Take a Drive, Find a Property, Make Some Money!
Aug 15, 2018 / Fix and Flip
In an earlier post, I talked about marketing and the different ways you can get people to come to you with their fix and flip properties. But that’s not the only way to find great renovation properties. You can also approach homeowners and ask if they’re interested in selling. Of course, there’s no point in asking every homeowner you meet. Most aren’t going to be interested. Instead, you need to pinpoint those who may be looking to offload their property. The best way to do that is to go for a drive.
Driving the Neighborhood to Identify Potential Flips
First, do a bit of research on the various neighborhoods near you to determine where homes are selling the best. That’s the area you want to start in, although you don’t have to limit yourself to only that neighborhood. You may want to start with a neighborhood you’re familiar with or one where you’ve sold several properties before.
As you’re driving, you can make note of any homes for sale, but that’s not your main objective. Instead, you want to look for homes that look run-down or for yards that are becoming overgrown. That’s usually a sign of a homeowner who isn’t able or willing to keep up with their property’s upkeep. They may be dealing with financial issues, illness, a very busy schedule, or any other reason that has prevented them from keeping their home looking good.
Now that you have these addresses, you can go to the local county assessor’s website or city records site and look up the address. These records are publicly available, and you can usually access them online. This will give you the owner’s name. With this information, you can go to whitepages.com or a similar site and find the person’s phone number.
The next step is to reach out to the owner and find out if they’re interested in selling their property. If they are, excellent! You’ve scored a fix and flip property without competing against other bidders or paying a real estate agent a commission. If not, you’ve still got your name out there, and the homeowner may refer someone else to you.