The More I Learn About Acquisitions, the More I Realize It’s Not Just About Finding Deals

The more I learn about real estate acquisitions, the more I realize there’s a lot more to it than simply finding a property at the right price.

I’ve been paying attention to what experienced acquisition managers and wholesalers talk about, and a few principles seem to come up again and again:

1. Solve the seller’s problem.

A seller may not always care about getting the absolute highest price.

Sometimes they care more about speed, certainty, avoiding repairs, dealing with a difficult property, or simply having someone who can make the process easier.

2. Follow up.

A “no” today doesn’t necessarily mean “no” forever.

Circumstances change, and consistent follow-up can make a huge difference. I’m realizing that being organized and staying in touch is a skill by itself.

3. Protect your reputation.

A deal isn’t worth burning a relationship over.

Being honest about what you can do, communicating clearly, and doing what you say you’ll do seems to matter just as much as the numbers.

4. Build relationships before you need them.

The best opportunities probably don’t always come from the person you just met.

They can come from an agent, wholesaler, investor, contractor, or acquisition professional who remembers you months later because you were helpful and easy to work with.

5. Keep improving.

There always seems to be another part of acquisitions to learn—underwriting, negotiation, seller conversations, due diligence, market knowledge, or simply getting better at recognizing a good opportunity.

I’m still very much learning, but these are some of the lessons I keep seeing repeated by people with much more experience than me.

For the experienced acquisition managers and wholesalers here:

If you could go back to when you were just starting, what is the ONE lesson you wish you had understood earlier?

I’d genuinely like to learn from it.:::