive one day might stop a homeowner from throwing it out and reading it instead.
The best investors know how to attract deals. Information from Courthouse Retrieval System, such as property data and real estate records, might give an investor that needed edge to start making a profit.