Where are your deals coming from?

Question

Hey guys,

I'm trying to expand my horizons and wanted to know where you guys are getting your deals from? Courthouse auction? Mailers? Bandit signs? Door knocking? I have a pretty strong foundation of money behind me, but can't find enough deals... Any advice would be appreciated - thanks guys!

Don Konipol · Answer

My best source remains brokers who I have an established relationship with and who have earned commissions with me previously. I am always looking to work with new intermediaries, but only about 1 in 20 are worth working with.  Most will merely reforward deals from other sources hoping for a piece of the commission.

I also have successfully found deals through attorneys with clients that need to sell property.  I have found it much easier to be represented by my attorney in these situations and have the property owner represented by his attorney.  Just allow the attorneys to rack up some hours in lieu of a broker's commission and everyone (almost) will be satisfied.

Will Barnard · Answer

I get most of my deals via REO's. They come from my relationships with top REO brokers/agents and asset managers.
These are the best deals running right now (at least in my area) but require all cash, proof of cash, and proof of ability.

Steve Babiak · Answer

Similar discussion (but a bit different) here:
http://www.biggerpockets.com/forums/67/topics/60540-where-are-you-buying-your-properties-

Account Closed · Answer

REOs,  short sales (if agents know what they are doing)  FSBO and auctions

Anson Young · Answer

MLS, REO, HUD, REO auctions.

Jon Klaus · Answer

HUD, MLS, REOs, and referrals.

Will Barnard · Answer

Don expanded on my answer and is exactly what I do and how I feel about the best deals.
Great post Don.

James Vermillion · Answer

My business partner is an agent so that we have access to the MLS.  We check it every day and conduct weekly meetings to discuss the properties that meet our initial screen.  We pick our top prospects, crunch the numbers, and make offers.  So far this has been working well for us.  We have tried other methods but have been less successful including master commissioner sales and online auctions.

Shelly Swanzy · Answer

Current property -- craigslist,  2 properties that we just put under contract ---- MLS

Good luck with your endeavors

Where are your deals coming from?

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