TONS OF TIME, 150K IN CASH, COMMITTED INVESTORS BUT NO DEALS
1st solo deal went great, I net 70k in equity on a duplex after the rehab, been looking for a good deal for a month and a half now. Been to 8 showings, analyzed over 30 properties, scrubbing the MLS, direct mail marketing and.... no deals..... I FOUND MY WEAKNESS! This is a huge obstacle that is holding me back from continuing progress in my business. Any tips for overcoming this difficult obstacle in my business so that I can take down this next deal? Or ways to find a partner that loves doing this in their business?
Investor from Milwaukee
You are starting in an up market. Legitimate deals are hard to find. Just keep grinding it out. You'll find another one.
@Robert Damato I'll agree with Jacob a bit. My advice would be to keep doing what you're doing and grind away but also focus on networking to find deals. Get on the wholesaler lists, go to the REIA and other REI meetup groups and get connecting with investors. Tell everyone and their brother precisely what you're looking for so your the first person anyone thinks of when they have a property that meets your criteria.
What neighborhoods are you looking in? Were the 30 properties you analyzed off MLS or brought to you by an agent?
I agree with Brett--connect with as many people marketing for deals such as wholesalers and other full-time investors and then be the buyer that is remembered. I stumbled across this thread the other day and I think the original poster hits it spot on as far as being a buyer that is remembered or coveted.
.... and you may have to adjust your expectation. Milwaukee is an appreciating market. Median sales price on single families went up 8% over the last 12 months.