Good Afternoon BP,
This is my first post... I have found the BP community to be both informative and engaging, so I decided to join in on the fun. I am a cash buyer currently in the market for properties in any condition located in and around Houston, TX - and am looking to make new business connections and perhaps receive some helpful guidance.
1) I am interested in connecting with anyone in the community that sources the ever coveted "great deals" (bird dogs / wholesalers) - any suggestions on the best way to meet these people?
2) I am also curious if anyone has had any consistent success using any local 'email lists' or 'wholesale websites'. (I am aware that in most cases, the properties that hit these lists/sites are passed on by other investors)
3) My business partner and I have had success at auctions, but would love to hear any additional suggestions for sourcing great value.
I spend a fair bit of coin on coffee and other brewed beverages. Honestly it is the best way to find a deal. Spend some time on BP, participate and reach out and go visit with others that are doing deals. They will tell you about the meet ups they like to attend.
I haven't been very consistent in my own marketing efforts - something I intend to correct with time - but I also find the best way is to just get my name out there and keep meeting up for coffee. I met some really class people here locally, just from gabbing with them right here on the forums.
I have many wholesaler clients that use myself and my title company for closings and legal work. They are very active and move a lot of property, happy to introduce you to them.
I second what @Mark Sewell stated! Get out there and network. In today's markets you have to either make a deal yourself either by going direct to seller or working with someone in your network you've built a relationship with. You aren't going to find an obvious "deal" on the MLS or on an email blast to 999 other investors.
@Ethan G. Thank you very much for offering to make those introductions. I would certainly like to take you up on that, please let me know the best way to proceed.
Driving for dollars is the best way to find deals in an area you
want. I say that in that most deals that go online via any list are
going to be purchased by some investor for top dollar- As it should be.
But, when you go directly to the source you get rid of all the middle
grabbers and get to be in more control. Now I have done mailers (10k
send 3x over 3 months to the same addresses) and got decent results. But
it was a lot of wasted time and energy on people who wanted to sell me
deals I didn't want to buy. You still have to be kind, or they will
trash your reputation online. So, that brings me back to driving for
dollars. Its not a big net method, its a fishing pole with the bait to
grab the prey you are looking for.
Anyway- I find 90% of my deals via driving around or someone I know (friend/family) telling me about a property they saw or someone they know "bout to sell that". Networking is important, but I spend 99% of my time networking with non-investors in the markets I want to do business. I dont' see much gain in hanging out with people looking to buy the exact thing I am looking to buy. Although, its good to know what your competition is up to and to get an idea of what "investors" are doing in the current market. You'd be amazed how many people your barber will send your way over any local wholeseller. (again, nothing against wholesellers but I just prefer to do business with people who let me be the expert and are just looking to be fair for all parties i.e. 65% of real ARV minus real repair cost.)
@Jeph R. Agreed, thanks for sharing. Do you typically give friends/family any type of finders fee commission?
@Bryan Charles , I do something. Sometimes its cash, sometimes its other stuff. i.e. a friend sent me a deal and I sent someone over to paint the outside of their house for them. (HOA was bugging them to get it done.)
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