Today I went for an early morning walk. I decided to walk a different route and explore some streets around where I live that I have never walked down before. I was amazed at the number of potential property deals I found.
When looking to purchase an investment property the very best strategy is to find a motivated seller. One of the ways to find great property investments in your local area is to get out there on foot and get to know the area. This is such a simple strategy that many people overlook it, but it works. I promise you that you will notice things you won’t see if you drive around in your car. I want to share with you some tips on what to look out for so you can find some great property investments in your local area.
The first thing to look out for is of course properties for sale. Take some leaflets or letters with you, so that you can drop these through the letterbox at every house you see currently on the market. Make sure you also put a leaflet through doors of properties, which say they are sold as remember many sales fall through.
If you find a property with a couple of different for sale boards outside that is a good indicator that the owner may well be a motivated seller. Another good find, is a property with sale and select board outside this could be a potential purchase lease option.
The other thing you want to look for is derelict or abandoned houses. Note down the address and then you can go to the land Registry website to find out who is the owner and maybe contact them to see if they are interested in selling.