How are you currently finding your deals?
Good morning BP,
How are you currently finding your deals?
Are you using an agent, wholesaler, Zillow or Propstream?
Have you found one outlet to be more successful than the other?
Most of the deals I have bought have been right off the MLS. If an agent sends me the deal, I'll have them represent me. If I find the deal myself (on Zillow or driving around) then I'll just call up the listing agent and have them "represent" me.
I've found when I call the listing agent directly I end up with a better deal. When the listing agent gets both sides of the commission they will usually offer the seller a commission discount, which then makes my offer more attractive than other buyers who come in with their own agent.
I do pretty much all on market deals. I like the off-market deals but for my clients I have a wholesaler I give them because he has a great flow of off-market deals. And for my own investing the properties I go after are all over the states and not concentrated in a specific market, so I don't have the time to start looking off-market nor would it be worth my resources.
Right now pushing SEO and will go to PPC at some point once I'm happy with my website and getting my landing pages dialed in.
I'm also doing direct mail, but that has had some major diminishing returns lately. I do about 500 letters/month.
Wholesalers as well, but for the most part their deals are priced too high for me.
It's tough right now, but there are still opportunities. For the most part, I don't bother with the MLS anymore.
Hi Katlynn! We use Zillow, Propstream, Realtor and other sites that has a lot of property listings. Also, we use REI groups to find off market properties. If you have more questions abut Flipping, hit me up! Let's Connect! :)
no deals in upstate NY.....anything close to a marginal deal is sold before its listed....anything listed.....usually overpriced and stays on the market for months
Deals can be found in many ways. The first thing you need to do is master the art of conversation. The best deals are often found by going to meetings, or talking to your friends and service providers. If you are looking for a real estate deal you should tell everyone you come in contact with that you buy houses in any condition. You would be surprised what you learn. We have relationships with wholesalers, agents and the girl who works at our local beer distributorship. Seriously, create a good card and hand them out and engage everyone you meet. Good luck and keep moving forward.
Quote from @Scott E.:
Most of the deals I have bought have been right off the MLS. If an agent sends me the deal, I'll have them represent me. If I find the deal myself (on Zillow or driving around) then I'll just call up the listing agent and have them "represent" me.
I've found when I call the listing agent directly I end up with a better deal. When the listing agent gets both sides of the commission they will usually offer the seller a commission discount, which then makes my offer more attractive than other buyers who come in with their own agent.
Oh absolutely, that is a great way to find them!
Quote from @Brett Deas:
I do pretty much all on market deals. I like the off-market deals but for my clients I have a wholesaler I give them because he has a great flow of off-market deals. And for my own investing the properties I go after are all over the states and not concentrated in a specific market, so I don't have the time to start looking off-market nor would it be worth my resources.
How has it been managing all of these properties in different locations?
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Quote from @Katlynn Teague:
Good morning BP,
How are you currently finding your deals?
Are you using an agent, wholesaler, Zillow or Propstream?
Have you found one outlet to be more successful than the other?
NEVER listed, NEVER a realtor, 80% wholesalers, ( let them do the hard work LOL ) other 20% from various sources. I get 20 a week sent to me. Locked up 25 in the last week or so, I already have them in contract with buyers. I can get as many as I want in my market,
All the best
@Katlynn Teague Redfin
Using a realtor and my own search on Zillow, which I send to my realtor if I find something worth considering. I'm buying out-of-state, closed recently on a SFH, move-in ready, negotiated quite a bit off the list price. I haven't done a renovation yet from far away. I may consider doing a flip or BRRRR from a distance now that I have trusted team in the Indianapolis area.
Lately all off market, but even that has been slow. I get many maybe 25 to 30 off market emails per day, but they are not that great of a discount. The market is more challenging now for me than any time in the past decade and one of the more challenging times in the last couple of decades.
My current holdings and activities keep my busy enough. I do not need to buy more. For me to purchase residential RE, by pro forma must show that it is going to far exceed expected long term passive options (and S&P has lifetime return near 10%. Good Syndicators in recent times have been returning ~20%). Not finding too many RE deals to purchase right now that my pro forma justify the effort/risk involved over more passive options.
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@Katlynn Teague
Cold calling
Quote from @Katlynn Teague:
Quote from @Brett Deas:
I do pretty much all on market deals. I like the off-market deals but for my clients I have a wholesaler I give them because he has a great flow of off-market deals. And for my own investing the properties I go after are all over the states and not concentrated in a specific market, so I don't have the time to start looking off-market nor would it be worth my resources.
How has it been managing all of these properties in different locations?
Took me a while to find a good manager for STR's, but after a while I found a guy and brought him on board and gave him pretty much free reign to set up the systems and processes we need to manage it all.
@Katlynn Teague
Zillow and I use the listing agents. But have bought 3 off market properties in the last year to go along with 3 in the last year I found on Zillow.
Quote from @Luka Milicevic:
Right now pushing SEO and will go to PPC at some point once I'm happy with my website and getting my landing pages dialed in.
I'm also doing direct mail, but that has had some major diminishing returns lately. I do about 500 letters/month.
Wholesalers as well, but for the most part their deals are priced too high for me.
It's tough right now, but there are still opportunities. For the most part, I don't bother with the MLS anymore.
If you do PPC, lead costs are down 15-20% year over year since the market shifted. But lead quality has also dropped as homeowners haven't caught up to their house prices being lower, while investors are buying lower accounting risk for future interest rate hikes. For any marketing, but especially PPC which is $$$, make sure to have a killer follow up system as a lot of the leads now may be converting in 3-6 months from now.
I like the MLS listings that have been on the market for a while. Other than that, just hitting the normal lists as well as keeping an eye out for opportunities when I am out and about.
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Real Estate Agent
- 9727656563
- http://taylordasch.kw.com
- [email protected]
All of the above but word of mouth with other investors and real estate pros is probably or best option. It's all about networking and being a good business person. People help us and we help them so our circle of investors/friends are our best source of deals.
Quote from @Scott E.:
Most of the deals I have bought have been right off the MLS. If an agent sends me the deal, I'll have them represent me. If I find the deal myself (on Zillow or driving around) then I'll just call up the listing agent and have them "represent" me.
I've found when I call the listing agent directly I end up with a better deal. When the listing agent gets both sides of the commission they will usually offer the seller a commission discount, which then makes my offer more attractive than other buyers who come in with their own agent.
Scott, I love to hear that! It is a great way of finding properties!
Quote from @Luka Milicevic:
Right now pushing SEO and will go to PPC at some point once I'm happy with my website and getting my landing pages dialed in.
I'm also doing direct mail, but that has had some major diminishing returns lately. I do about 500 letters/month.
Wholesalers as well, but for the most part their deals are priced too high for me.
It's tough right now, but there are still opportunities. For the most part, I don't bother with the MLS anymore.
Luka, I am unfamiliar with SEO and PPC. What is that?
Quote from @Carlton B.:
All of the above but word of mouth with other investors and real estate pros is probably or best option. It's all about networking and being a good business person. People help us and we help them so our circle of investors/friends are our best source of deals.
Carlton, absolutely! You never meet a bad connection!
Quote from @Taylor Dasch:
I like the MLS listings that have been on the market for a while. Other than that, just hitting the normal lists as well as keeping an eye out for opportunities when I am out and about.
Taylor, absolutely. Have you found some of the MLS listings to be daisy chained?
Quote from @John Morgan:
@Katlynn Teague
Zillow and I use the listing agents. But have bought 3 off market properties in the last year to go along with 3 in the last year I found on Zillow.
John, that is great to hear! You have gotten very lucky!
Quote from @Katlynn Teague:
Quote from @Taylor Dasch:
I like the MLS listings that have been on the market for a while. Other than that, just hitting the normal lists as well as keeping an eye out for opportunities when I am out and about.
Taylor, absolutely. Have you found some of the MLS listings to be daisy chained?
Yes but rarely thankfully, they typically cant move them if it is on the market in the ones I have seen.
-
Real Estate Agent
- 9727656563
- http://taylordasch.kw.com
- [email protected]
Quote from @Taylor Dasch:
Quote from @Katlynn Teague:
Quote from @Taylor Dasch:
I like the MLS listings that have been on the market for a while. Other than that, just hitting the normal lists as well as keeping an eye out for opportunities when I am out and about.
Taylor, absolutely. Have you found some of the MLS listings to be daisy chained?
Yes but rarely thankfully, they typically cant move them if it is on the market in the ones I have seen.
Great to know!