Real Estate Agent · Snohomish, WA · Member since 2020 · 99 posts · 49 votes
Hi All,
What are some things that a real estate investor should be doing everyday? Checking market trends, calling sellers, etc.? I would love to come up with a strong list of about 4 or 5 things that I can commit to accomplishing daily.
Here are my recommendations for what you should doing daily as an investor:
1. Reach out to sellers of your target asset class that have a problem (unable to sell, bad tenant, financial hardship, etc.), with the intention of getting them to call you to discuss their problem.
2. Contact and then have meaningful conversations with sellers who responded to your previous outreach efforts in step 1.
3. Run financials for the scenarios that involve buying the properties of sellers who you connected with in step 2.
4. Make written offers on the properties from step 3, but ONLY IF your offer actually solves the seller's problem AND makes you money.
5. Follow up with sellers from step 4 who have received offers from you. If they are not yet ready to accept your offer, schedule a time to reconnect in a few weeks to check in on them.
Extra Credit: Add a new professional contact (investor, lender, contractor, attorney, accountant, etc.) to your personal network via LinkedIn, BiggerPockets, etc. Seek to understand what they do and then ask them how you can help them succeed.
Realtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes
3y
I think you should commit to trying to make one connection per day with someone already involved in your local Real Estate market. Investors, lenders, agents, contractors etc. Imagine the network you can create in your local area if you accomplished this goal of one connection per day.
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
Not all investors are created equal. If you are in single family your day is spent being a grown up baby sitter, if you are in commercial you are most likely underwriting deals and raising capital. There is no cut and dry answer.
Real Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
3y
It depends on your niche and strategy. A wholesaler and a buy and hold investor are looking for properties but sometimes in different ways and engaging different people.
As an investor, when I focused on my niche, I readjusted my strategy by providing opportunities for others and providing value. So for me, instead of looking for the next deal, I look for ways to help others through a single initiative as well as in social media channels.
Here are my recommendations for what you should doing daily as an investor:
1. Reach out to sellers of your target asset class that have a problem (unable to sell, bad tenant, financial hardship, etc.), with the intention of getting them to call you to discuss their problem.
2. Contact and then have meaningful conversations with sellers who responded to your previous outreach efforts in step 1.
3. Run financials for the scenarios that involve buying the properties of sellers who you connected with in step 2.
4. Make written offers on the properties from step 3, but ONLY IF your offer actually solves the seller's problem AND makes you money.
5. Follow up with sellers from step 4 who have received offers from you. If they are not yet ready to accept your offer, schedule a time to reconnect in a few weeks to check in on them.
Extra Credit: Add a new professional contact (investor, lender, contractor, attorney, accountant, etc.) to your personal network via LinkedIn, BiggerPockets, etc. Seek to understand what they do and then ask them how you can help them succeed.