I purchased my first rental in Fayetteville, NC about five months ago and have since done six Real Estate transactions.
I find my deals through direct to seller marketing. If I'm not in a position to close on a deal I'll pass it on to other investors for an assignment fee (wholesale).
This allows me to find deals at a steep discount for my rental portfolio and build up some cash for future purchases.
I still have a lot to learn and was wondering who else is using this strategy to acquire rentals.
I can't say I'm "using" this strategy yet as I haven't done any deals, BUT this is the same strategy I'm attempting. I started driving for dollars 3 weeks ago and have sent quite a few mailers. I have investors lined up to take any good wholesale deals I bring to the table and I have a cash partner ready to take on our 1st rental property!
I like the concept of being the deal.finder so I'm never dependent on someone else for this part of the business and I can hand pick the best deals for myself.
But much like you, the wholesaling is just a means to an end. The real focus is buy and hold.
Congrats on getting your first unit!
@Robert Shortsleeves When you say "direct to seller marketing" what do you mean?
@Christopher Petrillo I send mail to potential sellers and ask if they want to sell.
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