First Steps to My First Deal

2 Replies

May 1st 2015 I am taking my real estate investing seriously, and now I am working on getting my first deal. Just a bit of information I live in Delaware.  Being a loan officer for over 10 years I understand the finance side, and I feel very comfortable speaking the language of real estate and speaking with real estate professionals and people in general.

So, I'm hoping what I know will shorten my learning curve.  But, here's the problem; I've never been good at marketing my business. But, I've been good at marketing myself.

Now that I'm seriously looking for my first deal in this new endeavor I want to get up and running as quick as possible. (I know all new investors probably say that) I listened to a podcast that spoke about absentee owner and listsource.com. My question: Is there certain filters/criteria I should put in when I put together my list?

I really don't want to use bandit signs, but I want to use at least two methods to find sellers.  Any suggestions?

Thank you all

Create A GREAT DAY

Hi Ariq,

First off all as an investor, I'd recommend you'll do some market analysis, and choose the best location for investment.

You can find the best property in a sinking location while average properties in a better location would have yielded greater returns.

We at algoreit.com have started creating public tools for market analysis.

Also we are now publishing our exciting key findings of our extensive real estate market research: blog.algoreit.com

Hope you'll find it helping.

Wish you good luck in your investing.

@Ariq Sharif , welcome to the site and to the REI industry! To your first question, yes, there are certain parameters that you should use when creating your list. Equity base, median price, etc. Send me a private message and I'll forward you a breakdown. To your second question, join your local real estate investors association (REIA).. There you can network with people who can help make deals i.e. wholesales and cash buyers. Second, put together a solid direct mail campaign (long term and consistent).

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