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Three Simple Ways to Find “Off-Market” Real Estate Deals

By on Apr 29, 2013 in Personal Investing | 0 comments

Professor“It’s Official…The REAL ESTATE recovery has begun!”

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Article by, David Lindahl

The commercial real estate market is currently the most competitive that it has been in a great deal of time. To work effectively and give yourself the best opportunity to succeed, you must find unlisted, off-market deals in addition to looking through listed commercial deals. This article will quickly give you a few pointers on different ways to find off-market deals.

To give you an idea of one particularly successful real estate investor, he has done forty deals worth roughly $100 million over the last three years. Within that time frame, only ten of the forty deals were listed and were marketed conventionally. Thirty out of his forty deals were off-market deals. You are throwing away many great opportunities by not looking for these off-market deals.

The first pointer to keep in mind is that every person can be a potential lead. In addition to buying deals from the major companies such as CB Richard Ellis or Sperry Van Ness, you need to look for smaller brokerages too. There are often many individuals who run small brokerages who may work out of their homes and have a low profile. These brokers can often have great deals which they may have not marketed or may have also under-marketed the property.

The remainder of this article will focus upon two strategies you may use to acquire off-market properties. The first one is the failed transaction. This occurs when a property has gone into contract but failed due to reasons normally involving the buyer. The seller can become very frustrated as a result. This is a great opportunity to jump in and buy the property quickly and efficiently. Use short due diligence periods and potentially include a non-refundable deposit to appease the seller. The seller may be willing to make concessions on price and other matters within the contract because of the speed and professionalism you display through the deal.

The second strategy which you can use is to look at the largest owners within a particular market. Look at the overall portfolios for these owners and see whether there are properties which don’t fit with the overall strategy of the portfolio. These owners may not be used to managing this property and may not be receiving the type of return they would normally receive. You can enter the picture and help them out by taking over a part of their portfolio they do not want or need. This will allow the owner to rid themselves of a troublesome property while providing yourself with a deal which had no competition.

This article on off-market deals should have given you an idea on why it is so important to look for off-market deals along with two strategies to find off-market deals. Off-market deals are a source of deals which you cannot ignore. If you choose to avoid this area, you are limiting the amount of success you can have within the market. Hopefully you are able to use this information within your business in the near future. Good luck.

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