Just because a house isn’t on the market yet doesn’t mean it can’t be sold to the right, eager buyer. Recently, I drove around and chatted with Gave Esparza from New Western Acquisitions and DealMachiner user himself on how to spot off-market real estate deals.
Look Through Good Parts of Town for Rehabbers
Gabe and I both agree that finding a great off-market real estate deal often starts with driving though good neighborhoods. These houses, in general, will have higher property values than a like-condition house located in a worse-off part of the town or city.
Look for Lack of Upkeep
Another key giveaway that you might be able to snag an off-market deal is buying a home that’s clearly seen better days. Things like overgrown grass, stuffed mailboxes, and tarps on the roof all point toward a seller or tenant who’s ready to write-off their home to questioning buyer.
Also, it helps to pay attention to handicap ramps and in-window AC units. Ramps might indicate that the home or tenant belongs to an elderly person that might be ready to sell.
HVAC systems are expensive to install, making in-window AC units a more affordable, but less effective choice. There’s a good chance these homeowners might not have the funds available to install an HVAC system or perhaps do other home improvements, making them likely to sell if the price is right.
Want to hear (and see) more of my chat with Gabe as we cruised near downtown San Antonio for off-market deals? Watch the video below and don’t forget to visit our website to start your 14-day free trial, afterwards.