Off-Market Inventory: What Is Your Source Preference?

Question

I am curious to hear everyone's thoughts on how you prefer to receive off-market listings from wholesalers/investment agents:

1. Do you prefer to work with an individual who simply starts sending you properties just by you dropping your email address? There is no phone call, no criteria questions, etc.

2. Do you prefer working with an individual who sets up a call with you to learn about your buying criteria, and explain their specific process to make sure it's a good fit, before sending you properties?

Why do you choose #1 or #2? Let's talk about it!

Jeremy Kitchen · Answer

I try to be open to both avenues.  I do enjoy my criteria being met, but even on those in my market, it turns into almost a bidding war where the wholesalers take the best offer.  I do like looking at other off market properties from them as well.  Maybe seeing something out of my comfort zone will work, or I can always let my colleagues know and get them something as well.

Molli Miller · Answer

I'm in the same boat as you, Frank, and couldn't agree more! I understand that the upfront time spent going through a lengthy conversation or meeting may seem moot to an investor who just wants to see the inventory, but I think it prevents headache and misunderstandings in the long run. It's what sets us apart from the others!

Frank Zhang · Answer

#2 I'm an agent who work with investors. It's important to know the criteria that makes a property the right investment for you. It helps us market to the right people and property to get you the best deal. Usually, the lists that goes out to everyone are the ones that the connected investors are not interested in.

Mackenzie Grate · Answer

#2. It's not just about the deals for me, it's about if the wholesaler is competent and trustworthy or not. I oftentimes disregard the cold emails or texts because I know they blast them out to everyone and I have no idea how solidly vetted the deal is or not. Build the relationship first before sending. I think you will find a higher response rate from quality buyers that way as well.

Good luck!

Molli Miller · Answer

That's a great perspective, Jeremy. Still taking a look at inventory that may not instantly strike you as your preference can certainly help break you out of your comfort zone into new opportunities! I see you're in Idaho- I'm not familiar with the market there but I could imagine it is growing. Best of luck investing!

Molli Miller · Answer

I agree, Mackenzie. I think there's so much value in developing a strong relationship built on trust with the person you're getting inventory from. Thanks for your insight!

Off-Market Inventory: What Is Your Source Preference?

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