In my investing group called Kingdom Investment Networking Group, I teach my partners how to establish an area of expertise to find distressed properties or distressed people.
To clarify, distressed property doesn’t have to mean an “Ugly House.” A distressed property could also be one that is not living up to its highest and best use. For example, today I found a 625 square foot 2 bedroom 1 bath house built in the early part of the last century on an acre in the middle of Phoenix. This area has an overlay zone that states you could possibly build 15 to 30 units per acre.
Ladies and gentlemen, this property doesn’t want to be one home. It wants to be 15 townhouses basking in the Phoenix, Arizona sun.
I just finished reading a real estate research article from Net Value Central which showed nearly 40% of all residential sales transactions occur outside of multiple listing services.
In your own area of expertise you have to find opportunites with door knocking, relationsihp building, and direct response marketing. Don’t think the multiple listing services is the only way to get to financial freedom in real estate.
Happy Investing!
Kendall E. Matthews
Phoenix, Arizona Real Estate Investments