Finding deals in this competitive market

[Jack Hritsko]

Am I starting real estate in the most competitive market possible? To give a back story, I discovered real estate at about this time last year and have been obsessed ever since. I finally have the funds available to purchase a duplex in my market. I have a rockstar agent in my market who is investor friendly and automatically sends me listing that meet my Crystal Clear Criteria (shoutout multifamily millionaire). Anyways last night I got a notification of a new listing. This was a duplex, in my market, in my price range. I called my agent within 5 minutes of the listing and she had gotten a hold of the listing agent who is her friend, right after we talked. Then she called me back within 5 minutes to notify me the property had already sold at full asking price. Not to mention this isn’t the first time this has happened either. A few weeks prior I had a similar experience with a triplex that sold the same day it was listed.

Here’s where I need the BP communities help. How can I manage to get my first deal in this competitive market? Would it be a good idea to start sending direct mail to multifamily owners in my market asking them if they have any headache properties they are looking to get rid of? My goal is to have my first deal by the end of 2021 and I’m beginning to get frustrated. What are my options moving forward pursuing possible off-market deals?