How To Find Off-Market Deals in Spokane WA
One of our 𝑚𝑜𝑠𝑡 𝑒𝑓𝑓𝑒𝑐𝑡𝑖𝑣𝑒 ways to find investment properties in the Spokane area is through off-market deals.
What does off-market mean? These are homes that are hidden gems that aren’t listed on the usual platforms, giving us a unique opportunity to make a move with no competition.
By tapping into our local network, having conversations that “𝑤𝑒'𝑟𝑒 𝑎𝑙𝑤𝑎𝑦𝑠 𝑙𝑜𝑜𝑘𝑖𝑛𝑔 𝑓𝑜𝑟 𝑜𝑓𝑓-𝑚𝑎𝑟𝑘𝑒𝑡 𝑝𝑟𝑜𝑝𝑒𝑟𝑡𝑖𝑒𝑠", actively pursuing potential leads for homes and using the strategies we talk about here we discover and act on homes for usually a 𝑚𝑢𝑐ℎ cheaper price.
- Public Records: Check out public records for properties that are in pre-foreclosure, undergoing divorce proceedings, or have delinquent taxes. These situations can sometimes lead to off-market sales as owners might be motivated to sell quickly and privately.
- Door Knocking: It's old-fashioned but effective. Going door-to-door in your target neighborhoods can lead to direct conversations with homeowners. Some might be considering selling but haven't taken steps yet. Your direct approach AND MARKET KNOWLEDGE could be the nudge they need.
- Estate Sales: Keep an eye out for estate sales in the area. These can be indicators that a property may soon be on the market, and approaching the executors or family members directly could lead to an off-market purchase.
- Drive For Dollars: Literally drive around neighborhoods and look for signs of neglected properties – overgrown lawns, piled-up mail, or houses in need of repair. These can be indicators that the owner might be open to selling, especially if they’re struggling to maintain the property.
- Networking & Events: Connect with local real estate agents, contractors, attorneys, and estate executors. They often know about properties before they hit the market. Attend local real estate events, join real estate investment clubs, and don’t forget social media groups related to real estate in Spokane. The more people you know, the more likely you are to get a heads-up on an off-market deal.
Each of these methods requires a bit of legwork and relationship-building, but they can be incredibly effective in uncovering those off-market properties. Connect with us to learn more about how you can find off-market properties!