How are you guys finding deals?

Question

The hardest part of real estate for me is finding and locking in deals. I've managed to get one property but it took me months of trying and being rejected. The market is so competitive. Its near impossible to find deals on market and if there are deals, you're competing with so many people who can pay in cash over asking. I try to look for deals offmarket like Facebook, Craigslist,etc. Its still difficult because people are in these fb groups and they are competing. I tried finding wholesalers but they rarely follow up with me. How are you guys consistently finding deals? It is demoralizing to put work and analyzing deals just to be rejected in the end. Any tips on how to find deals consistently would be great. Thanks.

Jeffrey McKee · Answer

I completely understand the challenges you're facing in today's competitive market. Finding deals can indeed be tough amidst such intense competition.

One strategy that has proven effective is establishing relationships with local real estate agents or networking within real estate investment groups. They often have access to off-market deals and can provide valuable insights.

Another approach could be exploring different avenues for off-market deals, such as building relationships with property owners directly or considering distressed property lists.

I'd be more than happy to discuss further strategies and potential options that might work for your specific situation. Feel free to connect anytime, and let's navigate through this together.

Erik Estrada · Answer

Start with your team. There's a lot of lenders that frequently have scenarios where investors are sideways on their investment, and you can go right in and save the deal.

There's also a lot of Realtor's that work with clients that don't want to list on the MLS or even have a for sale sign on their back yard.

Or there's just getting down and dirty, smiling and dialing.

Tim Ryan · Answer

Patience is one way - true.  But working the right market is the best way. Sounds to me you are not in the right market. Are you willing (or are you) investing out of your state?  Probably need to.

Ben Scott · Answer

I'd start with your internal network and began telling folks you're looking to purchase distressed property or willing to take on a mortgage, etc. Then if someone in your network comes across a deal, hopefully they will think of you.

Caleb Brown · Answer

Takes patience. You can have a few go to agents for MLS deals or deals they know, be active in local groups, join as many wholesaler emails as possible and if you have time or funds find deals off market by targeting sellers. Overall it's a tight market and it's not going to be quick. The low interest rates made everyone jump in so it was easier before then. Now it's much different.

Nicholas L. · Answer

@Alex Ng

I'm doing the same thing you are and trying to be patient.

To find more deals, you have to do more volume.