If you don’t already know it, your local newspaper creates a substantial part of their income by selling ads in the classified section of its publication. And these advertisements have reached a new level in many local markets – the Internet. With the boom of the Internet and its use, more and more local newspapers have added a website to their advertising arsenal, which transcends into a tremendous benefit for you, both as a marketer and a searcher of properties that you can buy as investments. But how to find them? And does it require a subscription to the newspaper?
Using the Online Versions of Newspapers
The answer to having a subscription to your local paper is an emphatic no. Look at from the point of view of the newspaper, if they post their classified information online, then they are bringing in a whole new market to their advertisers. Since their advertisers are paying, it only makes sense to increase the value of their service providing free access to the ads via the Internet.With less people buying newspaper subscriptions and going for the online route, this has become a great way for newspapers to continue to stay profitable. So many, many local papers have adopted the use of the Internet into their business plan.
How to Find Those Investment Gems via Your Online Newspaper
You should be able to easily find those classifieds by simply typing in the name of the newspaper into Google or another search engine. So for me, I would type “Temple-Telegram”, and the first listing is my local newspaper. So I would then click on that link, and find the classified section for real estate, and then begin to pick through the listings to find a property that had promise. But what should you be looking for?
Focus on the For Sale By Owner type listings, you are going to have more success in your negotiations if you steer clear of realtors. In fact, this is another reason why I say that you should get a real estate license – so that even if you aren’t able to close the deal, you have made contact with a seller, you have created a sense of trust that you know what you are doing in the field of real estate, and you might even be able to pick up a new listing.
Keywords like “OBO” (or best offer), “Will Negotiate”, “Needs a little TLC” (tender loving care), “Handyman Special”, etc. are great indications that the owner is willing to negotiate. That’s the key in this game of real estate investing, you have to find motivated sellers, or they just won’t come down to a price that will work for you to be able to make money. Make no mistake, if you buy in at market price, you will not make any money (at least not in the short term, anyway).
In closing, don’t get discouraged when you hear “no” time and time again. It is a simple numbers game, if you go through enough properties you WILL find a seller that is willing to deal, and you will land a profit pulling real estate investment. Make sure to subscribe REGA, my free newsletter informing you of automated tools and business techniques to sky rocket your real estate business, enter your details below and click “Automate My RE Business”.