How to Find Fixer Upper Homes (A Step-by-Step Guide)

How to Find Fixer Upper Homes (A Step-by-Step Guide)

How to Find Fixer Upper Homes (A Step-by-Step Guide)

Finding fixer upper homes takes more than scrolling Zillow on your lunch break. The best deals rarely sit on public listings long enough for casual browsers to notice.

Whether you're a first-time flipper or an investor looking to expand your pipeline, this guide walks through the exact steps to find properties with real upside—before the competition does.

Why Fixer Upper Homes Make Sense

Fixer uppers offer something few turnkey properties can: built-in equity.

You're buying at a discount because of deferred maintenance, outdated finishes, or minor structural issues. After repairs, the property's value jumps—sometimes by 20% to 40% depending on the market and scope of work.

For investors, that spread between purchase price and after-repair value (ARV) is profit. For homeowners, it's instant equity and a chance to customize without paying retail prices.

The catch? You need to find them first.

Step 1—Search the MLS the Right Way

Most buyers search the MLS by price and location. That's fine for move-in ready homes, but fixer uppers require different filters.

Start by adjusting your search criteria:

Use keywords in the listing description. Search for terms like "investor special," "handyman special," "TLC needed," "sold as-is," "estate sale," or "motivated seller." These phrases signal distress or deferred maintenance.

Filter by days on market. Homes sitting for 60+ days often have issues—either price or condition. Longer DOM usually means fewer competing offers.

Look for price reductions. A property that's dropped 10% or more may indicate seller motivation. Combine this with keyword filters for better targeting.

Check "fixer upper" or "rehab" boxes if available. Some MLS platforms let agents tag properties as investor-friendly. Not all agents use these tags, but when they do, it's a shortcut.

The MLS won't show you everything, but it's still a valuable starting point—especially in markets where agents list distressed properties to reach a wide audience.

Step 2—Go Off-Market

The best fixer upper deals never hit the MLS. Sellers list with agents when they want top dollar and are willing to wait. Distressed or motivated sellers often want speed and certainty instead.

That's where off-market fixer upper homes come in.

Off-market properties are sold privately—through direct seller contact, wholesalers, or agent networks. Because there's no public listing, you face less competition and gain more negotiating room.

Common off-market sources include:

Direct mail campaigns. Send postcards or letters to owners of vacant properties, code violations, tax delinquencies, or inherited homes. Consistency matters more than volume.

Driving for dollars. Drive neighborhoods and note houses with overgrown lawns, boarded windows, piled mail, or visible disrepair. Look up the owner and reach out.

Wholesaler lists. Wholesalers contract properties and assign them to buyers for a fee. You pay a bit more than direct-to-seller, but skip the sourcing work.

Probate and estate sales. Heirs often inherit properties they don't want to manage. Probate listings can be goldmines if you're patient with the legal process.

Foreclosure auctions. Pre-foreclosures (before auction) and REO (bank-owned) properties offer discounts, but require cash or fast financing.

If you're serious about deal flow, off-market is where you'll spend most of your time.

Step 3—Build a Network

Real estate is a relationship business. The more people who know you're looking for fixer uppers, the more deals will find you.

Start by connecting with:

Real estate agents who specialize in distressed properties. Not all agents work this niche. Find one who does. Ask about their investor client base and how often they come across pocket listings. Working with an agent to find off-market deals can give you access to properties that never go public.

Contractors and inspectors. They see distressed homes before anyone else. A good contractor hears about upcoming projects, estate cleanouts, and owners who are overwhelmed by repairs.

Other investors. Join local real estate investment groups (REIA), Facebook groups, or BiggerPockets forums. Investors often share deals that don't fit their criteria but might fit yours.

Wholesalers. Get on their buyer lists. Respond fast when they send deals. Wholesalers remember buyers who close quickly and stop sending deals to tire-kickers.

Networking isn't about collecting business cards. It's about staying top of mind so when someone hears about a fixer upper, they think of you first.

Step 4—Know What You're Looking For

Before you start hunting, define your criteria. Chasing every lead wastes time and money.

Ask yourself:

What's your budget? Include purchase price, repairs, holding costs, and contingency (always budget 10-15% extra for surprises).

What's your target profit or cash-on-cash return? Know what makes a deal worth your time and capital. Don't chase properties that won't hit your numbers.

What's your skill level? Cosmetic rehabs (paint, flooring, kitchens, baths) are beginner-friendly. Structural work (foundation, roof, major systems) requires more expertise or a trusted contractor.

What's your timeline? Flips need speed. Rentals can tolerate longer holds. Your timeline affects which deals make sense.

What neighborhoods are you targeting? Research the areas where you're considering buying. Look at school ratings, job growth, development activity, and buyer demand. Understand the neighborhood fundamentals and decide where you're comfortable investing.

Clarity on these points helps you say no to bad deals and move fast on good ones.

Step 5—Move Fast When You Find One

Fixer uppers don't sit around. When you find a solid deal, you need to act.

Here's the process:

Run a complete profit analysis immediately. Start with ARV and work backward, subtracting all costs: selling expenses (agent commissions, staging, closing costs), rehab, holding costs, acquisition costs, and purchase price. What's left is your net profit. Then calculate cash-on-cash return to see if it meets your criteria.

Visit the property within 24-48 hours. Bring a contractor if possible. Walk every room, check major systems, and note big-ticket repairs.

Make an offer. Don't wait for perfect information. You can complete thorough due diligence before finalizing, but speed wins deals.

Get pre-approved or have proof of funds ready. Sellers take you seriously when you can prove you'll close. Cash is king, but hard money or portfolio loans work too.

The biggest mistake new investors make is over-analyzing. Perfect deals don't exist. Good deals do, and they go to buyers who move fast.

Common Mistakes to Avoid

Even experienced investors mess this up sometimes. Here's what to watch for:

Falling in love with a property. Emotions kill deals. Run the numbers. If they don't work, walk away.

Underestimating repair costs. Always get a contractor's estimate. Your guess will be wrong. Budget for contingency.

Ignoring the neighborhood. Research the area thoroughly. A cheap fixer upper in a declining area is a trap. Buy where there's demonstrated buyer demand and market stability.

Skipping due diligence. Always inspect. Always verify zoning and permits. When buying from The von Group, you have a title contingency—our closing attorney handles title search and clearing any issues, but we strongly recommend purchasing title insurance. For other sources, verify title during your due diligence period.

Waiting too long. Hesitation costs you deals. If the numbers work and the property checks out, make the offer.

What to Do After You Find a Property

Once you've found a fixer upper and your offer is accepted, the real work begins.

Conduct a thorough inspection. Hire a licensed inspector and walk the property with them. Focus on foundation, roof, HVAC, plumbing, and electrical. These are your big-ticket items. What to look for when buying a fixer upper covers the red flags that can make or break a deal.

Finalize your financing. Whether you're using conventional, hard money, or cash, lock it in. Don't let financing delays kill your deal.

Plan your rehab. Create a scope of work and timeline with your contractor. Get multiple bids if it's your first project.

Close fast. Sellers love certainty. Close on time or early and you'll build a reputation that brings more deals your way.

How to Build a Consistent Pipeline

Finding one fixer upper is great. Finding one every month is a business.

Consistency comes from systems:

Dedicate time every week to sourcing. Block out time for driving neighborhoods, sending mailers, or reviewing wholesaler lists.

Track your leads. Use a simple spreadsheet or CRM to log properties, owner info, and follow-up dates.

Follow up relentlessly. Most deals come from the second, third, or fourth contact. Persistence wins.

Refine your criteria as you learn. Your first deal teaches you what works in your market. Adjust your filters and focus accordingly.

Partner with professionals. Don't do this alone. Work with agents, contractors, and lenders who specialize in investment properties. How to buy a fixer upper breaks down the full process from offer to closing.

The more consistent your sourcing, the less you'll worry about where your next deal is coming from.

Ready to Find Your Next Fixer Upper?

You don't need to figure this out alone. The von Group specializes in helping investors and buyers find off-market and distressed properties before they hit the MLS.

We've closed 150+ properties since 2024 and maintain a steady pipeline of fixer upper deals in the Atlanta area and beyond.

Get access to off-market deals here.

Need financing help? Check out our financing resources to connect with lenders who understand investment properties.