Getting into Real Estate Investing does not seem like a terribly difficult task.
I mean all you have to do is:
- Find ugly property
- Buy it
- Fix it
- Sell it
- Find a bank to put your money in… Right?
Unfortunately that is not the case, there is a lot of hard work that goes into and you have to maintain a high level of persistence to grow beyond a flipper who does a property for fun every now and then, to a successful Real Estate Entrepreneur.
Now there are several ways you can market for property, but..
What works for the experts and the seasoned Investors?
Well take out your paper and pad and I will give you some great points and notes to keep you in the Real Estate investing game!
First and foremost, nothing comes easy! If you want easy get a Job and take orders! If you want to be your own boss you have to… Well, become a BOSS! That means you have to be persistent and stare fear and doubt in the eyes. Make a plan and work that plan! Magical pill takers step aside, this is for the real bosses in the crowd and those looking to blaze their path!
Here are a few places you can find your deals:
Craigslist is free, Yes Free! As a new investor or a journeyman the value of free advertising should never be lost. Now the question is what are you looking for when you go on Craigslisr? Here are some options
Search the FSBO’s: These are generally posted by sellers adverse to the idea of a Realtor coming in, so your offer will fall on welcoming ears when you don’t have a Realtor.
Post an Ad: Post an ad looking for real estate. Due to the simplicity of this notion many people do not do it. That said if it happened 1 in 100 times why wouldn’t you post weekly?!? It’s free and it has actually worked for ME… Seriously!
Wholesalers are a great lead source for looking for property. These are investors that are looking for deals but do not wish to complete the project. They will get a property under contract and then “Wholesale” it to you. It is a great way to get a deal without doing the leg work!
How do I meet wholesalers? – Well, it is quite easy in fact. First, research the local real estate clubs in your locale. Show up with your business cards and go mingle with everyone during the networking time. If you are at a local real estate investment club you will run into several wholesalers. Give them your information and discuss your criteria for investment.
From there review the deals they send over to you. It is that easy, but remember you have to review the deals they send over to make sure they make sense to you! Many wholesalers are beginners or trying to get into the game, so they may not provide the best information to you, so do your Due Diligence!
- Biking for Buys!
Get out your safety gear and pull the bike out of your garage! It is time to hop on that puppy and Bike for Buys!
What is biking for buys you ask? – Well, it is a quite simple but very effective tactic for finding physically distressed property. All you do is arm yourself with a note pad, safely stowed in a saddle bag, fanny pack or backpack, and cruise your prospective neighborhoods and denote the houses that require the most physical repair… Distressed!
I have never taken this off my list of ways to find houses for several reasons: 1) it is a great way to get outside and enjoy some fresh air. 2) it is not used by many so the level of competition on projects you find can be very low, and allow you the ability to negotiate out a deal that is best for all parties. Here is a video I did out biking for buys myself.
Take notes on the addresses that you find and set them up for your door knocking and Direct Mailer campaigns, which ( Segway ) leads me too
- Direct Mailers
This is one of the most time tested, and still effective, tactics for getting in front of your prospects. Create your list within your farm, these can be;
- Biking for Buys list
- Tax Liens
- NOD- Notice of Default
- NOT- Notice of Trustee Sale
There are several ways to get the mailers out, here are a few
- Write them up and drop in the mail
- Write them up and go out and knock the doors!
- Put the addresses together and go to Yellowletters.com and get an order in! CODE is: BETTERTOMORROWGROUP to save 10%. (you can also If you have an issue email us at Support@bettertomorrowgroup.com and we will get it handled!
Don’t forget just mailing the letters won’t close your prospects, so make sure you are ready when they call!
- Rule of 5
This is a concept that you can never let go! It is very simple and I am going to lay it out in layman’s terms.
Everyday introduce yourself to 5 people and give them your card, tell them what you do and you will get a deal. I promise, and the reason why is because this is how I got my first deal!
I still get deals this way every single year, in and out! If you have passion people will recognize it and refer you, from there you build up more clients and that 5 gets even stronger!
This is the least sexy of the ways to find real estate. The reason for that is because EVERYONE is looking on the MLS for deals.
What this means is the inexperienced investors, or those not learning from Better Tomorrow Group, are making offers that don’t make sense, and ruining the sellers expectations for the sale price!
With all of this said, there is still opportunity! Like many difficult things in life, over time competition falls asleep on a good idea when they can’t turn it into returns. Options that can exist in the MLS are;
- Lot split deals
- Slow season properties
- Buy/Hold investments
- “Friendator” Deals
With these bullet points in mind here are the basics on them.
Lot Split Deals– Not often but on occasion you can find a deal that offers the opportunity for a creating additional lots and properties. This is a HUGE opportunity when it comes up, that said it is VERY HIGH RISK! Please don’t take these risks without reaching out to me or running them through the forums on bettertomorrowgroup.com.
Slow Season Properties– This comes but once a year. These are homes that must sell now and are being put on the market during the slow season, November- February. Only serious sellers and buyers play in this market. I have made a deal to do the most business this time of year each and every year!
Buy/Hold– if you are looking for passive income you can find it here. If you want to know what to do with that cash check out the BTG Rigging Your Mind For Rich program at Riggingyourmindforrich.com
These are some of the ways you can find deals out there for you to start flipping! For more ideas grab a FREE COPY of my book and see what else is out there. Also stay tuned to the blog for more get information on flipping and real estate investing. Please comment below with any questions you have!
Andrew T Greer
CEO Better Tomorrow Group
Andrew is an active investor, speaker, Realtor, serial entrepreneur, and educator in all that is Residential Real Estate. If you would like a FREE copy of his book follow this LINK. If you would like to follow him on Social media you can find him on Instagram @beastmoderealestate and @bettertomorrowgroup on Twitter/Periscope @TheBTGRoup and Facebook at Better Tomorrow Group.