Without a doubt, the COVID-19 pandemic has significantly impacted the world of real estate investing. While there are many uncertainties, experienced and savvy investors know how to find excellent real estate opportunities despite the effect of the pandemic on the real estate market.
In this article, we offer a few helpful tips on how you can find hidden opportunities as a real estate investor.
Work with a real estate agent
If you’re investing in rental properties, a good strategy is to work with a real estate agent in order to find excellent real estate opportunities. Majority of U.S. markets experienced a slowdown in activity, which has caused many real estate agents to lose part of their business. Many will be more than happy to assist you in your search for a good investment property, without leaving you open to potential risks.
Contact the Valarie R. Brooks Real Estate team today to find the best Charlotte, NC real estate investment opportunities.
Tap your network
Another good strategy is to look into your own real estate network. This doesn’t mean getting in touch with only real estate professionals you know. You may know someone who might want to put their home on the market right now, but don’t exactly know how to proceed due to the current situation.
All you need to do is ask around. Talk to some of your friends, former co-workers, neighbors, and other acquaintances if they know someone who might be planning to sell their home. You may just be able to find a great investment property priced below market value due to the limited amount of property buyers.
As a real estate investor, you should also contact people within your real estate network as well. Real estate professionals such as brokers and property managers are often aware of available off market properties in your local area and within your budget.
Get in touch with homeowners
In case you’re unable to find anyone looking to sell their property at the moment, you are likely to find homeowners in your real estate market who are planning to do so. All you need to do is contact them directly.
By searching online, you’ll be able to find homeowners’ data in your local market, and even fine-tune your search by selecting specific property types, sizes, home ages, and more to find properties you might be interested in.
Take advantage of real estate investment tools and platforms
Another good strategy to search for investment opportunities is to make use of online tools. These tools use artificial intelligence, big data, and analytics to identify rental properties that have a good cap rate and cash on cash return.
Finding terrific real estate investment opportunities amidst the pandemic may be challenging, but definitely not impossible. All you need to do is take time to research, make use of the tools that are already available, and have a little bit of patience.
Searching for the best Charlotte, NC real estate investment opportunities? Get in touch with our team at Valarie R. Brooks Real Estate today by calling 704.488.5458, or send us an email at Valarie(at)ValarieRBrooks(dotted)com.