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How to find off-market property investments in 2024 and uncover lucrative opportunities

06/02/2024

Are you on the lookout for untapped real-estate opportunities in 2024? Learn how Nimbus can be your guide to unlocking exclusive investment potential that can help set you on the path to success.

What are off-market properties?

First things first, what do we mean when we say “off-market”? This term refers to properties that are not listed for public sale on the open market at an estate agent or website. Therefore, if you can buy off-market, it presents a great opportunity for real estate investors. This is because you’re not bidding against others in the market. These “hidden gems,” as we like to call them, can be the difference between a deal that makes financial sense – and one that doesn’t.

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Fantastic buildings and where to find them

If the properties aren’t “on-market” the question you may ask is, how do you find them? The answer? You have to go to them! The best way to find off-market properties in 2024 is by employing cutting-edge proptech, such as Nimbus mapping software. You can use it to devise a property strategy, and once you have this focus, use it to hunt for the type of properties you are after.

Why use property data software?

How can Nimbus help? At the click of a button, you can gain insights into potential off-market opportunities that aren’t available to the masses. That means instant visibility of ownership details, property size, planning applications, and planning constraints with a single click. For example, its smart site-finding filters provide a comprehensive view of vital information about a property at the touch of a button – all without leaving your chair or having to trawl through multiple web sites.

Why a property strategy is the best way forward

It’s common sense that when you’re trying to find something, you need to know what you’re looking for. This means rather than randomly hunting around, you need a strategy – so you can develop a plan to find the type of property that you think will work for you. It makes sense for your strategy to be based on something you understand, as that is your best path to success in convincing owners to sell to you rather than a competitor.

So, what type of off-market opportunities should you look for? To give just one example, we’ve all been reading about the decline in retail sales, and distressed owners in struggling markets are more likely to want to sell. As such, turning poor performing retail locations into high-value residential properties could be a winner, particularly in light of the recent loosening of permitted developed rights, and the changes to Class MA.

This is where Nimbus can help: you can use its pre-defined strategies feature to target sites with the correct planning constraints for permitted development rights to be applied, so you can find sites to acquire that will work financially.

Nimbus also allows you to overlay planning activity data, helping you spot trends and seize opportunities as soon as they become available. This is invaluable in enabling you to see any planning applications submitted around a potential site, providing insights into the area’s development landscape and highlighting potential roadblocks, challenges or opportunities.

Nimbus smart-site finding filters

The smart site-finding filters inside Nimbus  include, site and property sizes, uses,
constraints, and more.

Equally, Nimbus’s planning export feature enables you to explore local trends and tailor your approach based on recent planning applications in the area. Savvy investors can utilise this to discover which types of schemes are being proposed in a particular area or search for a competitor to test out their strategies.

Go direct to vendor

Once you’ve chosen a strategy and used Nimbus to track down your properties (using the “My sites” project management tool to keep you organised) you can use the platform to connect with owners at scale.

Those with access to Nimbus know how handy the ownership details feature provides instant information on owners of all lands and buildings, allowing you to see what they’re buying, and on what terms. It will provide you with all the contact details you need to get in touch as start your conversations and we suggest you should do this via good, old-fashioned snail mail. Never underestimate the power of a well-targeted direct mail campaign using personalised letters. Check out our guide to learn more about how to go about the letter-writing campaign.

Get yourself an agent

Of course, buying off-market doesn’t mean you always have to do all the legwork yourself. Staying connected in this game is key. If you can build a solid network of connections within the real-estate industry, you’ll be well placed to hear about any off-market opportunities before they hit the mainstream. The best way to get connected is to attend local events, join online forums, and establish relationships with property owners and industry professionals. If you have a good relationship with a local agent, they can bring great opportunities to you, in return for a small fee. You just have to make sure he or she understands the type of property you’re looking for. And when they contact you, be sure to respond in a timely manner – either to proceed with the deal, or if not, so they can pass it on to someone else.

The potential of off-market

Overall, then, off-market opportunities hold immense potential for investors in 2024 and knowing how to find them can make all the difference when looking to achieve property success.

By getting creative with your strategies and making use of powerful property intelligence tools, you can uncover hidden opportunities and gain a competitive edge in the real-estate market with speed and ease.

Download the complete guide

Want to know more? We’ve put together an eBook guide called Secrets to buying right: The ultimate guide to scaling your property business in 2024. Download it now and get a step-by-step guide on why and how to build a strategy and act on it, to achieve success in the property market.

Nimbus residential guide

 

Ready to embark on your off-market property journey? Contact Nimbus today for a free demo and discover how we can elevate your real-estate investment game. Take the first step toward unlocking exclusive opportunities and achieving your property investment goals.

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