Introduction
I’ve been asked this question a countless number of times by family and friends. How do you find those off-market real estate deals? Well, I’ll tell you. It’s not easy. The first thing we need to do is get our mind in the right place so that we can start seeing these opportunities around us.
I’ve been asked this question a countless number of times by family and friends.
I’ve been asked this question a countless number of times by family and friends.
How do I find properties to invest in?
How to be a property investor?
How do I find investment properties?
Well, it’s simple. There are various ways that my team and I look for off market real estate deals:
I’ll be honest. I hated the process at first but after a while you start to see patterns, become familiar with what works and what doesn’t, and the whole ordeal starts to become bearable.
The process can be overwhelming at first. Not only is it intimidating, but when you’re just starting out with this type of work there’s not a lot of existing information that describes how deals are actually found. In order to make sure that I was getting the most out of my efforts, I had to come up with a strategy and stick with it for some time before I started seeing results.
After doing this for several months though, I learned two things: 1) The more deals you find and present to your clients, the better they get; 2) You can’t expect them all to convert into deals (or even close at all).
The first point means that if you want your business model to thrive over time then there needs to be an ongoing stream of leads coming from somewhere…and preferably multiple sources (we’ll talk about where those come from later). This means that even if one source is producing less than optimal results-you should still keep using it until something better comes along (you’ve got nothing else!). It may take some time but eventually something will pay off big time because odds are good that someone else will eventually find value in whatever it is too!
The second point means that you have to be very careful about how much time and energy you put into chasing down deals, especially if they don’t end up converting. A lot of people get very caught up in this idea that every deal has to convert into something positive, but the reality is that not every deal will work out for one reason or another. For example, maybe the price was too high for your client or maybe they just didn’t need what you were offering at that moment.
We use a skill called “mapping” where we create maps in our minds to visualise neighbourhoods and connect dots.
As we mentioned earlier, we have a skill called “mapping” where we create maps in our minds to visualise neighbourhoods and connect dots. To do this, you need your map of the area that you want to invest in or live in, and then you need to put yourself into the shoes of your potential clients.
Here are some tips for how to do this:
- Look at the map of the area.
- Connect the dots using your knowledge about real estate investing and finding off market deals as well as what you know about your own needs and wants for your future property investment company.
We write letters and send them in the mail.
You might be wondering why we send letters through the mail. You may have heard that this is an old-fashioned way of doing things and that it’s not a good way to find properties. Well, I’m here to tell you that there are two sides to every coin and this method of communication can be very effective if done correctly.
Let me explain: There are some major benefits in sending out actual letters in envelopes to people who either own or manage property. For example, it allows us a chance to get our name out there and make connections with others who are interested in what we do (or may want to recommend us). It also gives us an opportunity for personalisation—we’re able use friendly language instead of just making calls or sending emails all day long!
Finally, sending physical letters is much faster than waiting on hold while someone tries answering their phone or checking their inbox because everyone knows how annoying that can be when trying not only to find new clients but also maintaining old ones too!
Sometimes someone will call us from an ad we placed somewhere or from our website or from someone giving them our information and it’s not even a property we’re currently looking for.
Sometimes someone will call us from an ad we placed somewhere or from our website or from someone giving them our information and it’s not even a property we’re currently looking for.
To be honest, sometimes I don’t even want to look at the list of properties they give me because it may take too much time and effort to go look at one of these places. But I’ve learned over the years to just go out with them because there could be hidden gems on their lists that are worth checking out!
There are many ways to find real estate opportunities.
There are many ways to find real estate opportunities.
- Estate agents are a great source of information when you are looking for property investments. They have a wide network and can tell you about the local market, whether or not there is a rental demand for the area and what types of properties in your price range are available.
- Local knowledge is also vital because it’s important to understand how each neighbourhood works so that you can pick up on any trends or changes that could be driving up prices or rents in the area. If you have an agent who lives in town, ask them what neighbourhoods they would recommend investing in at this time.
- Using word-of-mouth referrals from friends, family members and colleagues can help identify opportunities which they may not publicise themselves—like repossessions or off-market listings.
The local real estate board is another source of information that can help you determine whether there is a demand for rentals in your area and what types of properties are available. You can also find out how much homes sold for in recent months and years.
Conclusion
We hope this article gave you some insight into how we do what we do. It’s not always easy, but it’s certainly rewarding!
