What You Have To Know About Tracking down Odessa Investment Homes To Buy
Lots of investors are looking to get started, and as active real estate experts in Odessa , we get asked to share our secrets quite a bit.
I guess it’s a good thing we like to pay it forward :]
If I had to pick the most popular question of all that we get- I’d say the most popular is, ” How would I find fantastic investment houses in Odessa?””
With the flood of foreclosure deals all but dried up (compared to where they were a few years back)… people are having to get more creative in finding the best deals on great local Odessa investment properties.
At Glymph Properties we recognized early on that there is no one right way to find local Odessa investment properties. We find our deals directly from owners and indirectly from brokers & wholesalers, our website , classified posting sites, traditional letters/postcards, and from “bird dogs” (acquisition agents).
Below we’ll share some things you can do to find local Odessa high ROI investment properties to add to your portfolio.
Most investors are afraid of competition – they think that if they share their secrets, someone will steal their ideas from them.
I guess it’s a good thing that we feel that the more we help, the more information we put out there, the more business will come our way. We work with other investors to accomplish things together that we can’t do alone.
We share our learning and our philosophies here because we want to improve the quality of investment in Odessa to build stronger communities. Ultimately, we’re all investing in the same places, so it makes sense to do it right.
There’s a few core principles that are important to understand if you want to get the best investment property deals.
First, think long term.
Real estate doesn’t move like the stock market. It’s where people live, work and play – not just numbers on a screen. It’s almost impossible to make a huge amount of cash in a short-term real estate deal, those come few and far between.
So don’t expect to get away with fancy tricks, or that you’re smarter than the people who have been doing this stuff for years. Thinking long-term means learning from the past to better anticipate the future.
Also, realize that real estate investing is a marathon not a sprint. Being successful as a real estate investor means being steadfast, stubborn, and patient. Don’t be in a hurry to conquer the investing world- It’s going to take time, but if you stick with it you can be as successful as you’d like.
That’s why it’s a great idea to find several sources of properties that fit your criteria (like our Odessa Investment Property Buyers List >> ) so you have a heavier flow of great deals to look at.
Second, focus on relationships.
The investment community in Odessa is much smaller than most people think.
There are only a handful of brokers and investors who conduct most of the business in the market.
They’re used to working with the same people on a regular basis. It’s worth the time and effort to find them and learn from them. If you can, work with them. They’re your best source of good deals, now and in the future.
How do you get to know them? Go to your local REIA ( Real Estate Investing Association) and find the people who are active and talk to them. Ask the most active folks there which good ( by good I mean actually have deals priced at wholesale vs retail- there’s a huge difference)wholesalers in Odessa are active- get their info- and make sure to find out which realtors, and title companies they work with. As a matter of fact- let anyone you meet at the REIA know that you are looking to buy Odessa investment properties that fit your parameters- you never know who your next deal is going to come from. Learning how to find good investment property in Odessa isn’t a hard thing… but relationships can be a key element in getting some of the best deals on properties that no one else has access to in the Odessa market.
Who should you get to know( Hopefully all the random symbols will really make you pay attention ;-))?
*** The top investor friendly Odessa real estate brokers***
***A couple real estate appraisers who deal w/ the types of properties you deal with***
***The top handful of property wholesalers in the area***
***The best Odessa property rehabbers/flippers***
***Title agents that deal with investment properties a lot***
Third, identify your target investments.
Investing in Odessa is the same as investing in any other city on the planet, you have to be focused. You have to find your niche- focus on what will make you money. Some people make millions just in parking garages or storage units.
Others specialize in residential apartments, while others deal strictly with retail. If you take the time to do your homework, you can analyze the different segments of the Odessa market to see which opportunities are truly the best for you – and not just the best marketed. Once you find exactly what you want to own, you can create a plan to find out who owns it and make sure that they know to call you when they want to sell that property.
Although it takes a whole lot of work- it’s the most dependable strategy to create long-term, generational wealth.
Finally – use technology.
Sign up for our list of exclusive properties, and we’ll tell you instantly when we find a great investment. We frequently source properties for deep discounts, secure them and then sell them for a discounted rate to the people on our list who are ready, willing and able to invest. There’s other ways to get notified about properties on the open market – you should get familiar with searching the multiple listing service with the rest of the herd, because every once in a blue moon a great deal shows up.
We don’t even look at anything remotely average – we only pass along great deals to our partner investors. We’re not real estate brokers, and our business is a niche within Odessa.
If you’re looking to seriously invest in Odessa, we’d love to chat with you to learn your wants, wishes, and objectives.
So hopefully you now know how to find great investment properties in Odessa. If you have questions give us a call or join our buyers list below!
Give us a call at 888-509-6267 Ext 3 or fill out the form to get started now.
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We’re happy to help you find answers to your toughest questions about Odessa, Texas real estate, so please feel free to call us at 888-509-6267 Ext 3 and chat with us anytime.
Are you looking to find other properties to invest in… visit our investor website or give us a call anytime at 888-509-6267 Ext 3 for Great High ROI properties
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