State Specific Question About: MASSACHUSETTS (MA) what is the best way to find rental property to purchase not in MLS? Newpaper?

walk or bike in the areas you want to buy & look for the clues.

You have to look for property that no one else is looking at to get the best deals. Newspapers work in some markets, not so much in mind.

Word of mouth is good and cheap. Tell as many people as you can that you're buying houses. Pay finders' fees. Business cards go well with this.

Door hangers in neighborhoods you're interested in. "I Will buy you House for CASH in 5 days! Not selling but want $500? Send me a referral!"

Bandit signs where legal.

Drive around looking for FSBO signs. Call on the really dumpy ones.

That ought to get you started...

rlm, Advertise YOU as a buyer. Everywhere and to everyone.

Buy cards by the THOUSANDS and print in bold letters I BUY HOUSES. Classy cards do not get a response. Mine are plain and bold with red I BUY HOUSES.

Post and pass out flyers EVERYWHERE. If your spouse deos not call you crazy, you are not doing enough.

Run ads I BUY HOUSES.

Send letters to attorneys, ins agents, realtors...

At your local LL assoc, pass out flyers.

I pass them out at the sheriff sale - a room full a deal makers!

The more the house is advertised, the less a deal it will be.

Since 2009, I have been using my Handyman Special advertisement in the newspaper to find housing deals. My Ad works like a charm. The house sellers call me now instead of me calling them.

Don...you are correct that a person who engages in professional real estate activity cannot be compensated without a license in most states, with about a dozen or so exceptions. However, what I propose is if Bubba calls me up and says his friend from work has a house to sell, Bubba will receive a voluntary gift from me of five crisp $100 bills. My attorney agrees this is an ethical and acceptable business practice.

David,

When I say mint condition, I am referring to what I call "ready to rent" and not "ready to sell to the retail buyers market".

To get this house ready for the retail market means improving the curb appeal (trimming hedges, raking leaves, cutting down a dead tree, hosing the dirt off the vinyl siding on the house). Plus, the inside of the house is 'dated' in that it has that 1970's look (do you remember Avocado green bathtubs?),...but most of my tenants don't care about dated interiors as long as the house is clean on the inside,...and this one shines like a new penny.

Plus, listing with a RE agent is not a guarantee here. RE agents here only sell 30% of their total listings which means the other 70% go back to the seller or to another agency. There are brand new houses here that were built in 2008 (when the market crashed) that continue to sit vacant and unsold,..even after 4 RE agencies have tried to sell them! Again, listing with an agent is no guarantee of anything.

What I offer the seller is Cash and a guarantee that I will buy his house in "as is" condition just as soon as my attorney can get the Title work completed.

Dear rlm, I live in Massachusetts and Florida. Prices are absolutely crazy in Mass.

I went to an open house for a triple decker (three family apartments stacked on top of each other) on Mass. Ave. in Arlington today.

$550K with an additional $200-300K needed in repairs. I'm not sure anything in the house was worth saving.

I'll shop in Florida, thanks!

Jane

It means lots of things, generally real estate that is not used for its highest and best use, ie its most profitable use.

It can be old houses, vacant lots, woods, commercial buildings whatever.

The land and various zoning regulations along with what the market is doing determines its value; whats currently on it may or may not be suitable.

A typical old house is around $10k to crunch up including tipping fees.

Roy, Would you walk us through that whole deal?

How ya did it, step by step? Thanks in advance for