Before we even begin, a facing-facts session is necessary. The prime days of fix and flip may be behind us. A decision needs to be made. Do you want put down anchor and wait for the next cycle to begin? Or do you want to rev your engine and search out unexplored territory? If you favor the second choice, come aboard, but keep it hush. You're about to learn of 5 less-traveled tips to find hot real estate deals before your competition.

The best deals are those you uncover. That means getting out and searching - online, on foot, in your car, or by word of mouth.

Flyer Deals

Make up some flyers, then go out and look for distressed property. The houses may need repairs, the lawns may be entirely weeds. These are deals-in-the making. Leave a flyer in the mailbox, stating your interest, and listing your contact info. Alternatively, you may want to snap photos and make a list of the addresses so you can go home and search public records to find the owners. Send letters stating your interest. Owners of such properties, whether they live in them or are landlords, are often thinking of selling, but are paralyzed by the thought of making the necessary improvements needed. Your letter offering to buy "as is" may be all they need to take that step and make a deal.

Canvas Your Friends Deals

Be a squeaky wheel. Make it a point to let everyone know you're searching for property deals. Lawyers may have clients who need to sell property as soon as possible to settle an estate. Doctors may have patients for whom property is a burden. Plumbers, carpenters, and tradesman can help, as well as courthouse clerks who may have knowledge of newly filed wills and petitions for divorce.

Buy from a Buyer Deals

"We buy houses for cash" signs are everywhere, but especially in neighborhoods with an inventory of distressed houses. Yes, these are your competitors, but that doesn't rule out the possibility of getting a deal on a house they've already bought.

Fed-up Landlord Deals

Being a landlord can get old, real quick especially for those who have been burned. Going through an eviction process can be a tipping point. Eviction notices are public record. Find a list of evictions in your area of interest and make an offer. The rentals on Craigslist can be another source of burnout landlords

Leftovers Deals

While your competitors are busy checking out foreclosures and property auctions, you may be able to make a deal on a house that fell through these cracks, and is now owned by the bank that held the mortgage. A bank-owned REO (real estate owned) property can actually be one of the best deals to be found. Since the last thing a bank wants is to take care of property, they are often willing to pay off liens and make minor repairs in an effort to unload it to you.

No matter what road you take to a deal, cash is your best passenger. Once you've found a property, contact us for information about our fix and flip, fix and hold, and purchase and refinance loans.