searching for properties..stick to plan?

searching for properties..stick to plan?

Rehabber · Minneapolis, MN · Member since 2011 · 47 posts · 2 votes

newbie here so please be patient with me :) my business partner and i have been working with a real estate agent who's cdpe cetified and have found some good properties for us. we have been looking for about a month and a half and haven't gotten a property to work on. we have found some potentials and have put in a couple offers at asking price. with those offers, we have gotten beaten out due to owner occupants or other investors who bid a lot higher than asking price. we are looking to make about 15k-20k per property and sticking to that because anything under 15k isn't worth it to us, we would rather wait for a better potential which is possible in my market since we put in 2 offers that would have made at least 15k. we like to have guidelines for purchasing our properties and stick to a game plan.

with that being said, do we need to adjust or re-strategize our game plan with this dry/competitive market right now? are there other avenues besides a real estate agent where we can find properties?

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Orlando, FL · Member since 2009 · 2k+ posts · 282 votes
14y

Tony, I don't know how many hours per day you're devoting to this, but I don't think it's abnormal to not have found a deal in six weeks if you're new at this and still learning.

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  • Rehabber · Minneapolis, MN · Member since 2011 · 47 posts · 2 votes
    14y

    Thank You everyone for your inputs. I learned a great deal from everyone and will continue to learn as time goes on. You guys answered a lot of questions and doubts I had, as well as putting things in perspective for me. In the meantime, i'll keep plugging away and sticking with my guns and hopefully things will work out for the best. Again, I appreciate all the responses.

  • Wholesaler · Salt Lake City, UT · Member since 2009 · 1k+ posts · 401 votes
    14y

    Well Tony G hope all is going well, I'm a little late to the parade but as I was reading this thread I kept thinking the problem was finding the deals and you were severly limiting your hunt, then Bryan A finally broached the subject.

    I hope you took his post to heart and you and your partner each pick a prospect source to focus on in addition to what your agent is coming up with. You will then have 3 methods of finding a deal in play and the 4th method will fall in your lap as you do the other 3 I know you will think of it in a aha moment. A hunting we will go, a hunting we go...

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