The Tool you NEED to Find Off Market Deals
I hear you! The market is crazy right now! Bidding wars, properties going over ask, all sold within hours of a listing going live! It can be tough and discouraging when you have worked so hard to get that rental property!
But I am here to tell you....those deals still exist!
It's just up to YOU to make them happen!
Real Estate Investing is a relationship business and NOW is the time to leverage those relationships.
Do you want to sit around and watch other investors succeed? Or do you want to be one succeeding?
And I've been there too- getting turned down deal after deal, freaking out with all the cash buyers scooping up properties for thousands over ask (where do they get that money anyways, right?) I actually lost the very first property that I truly fell in love with. I offered WELL over ask and was still outbid by about a dozen people. The property went for more than 120k over ask! Yikes!
I thought we were never going to get a property! But then I realized I needed to learn to think ahead and think outside of the box! Finding those deals can take time, but are sooo worth it in the end! In this biz, we need to make things happen and go after what we want. I know I don't want to be in a 9-5 office until I'm 70 so it is up to me to find my way out to achieve Financial Freedom and the ability to enjoy MY TIME the way I see fit!
So here are two ways you can make it happen: 1. Network! Network! Network!
When most people want to buy a home for themselves, it's easy. Call a realtor, use the MLS, buy a house. Done. We, as investors, have to look at ALL the options and ALL the numbers. But, starting with a realtor is still a good idea. For my first property, it was my realtor that gave me a lead on area that I should be looking in and also found me my second--an off market deal! It was all because I stayed in touch with him and let him know what I was looking for! That's the key! Tell everyone you can what it is that you want...and then you have more people helping you find that right deal! In the lower NY/CT area? Reach out to my realtor for help here. Besides telling people you know about the criteria you are looking for, connect with others in REI! Speak to wholesalers, other investors, realtors, attorneys about what you want so they can keep you in mind when they come across something that might fit for you! Not sure where to network? Join our monthly Virtual Meetup event! Next one is in May so sign up here for the details!
Not sure what criteria you should be looking for? Or where to buy? Get help here! 2. Let's make a Deal
Okay, so you planted some seeds and told people what you wanted. Great. Now, here is how to go out and GET what you want. Start talking to homeowners and see if they want to sell! I know, I know! Crazy, right? What am I suggesting? Just call them? Just knock on the door? Yes. The answer is yes, that is exactly what I am saying! Be an ACTIVE Investor! Don't wait for deals to come to you! First, narrow down what a deal means to you. Now, go out and create that deal! I use a software system called Propstream to help provide me with the contact information for owners in the area I am looking for and I just give them a ring! Propstream provides contact information, financial information on the property, and even provides comps for you! It's a tool that has made my ability to find deals- whether an abandoned house in my neighborhood or one of my long distance investments- all possible! I recently interviewed someone from the company for the Lady Landlords podcast so I am releasing the episode early for those of you on my mailing list here on my YouTube!
Need help narrowing down where you should be looking for deal and how to find them? Hit reply and let me know how I can help!
Happy Deal Finding!