Long Time Search for my First Investment Property

[Dillon Hamman]

I've been looking for my first investment property for a little over a year now and haven't had any luck. I'm currently looking for both fix and flip opportunities and BRRRR opportunities, hoping that I'll have better luck finding something if I broaden my criteria. I've drove around a couple different area's and jotted down addresses and owners phone numbers for my realtor to call, check Zillow daily, and check Facebook group chats for off market deals. No luck. Does anyone have any tips and tricks on finding deals? I know with today's market, a good deal is harder to find, but I'm wondering if there's another method to find deals that other investors are using. I'm eager to get in the game, just need to find something that makes sense before I pull the trigger.

[Nathan Gesner]

Quote from @Dillon Hamman:

This is an unusual market where properties are priced outside of reality. I have bought 2-3 properties every year for the past six years; this year I haven't bought any and I'm sitting on a huge chunk of cash because of it. I tried investing in other markets and they were swamped with panic buyers snatching up "deals" that seemed cheap compared to California or other markets, but they were still over-priced and too competitive. I think a lot of those buyers will regret their actions in a couple years. 

Long story short, things are over-priced and it's hard to find a good deal. Be patient. Try to find properties off-market by driving for dollars. Tell everyone and their brother what you are looking for, and be specific. Something will come along.