Struggling With Deal Number Two

Rental Property Investor · Milwaukee, WI · Member since 2019 · 42 posts · 14 votes

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

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Jacob Sampson
Investor · Topeka, KS · Member since 2015 · 1k+ posts · 1k+ votes
6y
You are starting in an up market. Legitimate deals are hard to find. Just keep grinding it out. You'll find another one.
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Brett Kash
Flipper/Rehabber · Milwaukee, WI · Member since 2016 · 153 posts · 84 votes
6y
@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.
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Rebecca KnoxBusiness Member
Specialist · Milwaukee, WI · Member since 2014 · 1k+ posts · 1k+ votes
6y
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.

https://www.biggerpockets.com/forums/712/topics/437139-why-so-hard-to-find-wholesalers-in-las-vegas?fbclid=IwAR1nqrJatpRdIIrv6cITP6_a9pjD2IsrlgG3FFIDIKdsnAtR6KDVok9CcFU

Captain Save-A-Home LLC
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Marcus Auerbach
Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
6y
.... 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.
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