Introduction
Finding a great deal in 10 minutes or less is one of the most powerful things you can do as a real estate investor. You can have dozens of leads in an afternoon, and it doesn’t take long to find opportunities. Here’s how…
Know your investment area.
First, you have to know what’s going on in your investment area. You need to know its demographics and market trends.
The more you know about your target market, the better you’ll be able to determine whether a potential lead presents a real opportunity for you.
Know what you want to accomplish: find a deal in 10 minutes or less.
You will only be able to find a great deal if you know what you want to accomplish. Know your investment goals and strategy, as well as what type of property (residential or commercial) and location that works best for your needs.
Once this is clear in your mind, it will be easier to match properties that meets your criteria quickly because it will help eliminate the rest from your searching.
Get your map on.
The old days were tough – we used to buy an Ordnance Survey map and draw around a 50pence piece to map-out 1000 houses – then walk the streets.
Nowadays we have Google Maps & Streetview, which means you can get into your investment area in a few clicks while still in your pyjamas!
Use the right technology.
You can use technology to find the right deals, locate properties in your area, tag your leads for later action and communicate with sellers and your team.
You’ll want to use the right tools for each step of the process so that you don’t waste time or miss out on opportunities.
Here are a few tools to get you started.
Google Maps (other options are available) – make sure you can drop pins/tag properties.
Access to the Land Registry to locate the names of owners to write to.
A way of sending letters – we use mailing houses and send batches each week. But do what’s right for you.
A spreadsheet to track who you’ve sent letters to avoid duplicating your work, or perhaps sending follow-ups.
Virtually crawl the streets.
You can virtually crawl the streets of your neighbourhood or city.
Use Google Maps, Streetview (or any other similar tech) to see what’s going on in the area. Look for value-add opportunities – houses in poor condition and ones that have been vacant for a while are great candidates!
Also look at estate agent boards as they often show up on Streetview too. If a house has been for sale for a while, there’s no rule against writing to an owner – you know they want to sell!
We’ve even seen some people use drones to fly over neighbourhoods and get an idea of what properties might be worth buying! But that might take more than our 10 minute plan!
Tag the property so you can send a letter later.
Once you have the address, it’s time to tag the property so that you can send a letter later. This is where VA’s (virtual assistants) are great because they can do this for you (and many other things).
- Tag/drop a pin on the property on your map.
- Share your list of pin-drops with your VA so they can write letters later on behalf of your company!
If you are a real estate investor, this is an easy way to keep track of properties you’re interested in. It’s also a great way to keep your VA busy by having them write letters on behalf of your company.
If you’re not a real estate investor, dropping pins is still helpful because it allows you to keep track of properties that interest you. If you’re looking for a new home, then this can be a great way to find one!
10 minutes a day will create more leads than you know what to do with.
10 minutes a day is all you need to create more leads than you know what to do with.
You’ll be able to find deals, close them and make money like never before.
And it’s not just about the money – this will give you time freedom so that you can spend your days doing whatever makes YOU happy instead of stressing over work!
Conclusion
And that’s it! You’re ready to start finding great deals in 10 minutes or less. If you follow these steps, you’ll be able to find more properties in less time than ever before.
