rely on the internet - loose out on the deal

It doesn't matter what I'm looking for nowadays the first place I turn is my computer. It lets me shop and compare right from the comfort of my home, anytime I want. For someone who was addicted to those 2am home shopping shows and infomercials when they first came out the Internet is Nirvana. All those choices, unlimited customer reviews, and no annoying sales people. Add to that the ability to buy that blender at 2am in your jammies and what more could you ask for.


For most people the Internet can be a great tool to start searching for real estate. You can research neighborhoods, schools, read blogs to help you decide on which agent you might call, maybe even find a house your interested in. However, if your budget has you needing to find a real "deal" or your an investor looking to make a profit that's another story. It is still a good place to do research, but when your looking for those types of deals you can't rely on an Internet site to find your properties. A lot of people are turning to those multiple "Foreclosure" sites and other sites that promise you the inside scoop on cheap properties thinking their going to find their deal there.

Unfortunately most of these sites are really out of date. By the time the listing finally shows up on them they are long gone. Due to the current rash of foreclosures there are a lot of REO (bank owned) homes showing up on the market right now for some incredible prices. There are also A LOT of investors out there looking for these homes, and they are disappearing as fast as they are listing and usually with multiple offers for the seller to choose from.

For the investor to get a chance at the type of properties your looking for you you have to fall back on more traditional methods. While the Internet is great for doing research, to really find the deals you need to use a combination of old school methods, this may include walking the neighborhoods, talk to people, network, fliers, you get the idea.

One of these tools to use should include working with a real estate agent. They can monitor the local MLS daily for new postings so you can jump as soon as they show up, or with their connections in a lot of cases even before. Through their networking they also often have an inside line on "off market" deals (properties that are for sale but not listed through traditional methodes ie : MLS). They have databases of other real estate related professionals that offer services you may need. They generally have relationships with lenders that keep them updated of any changes or programs that could be an advantage to you. They can look up information for you to assist in valuing a property or watching trends in a specific neighborhood.

Important not only to the investor, but especially to the general home buyer that doesn't buy a lot of properties is that they are also experienced in the difficult process it can be to get these type of deals closed, can make sure that things go as smoothly as possible for you and that you have someone looking out for you. It really is invaluable as a buyer to have someone that is looking out specifically for YOU. Trust me, the seller, listing agent, or the bank certainly won't be.

For investors who buy multiple properties to really take advantage of all they can do for you, you need to form relationships. Like you, agents only get paid if a deal closes, so just like they need to be of value to you, YOU need to be of value to them. Agents are pretty good at telling who is going to be worth their time, and who is just waisting it. That doesn't mean you have to use them for everything you do, but do give some consideration to them and let them know that you respect that relationship and will utilize them on your deals when you can. If you do you will find that your real estate agent can be one of the most valuable tools you have.