Off market real estate is a piece of property that has not yet been publicly listed or advertised. Once a house hits the market, thousands of agents have access to the listing. This creates a demand for how to find off market real estate deals. The Association of Real Estate License Law Officials (ARELLO) estimates the United States to have roughly 2 million licensed and active real estate agents. Therefore, with so many eyes on the multiple listing service (MLS), it’s not uncommon for, in a hot market, bid wars to occur. A bid war is when a house is so desirable that people are willing to pay over asking price. Typically, the person who puts in the highest offer wins the bid. Due to this, investors turn the idea of how to find off market real estate.
Investor’s strong passion for how to find off market real estate has created a spot for wholesalers. Wholesalers are people who know how to find off market real estate. The wholesaler’s main job is to get exclusive deals, which nobody else has seen yet. They are typically able to acquire these deals from outlets other than the overly saturated MLS. For example, Real Estate Kate finds and sells her Buyer, Joe, a house that has not been listed by an agent on the MLS or by a homeowner on Zillow. Many wholesalers contract a property with an assignment clause, which allows them to sign it over to the end Buyer. Real Estate Kate and her team always close on the front side of the property to ensure any previous mortgages, liens and violations, etc. are taken care of first.
Many investors are interested in trying to figure out how to find off market real estate on their own to save money and get a better deal. However, this is extremely difficult for them because it is typically a full time job and not a one-man show. Real Estate Kate and her team spend hours of time, money, and effort in mastering how to find off market real estate. They mail out thousands of letters to absentee owners and owners of distressed homes as well as thoroughly research the upcoming foreclosures, short sales, and REO auctions. Their office is filled with multiple employees who are assigned to different tasks. Due to this, they are able to specialize in how to find off market real estate.
Unfortunately some investors, who have taken the plunge to try and learn how to find off market real estate, by bidding at the auctions themselves, have wound up in disastrous situations. For example, a Florida couple bid and won on a nearly a half a million-dollar waterfront condo. After the sale, they were shocked to discover an unexpected first mortgage on the property, meaning the bank could soon foreclose. Foreclosure auctions can be risky for those not well versed in the process. Another resource for how to find off market real estate is by word of mouth. For example, a neighbor, relative’s acquaintance, or a friend of a friend. However, the chances of this occurring and being successful for one are slim and few. Utilizing wholesalers, like Real Estate Kate, are great way for inventors wondering how to find off market real estate. Subscribe to Real Estate Kate’s e-mail list to stay kept up t o date with the latest properties. You can also check out her website at www.realestatekatefl.com for a list of her current inventory and best off market real estate deals. Let Real Estate Kate and her investors do the hard work of how to find off market real estate and provide a one stop shopping experience for you. To learn more about investment real estate for sale, click HERE to check out