The idea of becoming a property finder is attractive to those who wish to have a flexible schedule and don't mind working on commission only. These people scout out investment properties, present them to investors and receive a finder's fee in return. If you are motivated to seek out investors and spend the time necessary to find cheap or distressed property, this could be a golden opportunity.
Obtain a list of potential properties by using the Internet. Websites like Movoto.com and Trulia.com offer a comprehensive list of homes for sale, foreclosures and fixer-uppers that you can offer to investors. You can find a specific square footage, number of bedrooms and bathrooms, acreage, list price and other options within their search parameters.
Another way to compile a list of possible investment properties is to drive around and search for distressed homes. If you see a home that looks unkempt, has excessively tall grass growing in the yard and shows few signs of occupation, it may have been abandoned. Make a note of the address to present to investors. Do this with as many houses as you can. You never know when one might be a perfect investment property.
Find investors to look at your properties. You will have to do a little legwork at first, but there are investors all over the place looking to purchase desolate homes. You can search websites like Craigslist.org and check local newspapers. Check the real estate section in the newspaper to find investors looking for bargain homes. Observe advertisements along the highway and roads that offer to buy houses for cash. Make note of the phone number on their ad, call, and find out what they want.
Prepare a package for investors. It will vary depending on what the investor is looking for, but it will generally contain the following: photographs of the property, front and back pictures of house and yard, MLS number, physical address, contact info for the owner if available, and county records that pertain to liens or other issues with the house. You may also include your opinions about the property once you have visited it. Remember, the more information you have on a property, the easier it will be for investors to to determine if it is worth purchasing. This will make the buying process go more quickly and you can collect your finder's fee as soon as possible.
Things you need
- Computer with Internet access
- Cell phone