Top Ten Tips When Shopping For Investment Beach Property

Posted on | January 3, 2010 | No Comments

If you really want the best deals in investment beach properties, you have to increase your odds by finding more deals. Who is more likely to get a bargain beach property, an investor that looks through the MLS listings and calls it a day, or the one that uses ten resources? Here are the ten:

1. Talk to everyone. Let people know that you purchase beach properties for investment purposes. Many owners may want to sell but feet reluctant to list their beach property because of real estate fees.

2. Search the web. Use Google or another search engine to find bargain beach properties. Simply type in the criteria you are looking for such as price range, number of bedrooms, square footage, etc. You may find a diamond in the rough.

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. Look for abandoned beach properties. Is the lawn high? Does the house lack much need maintenance? These are clear signs that the owner doesn’t want to deal with the beach property for some reason. He may be motivated to sell.

5. Search for old “For Rent” ads. Call the landlord to see if he would be willing to sell. The worst thing he can say is no. the landlord may be willing to entertain a legitimate offer.

6. Talk to bankers. You might get a foreclosed-on investment beach property cheaper if you buy it before they list it with a real estate agent.

7. Hire a bird dog. A bird dog is referred to someone you pay a fee to for finding good deals. Let them bring you deals. This works good for areas you can’t canvas on a regular basis.

8. Eviction notices. Do you know someone at the courthouse? Does your local paper publish eviction notices? The landlord might have just become a motivated seller.

9. Log any FSBO ads. Keep a log of any “For sale By Owner” ads. Watch the beach properties to see if they have sold. Once they a two or three months old and haven’t sold, they many be more receptive to your purchase offer.

10. Put an ad in the paper. “Looking for investment properties to buy,” might be sufficient to generate a few calls.

Hubert Miles is the founder of Waterfront Houses USA, an online advertising service that provides Beach Property For Sale available in the US and Canada. Learn more about Beach Properties in your area.

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