Newspapers and Other Publications

To many people, looking for real estate means browsing classified ads with a highlighter, calling owners or Realtors, getting basic information, and, when something sounds promising, setting up an appointment. Although this method can work well, it can fail for two reasons: (1) If a property isn't advertised, you won't learn about it, and (2) if the ad for a property you might be interested in is not written effectively, you may pass it by without serious notice.

To get around these drawbacks, run your own advertisement in the "wanted to buy" column. When you describe the type of property and terms that you're looking for, you invite serious sellers to contact you. When I began investing, I used this technique to locate about 30 percent of the properties I bought.

As another way to use the newspaper, read through the "houses for rent," "condos for rent," and "apartments for rent" ads. Not only will this research help you gauge rent levels, but also you'll see properties advertised as "lease-option" or "for rent or sale." These kinds of ads generally indicate a flexible seller.

To search for potential bargain sellers in the newspaper, also look beyond the classified ads. Locate names of people from the public notices: births, divorces, retirements, deaths, bankruptcy, foreclosure, or marriage. Each of these events can trigger the need to sell real estate. If you contact these potential sellers before they have listed with a sales agent, you stand a fair chance of buying at a bargain price. (In addition, you might subscribe to the "default" or "foreclosure" lists and newsletters published in your area. Buying foreclosures is discussed in Chapter 6.)

Craigslist Profits Blueprint

Craigslist Profits Blueprint

Today, Craigslist is one of the most well known of all online urban communities on the web. It allows people to place free classified adverts relating to various subjects, as well as having forums where people can discuss various topics. Craigslist was founded by Craig Newmark from the San Francisco Bay Area in 1995. Then it became incorporated in 1999. Since its incorporation as of November 2006, there were over 450 cities where a Craigslist has been established.

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