The Ins And Outs Of Finding Off Market Real Estate Deals In Pueblo Colorado

What exactly are “off market real estate deals“? Off Market Real Estate deals or sometimes they are called “pocket listings” are properties that are not currently listed for sale by owner, or with a real estate agent.

These off market real estate deals can be some of the best opportunities for investors to find investment property at a great price. But there is a caveat. They are sometimes hard to find (but definitely worth it). In this blog post we are going to give you the ins and outs of finding off market real estate deals.

First we should probably get into a little more detail on what “off market” really means. A property that is “off market” is a house that is either being sold “FSBO” or For sale by owner, or a house that the general public wouldn’t really know about.

These properties are either sold by word of mouth through a realtor letting a few select buyers about the opportunity, or they are sold to professional or amateur home buyers. So when you hear “off market” just know the general public doesn’t know about the house being for sale. Only a select few people do.

One of the biggest reasons why off market real estate deals can be so attractive to real estate investors is because there is a good chance you can get the property at a discounted price. Since these houses or properties are not listed with the general public there will surely be less buyers that know about the deal. Less buyers knowing about the deal means the buyers who do know about the deal have less competition.

Typically sellers that are looking to sell their houses off market are usually more able and willing to haggle on the price. This could be because of a foreclosure, eviction or just simply they need to sell a house fast.Less buyers means less offers, also known as you having a better chance as a buyer to get a good price on the house or property.

An additional plus for buying off market properties is that you as the buyer can choose the specific time of property you want. Are you ever out driving around and see an “eye sore”property? Send the owners a letter saying your interested in making an offer. Or google them and try giving them a call.

This type of method does tend to be a numbers game. Remember its an off market deal so they might not have even considered selling their house until you come along. More contacts= more ppl willing to take an offer. But the main point is that you get to choose whom you market to.

Other Ways Of Finding Off Market Real Estate Deals

1. Network with active real estate agents in your farm area. Ideally you will have a farm area of a specific zip code or areas of town. Drive around looking for real estate “for sale signs”. These are agents that are obviously out in the market getting themselves listings and talking to sellers. Surely they come across some sellers that want to sell fast. And maybe you can get in and submit an offer.
2. Same as number 1 essentially but looking for “coming soon” signs can also be a great way to find off market deals. Once again just reach out to the agent, set up a showing or get pictures and make your offer. Please do not overlook #1, or #2. These are free methods and literally no-one talks about finding deals this way.
3. Looking for listings on Zillow, FSBO websites, craigslist, Facebook, etc. I remember a time about 5 years ago where craigslist was literally flooded with good potential houses. Its sort of faded out a little bit in terms of craigslist but if you constantly look you may be able to find something. Zillow (for sale by owner) is a little more promising, and actually the facebook market place is starting to have some decent deals as well.
4. Drive for $$$. I sort of touched on this a bit earlier but this route is a little more time intensive and there is a cost. Drive around certain neighborhoods that you would like to flip, or have a rental in. Write down the addresses of houses that are boarded up, or have notes from the city on the front door. Those properties should get special treatment and you should reach out to those owners immediately. They will be your best chance. Next just write down addresses that have a lot of deferred maintenance. Weeds/trash in the yard, broken or boarded up windows, chipping paint, roof shingles torn off. You get the idea. Compile a list and then send them a postcard or letter saying your interested in buying in that area and if they are interested in getting an offer to contact you.
5. Attend real estate investment clubs or networking events. I have to be honest on this one. I haven’t heard of a networking event in pueblo for a long time. They do have some from time to time in springs but these can be good ways to meet the movers and shakers in the market. Ideally you are looking for wholesalers that constantly have off market deals and you can be added to their buyers list. They will send you out deals when they get them under contract, and you will simply pay them an assignment fee (at closing ) for them finding you the deal.

Off market real estate deals can be a great way to get really good deals on houses or properties. It does take more of a seasoned investor to find them, negotiate them and close them without the help of a realtor. But it can be done. I hope this post helps you find off market deals here in Pueblo or Springs.