If you’re looking for an investment opportunity in Atlanta, then you found the best tool in the market to do so! Real Estate IQ’s Off Market Leads has first-hand information on six types of leads to investing in off market properties in Atlanta, Georgia. Keep reading to learn all about our product, and get ready to find houses with the deepest discounts!
As you surely know, real estate agents and realtors post every house on sale on the MLS. But that doesn’t mean this listing is full of properties. On the contrary, the total number of active listings in August was 9,205, almost a 30% drop if we compare it to August 2020 – and a 2.1% decrease compared to the month before. Moreover, the median sales price in Georgia was $360,000, and although it was a bit less than in July, it was still 17.6% above the prices in August 2020.
Therefore, working with the MLS doesn’t guarantee you’ll find a home nor a reasonable price to invest in it. What it will definitely grant you is high competition since every agent and realtor in the area is looking for the same thing you are, in the same place.
For these reasons, we always recommend real estate investors dive into off market properties! These houses aren’t listed on the MLS yet, because their owners aren’t 100% sure about selling. They are distressed sellers, which means they’re in trouble with keeping their properties. Thus, you might be able to get a more significant discount on the place, even if you have to put in a little more effort to get them to sell.
And the beauty with off market properties is that you can use whatever exit strategy you prefer. If you don’t have enough money, you can simply wholesale the place – here are a bunch of recommendations on that topic! On the other hand, if you have some cash, you can flip it or rent it. Either way, your profit would be bigger because you paid less for the property in the first place.
How to find off market properties in Atlanta?
Well, if you have a lot of time on your hands, you can find off market properties in Atlanta at no cost by driving for dollars. All you need to do is jump into your car and move around looking for garage sales, burned houses, code violations, and other visual signs that might indicate trouble. However, this method won’t give you something crucial for a real estate investor: consistency.
Yes, you won’t have to spend too much money (other than gas and car maintenance) to find a property, but it could take months to succeed. And even then, you might not land that deal – while on this topic, an experienced wholesaler said that, on average, one in 20 sellers end up accepting the offer.
But you could have consistency if you subscribe to an off market listing, like the one we offer at Real Estate IQ. It’s like driving for dollars but without leaving your chair. Our Off Market Leads comes organized in types of leads, and arrive at your inbox every day from Monday to Friday. All you have to do is check out the spreadsheets and find the opportunities that appeal to you the most. And if you choose the Premium version, the skip tracing comes built-in, so you don’t have to spend extra time (or money) looking for homeowners’ contact information.
6 leads to get the deepest discounts
When you subscribe to an off market list, you want to make sure you’re getting the freshest information and the best kind of leads. Though we can’t speak for everyone, our data comes straight from the courthouses. Our research team is responsible for gathering it, analyzing it, and sending it to you. And it usually takes one to two days for leads to get on the list once the paperwork is filed in court, so that means you can reach motivated sellers before anyone else!
At this point, you might be wondering which types of off market properties in Atlanta are included. Thus, here you’ll find the six leads that will get you the best discounts – keep in mind that they may vary by area:
- Preforeclosure* – This list contains people who are in trouble because they can’t pay their mortgages. Sometimes they’re only a few months behind and can resolve the problem; others just stretch the situation with renegotiations but end up back on the foreclosure list.
- Probate* – In this case, you’re working with people who have lost someone and inherited property. Timing is crucial here, as heirs might still be grieving. We recommend patience and consistency: it could take a few months or even a year to close a deal.
- Delinquent Taxes – Here, you’ll find cases where people owe a tax debt, but the county has not yet foreclosed.
- Code Violations – This is like driving for dollars but without leaving your seat. These leads consist of properties that somehow don’t abide by the area rules (i.e., overgrown grass, broken rooks, trash piling up in the front). Sometimes, this is due to the fact that the owners aren’t able to take care of the house and be better off moving somewhere else.
- Divorce* – Divorcing couples can quickly become motivated sellers because they might end up selling their properties and dividing their assets.
- Water Shut-off – We include this lead as an indicator that can be helpful to detect either financial trouble or a vacant house.
Even though you may become an expert at dealing with one or two particular leads, it’s important to have variety. This way, you can see which leads are best in your area, and you have a backup plan if the ones you choose are suddenly affected – like what happened with the evictions and foreclosure moratorium.
If you want to see a detail of the information included in our off market properties in Atlanta, we encourage you to check out this mini-tutorial. In general, every list comes with the recording date and the date it was added to our list. Also, some of them include property characteristics (bedrooms, bathrooms, square feet, garage, pool, and year built), which are extremely helpful when running comps.
And, as we mentioned before, if you subscribe to the Premium Off Market Leads, the leads marked with an asterisk also come with:
- Up to 5 cell phone numbers
- Up to 5 landline numbers
- Up to 5 email addresses
- The contact information of a close relative
- Flags for bankruptcy and deceased
To sum up, having access to off market listings is an excellent idea if you’re looking to maximize your profits. We offer listings with off market properties in Atlanta and Texas, Florida, and Utah. The leads available in each location slightly vary; however, the main goal is the same: giving you a reliable secondary source of properties with substantial discounts and less competition.
Disclaimer: The blog articles are intended for educational and informational purposes only. Nothing in the content is designed to be legal or financial advice.