We start by looking at maybe 100 properties at any one time that we find via the MLS or other online resources like Hubzu or Zillow. We choose these properties by searching by specific zip codes that we are interested in having properties in.
We will narrow down the list to about 25 that we’re seriously interested in and probably end up making offers on about ten of them. We only make offers on properties that will work for us financially and we’ll know that whatever one or two offers that get accepted will be a profitable property for us.
With the real estate market being so hot right now, you need to go where the deals are at. If your surrounding areas seem to not have as many properties are they did before, maybe you need to expand the areas you are looking in.
Networking is also huge in being able to find properties that are right for you. If you can connect with a real estate agent in your area who understands your business and knows what type of properties you are looking for, it’s great to have them be on the lookout for deals for you.