Best property acquisition strategy for 2-3 properties a year
Rental Property Investor · Overland Park, KS · Member since 2019 · 19 posts · 8 votes
Hello BP Nation -
My business plan is currently built on a measured acquisition approach of purchasing only 2-3 properties a year (and planning to use BRRRR when possible). In the opinion of the more experienced than I, what's the best approach for deal location when I'm not looking to scale fast? Do I plan for 2-3 direct marketing campaigns a year to try and find those deals, or should I use wholesalers, bird dogs, auctions, MLS (or something I'm not even considering) since its such a small number? of targets
Thoughts?
In my experience I'd say stop planning and just get started. Dig in and start analyzing some deals. The best laid plans tend to unravel when the rubber hits the road.
Start with a source, learn the source and it's limitations, then when you've exhausted the stream of deals from that source, add in another one and repeat the process.
I'd start with the MLS, it's the most accessible.
@Geordy Rostad - Thanks for the swift kick in the backside! :)
Definitely need to get that first one. Good news for me is that I am in the process of getting started. Have an offmarket deal in process right now.
The question was prompted after I listened to one of the podcasts on the way home from work today about building a marketing machine so you can scale fast, and I wondered how someone has approached it when they didn't want to scale fast.
I like your approach about working one approach until it doesn't work.
Thanks again for giving it to me straight.
Karla
@Karla Kahmeyer The problem with MLS is that it has a saturated market. Everyone is trying to find the best deal there, so, competition is very high. Auctions require a lot of experience in order to find the best deals. If you can execute a well-planned direct mail campaign you will probably get the results you are looking for. You MUST be CONSISTENT in your efforts, for the best results. Therefore, in the end, whatever form of marketing you choose to do, remember to be consistent.
Good Luck!
We are currently doing 3 flips.
1st flip will be $60K profit (we are a bit in trouble with this one I have to admit)
2nd flip $65K (5 week rehab, we should be done with this one in 2 weeks)
3rd wil be $80K (5 week rehab, we will be starting this one next week)
Now you will say.. OMG how do you get these amazing leads.
Well, I get ALL leads, the good the bad, the so so.
This goes on week in week out day in day out.
I get such amazing deals because I get to cherry pick which house I will buy and which ones I won't. So that means all my deals are pretty much home run deals.
Do you realize how this adds up? Let's say I get 5 leads a day. If you get lazy one day and you slack, the next day 10 leads are in my inbox. Then by tomorrow I have 15 leads sitting there waiting for me. Do you know HOW ANNOYING it is to have to shift through all the leads and do ARV's on it, etc, etc, etc,... believe me this is not something I like doing. I LOVE SEO, not playing with leads. So I barely touch these leads and after a week, I have a bunch of leads and call messages waiting for me.
Now does it matter you only do 2 deals a year? Of course it doesn't. Why spent a fortune on DMM when you can have $80K profit deals for free continuously thrown into your inbox.
You do SEO like I did! Become a God of SEO and this will happen!
No buying and figuring out lists, no tracking of the leads, no skip tracing no headaches no NOTHING.
Just simply leads in your inbox, and the only headache you have is trying to keep up with way too many leads being thrown your way!
If you want to try just one flip just to tell your grand kids you have flipped a house in your live, sure do anything but SEO.
If you are planning on doing 1 flip, 2 flips, more flips consistently a year, yeah do SEO and eliminate the risk out of the equation to make money. Every flip you will tackle you now know there is a much better chance you will actually make money because you simply buy the houses right.
Again, anyone can talk a good talk, but here... I presented you with numbers, proof, results. There is no room for doubt or debate here. SEO is the way to go. Period!
And how hard is it really?
well I have a handbook with a step by step proven method how to rank #1.
I have tested these steps and my methods over and over again, not just with my site but other people's site as well.
Honestly,.. it is quite simple really. I just come up with new SEO strategies regularly, and I apply them to the websites I allow to rank #1, and just a matter of time they will be #1.
Hard work sure, but really simple.
Please don't ask me for this handbook. I need to be in control of who ranks and who doesn't (obviously).
All I am telling you is that if you know what you are doing when it comes to SEO ( and BELIEVE ME, all these "legitimate" SEO companies HAVE NO CLUE what they are doing), you can easily dominate the market and become FILTHY
rich.
Fine print, all these people I helped rank have been ranking for just a few weeks so their rank will fluctuate, but obviously as you can see.. they are up there!