Real Estate Investing Basics

Clever Ways to Find Real Estate Deals in Highly Competitive Markets

Expertise: Commercial Real Estate, Personal Finance, Real Estate Marketing, Business Management, Landlording & Rental Properties, Real Estate Investing Basics, Personal Development, Real Estate News & Commentary, Mortgages & Creative Financing
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In this post, I want to provide insight on how I’m still finding deals in a fire hot market.

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Deal-Finding Case Study

Here’s a case study of an actual purchase my company and I made. It’s an 80-unit apartment that was bought in February 2018. We found it through a simple cold call, as easy as it sounds.

What it took was multiple follow-ups. The owner was originally not interested whatsoever, but we were able to convert them into being interested. The key was staying top-of-mind.

Deal by the Numbers

Here are a few more details about this specific property. We bought this building for $3.35 million—a price that's a steal in the current market. An additional $200,000 was raised from investors to take care of improvements. In exchange, they got equity in the deal.

Related: 27 Ways to Find Real Estate Deals

Deal-Finding Methods

Let’s go ahead and get into the actual tactics of how to find these deals. When going direct-to-owner, which is by far my favorite, everything is public information. This means that you find a property like 123 Main Street, and then you can see who the actual owner is.

Some owners who are a little bit less sophisticated may have the property in their personal name; others may have it in an LLC. But once you get that owner name from a simple Google search, you can find out all of their contact information. One source you can use is TruePeopleSearch.com or even BeenVerified.com (but this one is paid).

If the property’s in an LLC, there are other directories that you have to go through, but lots can be done through a simple Google search. Love that phenomenal source.

Another route I love to go is the off-market route, because in today’s climate, everyone’s getting multiple calls and offers, taking the highest and best. Going direct allows you to sidestep that.

But the key thing through all of this, just from my personal experience, is the follow-up. This is what I’m sharing with everyone. This is what will separate you from everyone. It normally takes between six to 12 touches just to get in contact with a decision-maker of a specific property, so you have to be creative. Use text, use direct mail, use cold calls.

And then the last but not least is building a team. You’re only one person. If you have a team, you’re able to delegate certain things—such as researching, such as doing the calls. Some of you don’t like making those calls! I know some of you out there are squeamish about making a cold call to a complete stranger. But if you’re not able to do it yourself, just simply find someone.

There are sources out there like Fiverr.com and Upwork.com. So just delegate and get people underneath you so that you can focus on the more high-value activities of building your business.

How do you feel about cold calling? What other deal-finding methods are you using today? 

Share in a comment below!

Sterling is an multifamily investor specializing in value-add apartments in Indianapolis and other Midwestern markets. With just under a decade of experience in the real estate industry, Sterling w...
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    Mark Rechkemmer Flipper/Rehabber from Cary, NC
    Replied about 1 year ago
    Persistence pays off with not excepting the first no. Very inspiring
    Chand Ramlakhan
    Replied about 1 year ago
    Yeah, blah, blah, blah, we've seen this type of motivational info regurgitated in almost every article/podcast on this site. Don't forget to reassure us also that you can become a millionaire by investing in real estate. The fact that we're here means we've already moved beyond that phase. How about some more details on exactly how you were able to convert an uninterested owner into being interested without annoying him with each of those follow-up phone calls?