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Tuesday, July 28, 2009

10 Tips To Buying Investment Beach Property

By Hubert Miles

To get a leg up in the real estate investment world, you have to be proactive. To find bargain beach properties, you need to be actively searching for investment beach properties. Here are ten ways that will help you be a more active investor in beach properties.

1. Network. Talk to as many people as possible about your business. Let everyone you know that you buy beach properties. Offer referral fees for leads that result in the purchase of a beach property.

2. Go online. Do an internet search for the type of beach property you are searching for. Just type in the name of the city, the price range, and other factors that match your criteria to see what is available in the market.

3. Drive through your target neighborhoods. May owners will put up a "For Sale By Owner" rather than pay for a newspaper ad every week. You'll see more beach properties using this method.

4. Locate beach properties that have been abandoned. This is a pretty clear sign that the owner can't or just doesn't want to care for the beach property any more.

5. Find old "For Rent" ads. Call if they are a few weeks old. Landlords are often ready to sell, especially if the haven't yet rented the units out.

6. Call the banks. Obtain a list of pre-foreclosure and foreclosed beach properties. Visit the beach property and make an offer. If you buy before they list it with a real estate agent it saves them from paying a commission.

7. Offer someone a finder's fee. There are people that always seem to hear about the good deals. Have such people coming to you.

8. Eviction notices. Does your local paper print eviction notices in the paper? Is this information available at the courthouse? The owners of these homes may be motivated to sell.

9. Old FSBO ads. If you call on two-month-old "For sale By Owner" ads, and they haven't sold, they may be ready to deal. Owners often give up the effort, but still would love to sell. Help them out!

10. Use the local news paper. By placing an ad in the paper the you are looking to buy beach properties, you may generate some calls from people who have become extremely motivated sellers. - 23196

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