3 Ways to Find Off Deals in Any Market
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Right after I send this blog out, I am heading to view ANOTHER cash flowing property.
Because good deals still exist out there!
Last year when the pandemic hit, the whole world was put on hold. We all held our breath waiting to see what would happen next. I don't think many of us would've guessed the shift in the markets and how prices exploded.
The World changed, so now we have to change!
With this change in the market, we do have options. Option 1 is to sit and wait. Maybe interest rates increase. Maybe the eviction moratorium get extended in some states. Maybe the economy crashes like in a dramatic, burning ball of flames. 🤷 You can sit around waiting and watching and let opportunity pass you by trying to predict the unpredictable. Or... Option 2 is where you embrace that the World is always changing, pandemic or not, and that getting in the game is better than playing it safe.
In the past few months, I have advocated for active investing. This is where I encourage you to go out and make deals happen rather than just waiting for something to fall in your lap.
Here are my 3 tips for active investing:
1. Build Relationships!
Get out and make sure everyone knows what you are looking for. Speak to your Realtor, Contractors you have used, other investors, etc. Each one of those people has a whole other network of people that they know that just might have that off market deal you have been looking for. Right now though, they just don't know that they do. So change that! Join our Monthly Virtual Networking Event this Thursday to connect with others that just might be able to help you! RSVP here. Also, connect with wholesalers to increase your options! Learn more about Wholesaling here.
2. Driving for Dollars!
You have probably heard this term before but if you haven't, it's exactly what it sounds like. Head on out and look in your ideal area for homes that need a little TLC! You cannot get more active than this. It's a great way to learn about your market, neighborhood conditions and to be able to put together a deal with endless term options at your fingertips! Take a listen to the Lady Landlords Podcast Episode here on cold calling to learn what NOT to say when reaching out to perspective sellers.
3. Shop Virtually!
You probably read #2 and said "But I don't want to knock on strangers doors." Or "But I want to buy in a different area." Well, don't worry! I have something for you too! I found a tool that allows me to Virtually Drive for Dollars! Now, I can look in any area without being present. I also don't have to get doors slammed in my face or hung up on anymore. Instead, with the click of a button, I can get access to owner's information and reach out to leads in any market I desire. If you haven't checked out PropStream's software yet, it might just be the answer to your problems. Click here for a FREE Trial!
And here is a Bonus just for you!