Here are just a few options to consider when it comes to finding fixer-uppers at a bargain price:
Making Friends With Real Estate "Bird Dogs"
Bird Dogs, or those savvy people who go about finding the best deals for investors, are paid well for their services, and rightly so. Recruiting those services can be one of the most cost effective ways of making your investment ventures a success. Real estate Bird Dogs are usually paid in cash to find leads, or potential deals for buyers, doing all of the legwork on their behalf. Nearly all successful real estate investors utilize Bird Dogs, often more than one, in their dealings in order to ensure a high return with little effort on their part.
Bird Dogs are experts on the marketplace and will have the know-how needed to evaluate the profitability of a potential investment, which is invaluable for the beginner. These professionals will have insider knowledge of an area, or areas, and have already scoured the listings, explored the sale prices of deals that have closed, and will also be able to offer advice as to the expected resale value of fixer-uppers depending on the amount of work needed.
If you're a would-be investor without a lot of time to spend searching and educating yourself properly before plunking down large amounts of money, perhaps investing in a real estate Bird Dog would be in your best interest. Depending on the type of project you're interested in, as well the overall amount of information provided to you by the Bird Dog, the amount of their fee can range from as little as under $100 to as much as several thousand.
Of course it should be noted that no Bird Dog should ever be paid for their services unless the deal or resources they've found is acted upon by the buyer, meaning after you've decided to actually purchase the property they've led you to.
Find the Deals Yourself or Use an Agent?
An experienced real estate agent can be worth far more than the fees they charge and forming a solid relationship with one can help to quickly lay the foundation to your path to financial freedom. And, while prospecting directly for real estate deals can indeed be a rather time consuming venture, there are also several benefits to this alternate method as well, the first of which is saving on the agent's fees.
Targeting potential fixer-uppers on your own that are suitable for renovation and reselling begins with directly reaching out to owners who are actively trying to sell, or who are planning on selling their properties in the near future. By doing this, there will be no need for an agent provided you're able to successfully locate fixer-uppers within your price range.
Sal Vannutini is the author of " The 8 Power Profit Secrets To Making More Money With Less Risk In Real Estate, " a free strategy report for investors. Get your complimentary
copy at http://www.FastFixerUpperProfits.com today.