Sources of Quick Deals in Real Estate Investing

Banks can be an excellent source if you are looking for quick flip ways to turn a profit in real estate investing. When lenders foreclose on properties for nonpayment of mortgages, they often resell the properties at very low prices through public notice. With a little work in getting to know the workout officers at the lender (the people in charge of properties whose loans are in default), you might be able to get first refusal on a property where foreclosure is pending. At the very least, you might get some advance notice that a property is coming up for sale.

Lawyers often are asked to liquidate properties to settle estates, divorces, and other problems. Sending letters to local attorneys to let them know you are a viable buyer who can act quickly may get you on lists that produce quick flip opportunities. Accountants, frequently consulted for financial advice, sometimes are asked about ways to change financial situations. Their advice can result in a decision to sell a property. As with lawyers, letters to accountants may produce some buying opportunities. And if you will be selling investment property that has a cash flow, the accountants may be a source of buyers for your completed projects.

Buying property that is being liquidated to settle a bankruptcy or a divorce can produce quick flip deals. Buildings damaged by fire sometimes can be sweet deals for experienced rehabbers. Any property that can be rezoned for more profitable use, such as a house rezoned for use as office space, can provide quick flip potential. Raw land usually doesn't offer quick flip opportunities, but in some cases it can. Most properties suitable for quick flips are right under the noses of investors who fail to dig deeply enough to see the real value.

Any real estate may have potential for a quick flip, so look for hidden value in every ugly duckling property you encounter. After awhile, you will begin to develop a sense of what to look for in various types of property. The amount of time you have available to dedicate to your searches also will affect how successful you are. With enough time and some learned researching skills, you should be able to start spotting deals that can quickly be turned into profitable ventures in real estate investing. The important key is to keep a free and open mind, and approach them all with a sense of being a buyer after the flip has completed.