Successful Real Estate Investor?

Question

I would like to invest in another property within the next 4 months. I'd love to know more about how some of you have found success as real estate investors.

What has been the most successful method you have used to find deals ( direct mail, driving for dollars, etc. )?  How did you find your first deal and how long did it take you to close?

Nathan Gesner · Answer

You need to stop looking for a magic formula. Identify what you want and then go find it. Experiment with different methods of seeking until you find one (or more) that work.

Omar Khan · Answer

@Eunique Gill A lot of strategies also differ by market. For instance, the inventory of 2-4 unit MF housing is very low (or non-existent) in Dallas (at least, in neighborhoods I want). That's not the case in the East Coast where there is inventory but the prices are high.

Hence, you have to narrow down what type of property you want to purchase, budget, market and how much you are willing to spend (marketing, etc) to acquire this property. It is harder to set this up but once you develop a criteria you waste less time chasing deals that don't make sense.

Eunique Gill · Answer

@Greg Scott  Thank you for your input!!

Eunique Gill · Answer

@Nathan G. I agree, there is no magic formula. I currently own one rental property that I found from working with a realtor. I am currently working with a realtor and using direct mail to find my second property.  I was just interested in knowing how others have reached their goals.

Greg Scott · Answer

The greatest success comes from consistency of purpose and focus, and not necessarily any particular methodology.

Everything you have listed can work, if you make it work.

Successful Real Estate Investor?

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