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Updated about 10 years ago on . Most recent reply

User Stats

838
Posts
212
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John Cohen
  • Rental Property Investor
  • Mineola, NY
212
Votes |
838
Posts

Make money by tracking deals, pipeline, and follow up

John Cohen
  • Rental Property Investor
  • Mineola, NY
Posted

I wanted to share with the BiggerPocket community 3 tips that could change your life. I recently signed contracts on a 138 unit property in North Carolina. This was a property I originally saw and added it to my pipeline. By the time I get to call the broker the property was under contract, I was dossapointed because it was an interesting deal. I didn't let this stop me, I immediately entered it in my pipeline and started tracking the deal on a weekly basis by setting follow up reminders in my calendar. Every week, like clockwork, I would call the broker and touch base to see what stage the deal was at. Week after week, I got the same answer, "deal is in contract." Over the next couple months I built a good relationship with the broker. Out of the blue on a Friday afternoon the broker called me and said I know your working on another deal, but would you still be interested in the property. I immediately said send me the updated financials and rent roll and give me the weekend. 

The point was, don't ever give up on a deal, track everything until the deal closes, and follow up!!!

This deal is in contract and I will be syndicating the deal. Just wanted to give everyone some tips and some ideas on how to better the investment businesses.

  • John Cohen
  • Most Popular Reply

    User Stats

    160
    Posts
    54
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    Jay Johnson
    • Pelham, NC
    54
    Votes |
    160
    Posts
    Jay Johnson
    • Pelham, NC
    Replied

    Congratulations! 

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