Find cheap single family homes

As an investor, especially a real estate investor, you want to get a property that will give you the highest cash flow and ROI (return on investment) possible. Some investors opt for apartment complexes, while others opt for single-family homes. If you are the type who is new to the sand and wants to get your feet wet, the best way is with single-family homes. Depending on your investment strategy, you may want to invest in single-family properties to trade in ownership, live in it yourself, or as a source of cash flow by renting it out to someone else.

The only thing about finding this type of real estate is the high prices you can find. Because real estate prices have skyrocketed in recent years, the price of a single-family-owned home may be higher than you want to pay. However, there is a way out. In fact, you can find cheap single-family properties. Yes, you can practically get one that is a bargain. How is this possible?

Actually, there are many ways to get single-family homes. If you do some research and dig carefully, you may find some resources. Here are some resources you can try that have produced leads for other real estate investors:

o Homes in Need of Repair – One way to find affordable single-family property is by contacting local construction companies. Investors don’t realize that construction companies work closely with real estate agencies, sellers, and even the city or town where you live. They have friends in places you couldn’t contact. They can find out what properties are selling or about to sell and where the properties are located. Don’t be afraid to stop and ask a construction site manager if he knows anything. Just tell him that you’re a real estate investor, and he’ll be more than willing to share what he knows.

o Foreclosures – Another way to find single-family properties is by looking for foreclosures. Get a list of foreclosures from a real estate agent or online, and look them up. There is even a website dedicated to foreclosures. This is the best and easiest way to find cheap single family property. In fact, you can find some properties for practically a penny on the dollar. All it does in many cases is simply pay off the delinquent mortgage.

o Tax Liens – This is one way some investors get involved when it comes to real estate. They usually get a list of tax liaisons from the tax department at the county or local government tax office. You can also find these listings published in the Sunday newspaper. Many types of properties are listed. Just make sure the one you want is a single-family property. In some circumstances, you may have to pay as little as $500 or less for the property.

o HUD – Don’t forget to look at HUD. They have ways to help you finance your first home, but they usually have listings for single-family homes that are cheaper than what you’d find through a real estate agent.

o Bank Auctions – When looking for your next single-family home, why not turn to bank auctions? Many investors have gone into these and made a killing. But before you go to one, do your homework. Check in advance the houses that are up for auction and find out the market value of the houses and the taxes of the area, etc. Knowing these facts will save you a lot of money and time by only bidding on the price that is just below market value. This way, you won’t find yourself spending more than the property is actually worth.

o Distressed Housing: Another way to find a single-family property is to simply drive down the street in your or another neighborhood. Find a house that is really addicted. Look for upturned cars in the driveway, spilled oil or litter, dead or overgrown grass, and an obvious sign of neglect. Also check the neighborhood. How close are you to shops and maybe nearby bus lines? These types of neighborhoods are low-income residents. As such, they are willing to sell their property very cheap just to get out of those conditions.

Finding cheap single-family property isn’t really that hard if you know where to look. Hopefully the information in this article will provide some ideas on where to look for them.

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