How to Find Condo Investors

Market your condominium effectively to investors to improve chances for closing the deal.

Investors purchase real estate to build wealth through leverage. For relatively small down payments, you may take out mortgages to control hundreds of thousands of dollars worth of property. Condominiums provide ideal entry into the real estate market because of their accommodative price tags. Condominiums feature lower purchase prices and demands for upkeep---in comparison to detached homes. Of course, matching buyers and sellers together is essential to complete any real estate transaction.

Things You'll Need

• Real estate appraisal
• Real estate classified advertisements
• Internet connection

Instructions

Identification

1. Define your real estate objectives, before seeking out condo investors. The primary reason for locating condo investors is to sell your own property. However, you may also be in search of other investors to share strategy and pool money together for larger purchases.

2. Hire a professional to appraise your condominium up for sale. The appraiser will value your property according to comparable real estate, or comps, from the immediate area. Make inquiries pertaining to upgrades that can be made to enhance your selling price. The appraisal serves to define the type of condo investor you wish to attract. For example, if the space needs fixing up, you will target do-it-yourselfers to buy the condominium.

3. Perform online searches for real estate to understand your market. You should also read the real estate advertisements within your local newspaper. Recognize housing trends, so that you may speak knowledgeably when meeting prospective investors.

4. Record the contact information for homeowners and real estate agents that are selling properties similar to yours. These people may be looking to invest in condominiums with the profits earned from closing their own deals.

Networking

1. Begin your networking by informing family, friends and trusted associates of your search for condominium investors. Describe your objectives and property in detail---so that your inner circle may help you to brainstorm referrals for buyers and real estate agents. Of course, one of your personal acquaintances may emerge as a potential buyer.

2. Contact area real estate agencies to discuss and coordinate plans to sell your condominium. Real estate professionals are able to draw upon a large network of current prospects, while providing marketing materials to increase demand. Make the decision to work exclusively with the real estate agent with which you feel the most comfortable.

3. Attend business functions that draw out people with excess savings that may be looking to invest. These functions include real estate seminars, chamber of commerce meetings, and even political fundraisers. Use tact to work the room and gauge interest levels.

4. Visit real estate auctions in your area. County treasuries host auctions related to tax lien sales that attract investors.

Tips & Warnings

• Use Internet social networking tools to search for condominium investors. Blogs, Craigslist and Facebook pages draw like-minded individuals together, irrespective of geography.

• Real estate may require several months to sell. Establish at least six months worth of your living expenses in cash reserves to manage risk.

References

• U.S. Bureau of Labor Statistics: Real Estate Brokers and Sales Agents
• National Association of Realtors: Get a Realtor
• National Association of Realtors: How to Price Your Home

Resources

• The Motley Fool: The Risks of Real Estate