Tips for Finding Off Market Rental Properties in Miami
As a real estate investor, you know that finding deals is the key to success in building a portfolio of investment properties. What do you do though if you live in a tight market and the deals are hard to find? The answer is you have to search for them off-market.
In this article, we will share with you several tips for finding off-market rental properties in Miami Florida.
Tips #1 – Driving for Dollars
This is by far one of the oldest, and time-tested ways of finding off-market rental properties but the reason why it’s time tested is that it works.
To find off-market rental properties the thing to do is get in your vehicle and start driving the areas where you want to buy rental properties.
You should specifically be searching for rentals that are in an obvious state of disrepair because this is a sign that the owner may have fallen behind financially and be inclined to sell their property.
Tip #2 – Check Local Rental Ads
Another handy way to find off-market rental properties is to check local rental ads. This is a great way to find properties because of many times if you are acting like a renter. You can get in direct contact with the owner of the property instead of having to find out who they are by looking up their contact information via tax records.
Besides checking rental ads for the Miami area, you should also look for rentals that are outside of the Miami area because there may be potential deals that are within 30 minutes of Miami.
Some of the towns close to Miami that you should check out include:
- Gladeview, FL.
- Key Biscayne, FL.
- Coral Gables, FL.
- Miami Shores, FL.
- West Little River, FL.
- Pinewood, FL.
- Miami Springs, FL.
Tip #3 – Work Your Connections
Last of all, but most important, another great way to find off-market deals is to work your connections. There may be other off-market rentals that have owners that are interested in selling.
You should also connect with a local Real Estate agent as well because the agent may be able to provide you with information on pocket deals or off-market rentals that may be coming up for sale.
Contact Miami Property Management, LLC
At Miami Property Management, LLC we’re the best source in Miami for sourcing, acquiring and managing rental properties. To view rental properties for sale in Miami, or to speak with us about our property management services, contact us today by calling (305) 428-3904 or click here to connect with us online.
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