As an investor agent, or as a buyer agent working with investors, finding investment properties can be a difficult task. Remine can help you identify off-market properties that can be worthwhile investment opportunities, whether they're suitable rental properties, Airbnb rentals, or flipping opportunities.
What filters should I focus on?
Below are the filters on the Discover map that will be most useful for you as an agent who invests, or has investor clients, in finding the best leads. Click here to see a comprehensive list of all of Remine's filters.
- The Absentee filter indicates if the owner doesn't occupy the property. A property with an absentee owner is likely rented out or sitting empty. Absentee status is determined by cross-referencing the property address and the owner's mailing address. If the two addresses differ, we display that the owner is absentee. The Absentee filter also identifies those absentee owners who live in state vs. out of state.
- The benefits of this filter are twofold. First, you can target owners with campaigns to sell their homes. You can even tailor your messaging for in-state or out-of-state absentee owners. Renting out your home is particularly inconvenient when you live out of state, so you as an agent can speak to the owner's specific pain points when it comes to dealing with tenants and maintenance from hundreds or thousands of miles away. Second, you can target renters who may be ready to buy by door knocking or sending mailers.
- Distressed Deals
- Foreclosure status can be difficult to track down, unless you are paying for a specific service that specializes exclusively in distressed properties. Remine's Distressed Deals filter identifies the following states of foreclosure:
- Lis Pendens: Latin for suit pending, lis pendens is a written notice that a lawsuit has been filed involving the title to the property, or that there is a legal matter with the owner of the property. The defendant (property owner) has been notified that there is a claim on the property, and the recording is public information. This information is useful to anyone interested in purchasing or financing the property.
- Notice of Default: This filter is state-specific. Notice of default is the official correspondence between the lender and borrower, when the lender expresses its intention to foreclose on the property because the borrower has not made their payments. The borrower may prevent the foreclosure by paying the money owed (plus legal fees, sometimes) by a particular deadline. Some states require that the notice of default be filed with the county clerk. Notice of default is part of the process of a non-judicial foreclosure.
- Notice of Foreclosure (NFS): This filter is state-specific. Notice of Foreclosure Sale is a legal document that notifies the public of the date, time, and location of a foreclosure auction, as well as the address of the foreclosed property. This is typically a step in the process of a judicial foreclosure in a mortgage state.
- Notice of Trustee (NTS): This filter is state-specific. Notice of Trustee's Sale is a legal document that notifies the public of the date, time, and location of a foreclosure auction, as well as the address of the foreclosed property. This is typically a step in the process of a non-judicial foreclosure in a deed of trust state.
Note: This filter is available only with the Pro plan.
Example: Find tear-down opportunities
Remine can help you find potential tear-down opportunities in just a few seconds, by using the Year Built, Property Value, and Home Equity filters. In this example, we target an area where homes commonly exceed $1m in value.
Locate a desired area. Zoom in to an area on the map where property values are high. In this example, more than half of the homes in the visible area are worth more than $800k.
Apply the Year Built filter. A good parameter for potential tear-down opportunities is properties that were built before 1980.
Apply the Property Value filter. In an area where homes commonly exceed $1m in value, you'll want to identify properties that are worth less than $600k. Click here to learn how we get property values.
Apply the Home Equity filter. To find people that may be more motivated to sell, you can find property owners who have at least $500k equity.
By applying these filters, just in this visible section of the map, you've knocked down your list of opportunities from 633 (all properties) to 37 (properties that meet your criteria). Now that you have a clearly defined list of opportunities, you can contact those property owners, let them know that you have interested buyers, and encourage them to sell.
Track the properties. In the upper right corner, click Track All and then create a label. The following are some suggested next steps:
- Leave the filters as is, and drag the map to another visible area. Click Track All, and select the label that you just created. This will add more properties that meet your criteria to the same label.
- View the Property Details page for one property that meets your selected criteria. On this page, you can purchase contact information for individuals or entire households, depending on your subscription plan.
- On the Track page, filter the list by the label you just created. Now you can export these opportunities as a CSV.