Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
I am constantly being asked how I find my deals. I both buy & sell, mostly using creative finance.
So, I thought I would break things down into digestible parts.
Any newbie knows about real estate agents, paying full price and borrowing from banks,
but I want to give you something that is “off market” no bank needed. You just need a little work and a solid income. If you want to expand your reach, here we go. . .
One of the quickest ways to get into the real estate investing business is to VISIT GARAGE SALES.
People tend to clean out the garage and basement when they are planning on moving. In fact for a nominal amount, they may also let you leave a pile of “We Buy Houses” flyers on the table or on a post.
Neighbors that come to the garage sale will see the sign and you might even want to hang around if it is a busy place. With that method, you have them coming to you rather than having to knock on doors.
It works, I have two properties in Phoenix
I’m looking for happy new owners for.
Ask for the other 99 ways to find deals, if you are interested in creative financing.
I focus on CA WA TX AZ CO NV ID OR Phoenix Austin San Antonio Dallas California, Texas, Arizona, Washington, Colorado, Nevada, Idaho
& Oregon but it works in Georgia, Florida, New York and Illinois, in fact everywhere. J
Creative indeed! My question would be on the value vs. the time spent. You say you have two properties based on this strategy, but how many garage sales did you attend and how much time spent on those? In addition, what type of practice is generally yours (i.e. fix/fip, rehab, long term hold, etc.)? Love the outside of the box thinking!
Creative indeed! My question would be on the value vs. the time spent. You say you have two properties based on this strategy, but how many garage sales did you attend and how much time spent on those? In addition, what type of practice is generally yours (i.e. fix/fip, rehab, long term hold, etc.)? Love the outside of the box thinking!
. Since I am always on the hunt for a bargain, I shop "simultaneously". I use many methods simultaneously, not just one, so I would have to think how to compute time spent if it had been the only source. I may go weeks without seeing a garage sale, but I'm using other methods (mailers, probates, pre-foreclosures, "tired" landlords, and on and on)
At this point, I'm providing properties at a discount for people who want to invest but don't want to do the work, & in various cities. Long ago, I started by focusing on pre-foreclosures (now newbies need to know the new laws though), rehabbing, buying & selling on creative finance (you can see at my profile). Those have done well for me, so I just twiddle around at this point. It's become a "game" of sorts, what's the best deal I can find. :-)