Lots of investors are looking to get started, and as active real estate experts in Texas, we get asked to share our secrets quite a bit.
Fortunately, we love to share 🙂
One of the biggest questions we get from local investors is ” How to find a good investment property in Texas?“
With the flood of foreclosure deals all but dried up (compared to where they were a few years back)… people are having to get more creative in finding the best real estate deals on great local investment properties.
We source our properties from a variety of marketing routes… online, offline, etc… so there is no one way that is best way to find good investment properties in Texas.
But the info below walks you through some ways you can put into action to find great properties to add to your investment portfolio.
Most investors are afraid of competition – they think that if they share their secrets, someone will steal their ideas from them.
That’s not how we work. We work with other investors to accomplish things together that we can’t do alone. We believe in the collaboration over competition mentality. There’s plenty of deals to go around for everyone.
We share our learning and our philosophies here because we want to improve the quality of the real estate investment space to build stronger communities. Ultimately, we’re all investing in the same places, so it makes sense to do it right.
How to Find Good Investment Property in
There are a few core principles that are important to understanding if you want to find investment properties in your local real estate market. Finding a potential investment deal can be difficult for a new real estate investor but once you learn how to market for leads, finding deals gets easier.
First, think long-term.
Real estate doesn’t move like the stock market. It’s where people live, work, and play – not just numbers on a screen. It’s almost impossible to make a huge amount of cash in a short-term real estate deal, those come few and far between.
So don’t expect to get away with fancy tricks, or that you’re smarter than the people who have been doing this stuff for years. Thinking long-term means learning from the past to better anticipate the future.
It also means that if you don’t find the local investment properties you’re looking for right away… just know that this isn’t a sprint… it’s a marathon. Real estate investing is very rewarding but if you are thinking that you will become an overnight millionaire then you might be in for a surprise. Locating good real estate investments takes time. You may be able to find a deal or two every once in a while, but if you truly want an influx of real estate leads on a consistent monthly basis then you definitely have to have systems and processes in place.
If you’re not really sure where to start when trying to find investment properties then you may be reading an article that is a good fit for you. We are constantly on the hunt to find investment properties across Texas. We have marketing processes in place that allow us to bring in several motivated seller leads per month. So if you’re not a marketing expert and have no intention of doing any of that then you might want to check out our Investment Property Buyers List. You can sign up to our email list to get notified of our latest real estate inventory. Most of the deals we come across are heavily discounted and most of the time are not even listed on the MLS.
Second, focus on relationships.
The investment community is much smaller than most people think.
There are only a handful of brokers and investors who conduct most of the business in the market.
They’re used to working with the same people on a regular basis. It’s worth the time and effort to find them and learn from them. If you can, work with them. They’re your best source of good real estate deals, now and in the future.
How do you get to know them? Go to your local REIA and find the people who are active and talk to them. Ask them which real estate agents they use, what wholesalers in the area are active (and get their info) and let everyone you can find know that you are looking for real estate investment properties that fit your criteria. Learning how to identify a good investment property isn’t a hard thing… but relationships can be a key element in getting some of the best deals on properties that no one else has access to in the Texas market.
Who should you get to know?
- A few of the top investment friendly real estate brokers in Texas
- A couple of real estate appraisers who deal w/ the types of properties you deal with
- The top handful of property wholesalers in the area
- The top handful of property rehabbers/flippers in the area
- Title agents that deal with investment properties a lot
Third, identify your target investments.
Real estate investing is like many other aspects of life – the people who are the most focused often succeed the most. You have to find your niche. Some people make millions just in parking garages or storage units.
Others specialize in residential apartments, while others deal strictly with retail. If you take the time to do your homework, you can analyze the different segments of the market to see which opportunities are truly the best for you – and not just the best marketed. Once you find exactly what you want to own, you can create a plan to find out who owns it and make sure that they know to call you when they want to sell that property.
This takes a lot of work, but it’s a tried-and-true method for creating long-term wealth.
Finally – use technology.
Sign up for our list of exclusive properties, and we’ll notify you instantly when we find great investment properties that might fit your criteria.
We frequently source properties for deep discounts, secure them and then sell them for a discounted rate to the people on our list who are ready, willing, and able to invest. There are other ways to get notified about properties on the open market – you should get familiar with searching the multiple listing services with the rest of the herd because every once in a blue moon a great deal shows up.
We don’t deal with average deals – we only pass along great deals to our partner investors. We’re not real estate brokers however we are able to connect other real estate investors with properties we come across. Since we have a steady flow of leads to work per month with we do not always keep any property we come across. This allows us to pass the savings on to real estate investors who are looking for properties for sale but just don’t know where to look or have the systems in place to produce consistent leads.
If you’re looking to seriously invest in the Texas real estate market, we’d love to chat with you to learn your wants, wishes, and objectives.
So hopefully you now know how to find great investment properties in Texas. If you have questions give us a call or join our buyer’s list below!