Finding off market deals

8 Replies

What do you mean where? What are you doing to market to off-market sellers right now? What's your target seller and property in the area? What are you looking to do - BRRRR, flip, multi-hold? Anyone would have to understand what you are describing as dry. I have a team member with 30 doors in Scranton and his group has been finding options there consistently.

It can depend some on what you are looking for and what strategy you are doing. There is opportunity in every market both off market and on market. I would start by finding a local REIA in your area and networking with other on how they are finding deals. You may even find one there through your networking.

Be careful.

I keep seeing this over and over with investors.

Of market deals are great, but it is just a subset of what you are TRULY after.  It is MOTIVATED sellers/deals you need to target and focus on. Once that criteria is met only THEN "off market comes into play.

A FSBO is off market. But I am willing to bet more than 70% FSBO are NOT motivated. (The whole point of a FSBO is to sell it yourself so you don't have to pay commissions, so they want more money, that is the opposite of a motivated seller.)

You need to understand the mindset of a motivated seller and then position yourself as the bridge between their current situation and their desired situation.

Many many many here know me as the master of lead generation... BUT even those that acknowledge this, don't understand why I am so good at it. Most think it is about "SEO" and ranking your website #1. That is not it.. AT ALL. Ranking #1 is childsplay. I can do that with my eyes closed. It is getting your forms filled is the chapllenge.

And in order to do this you need to dive deep into the phsycology of things.

Yes talk is cheap, so let me show you.

All these leads, are free, completely motivated, that want to sell to not just anyone, no, they SPECIFICALLY want to sell to ME, I don;t lift a finger, don't pay a cent, all on autopilot reliable.

Do you really think you will get this "just" by ranking #1? Absolutely not. My website is the #1 copied website nationwide, yet people have no idea how it works and they probably won't get these results. It is the "behind the scenes" phycology behind the text, pictures, layout intention what makes this successful, NOT ranking #1.

So now, to answer your question now that you have the right knowledge, you asked the REIGHT Question.

Correct... it is not "HOW" are you getting deals, it is indeed "WHERE".

It is not foreclosures, it is not job losses, nor relocations, nor divorces nor tax liens, nor absentee owners or any of the common BS everyone regurgitates. Instead use your OWN logic and data and you will soon see I am actually right (if my numbers and reliable predictable repeatable results didn't already make this obvious.

Motivated sellers don't exhibit those situations, as 90+% of my organic (meaning REAL, actually wanting to sell) leads do not come from those categories. My organic leads simply come from people that don't want to list and are willing to accept a below market offer for that hassle free convenience!

There are deals everywhere. EVERYWHERE. No it is not dried up where you are.

The reason why you feel there i nothing there is because the way you are trying to find those deals is simply wrong (se emy rant above). The ONLY .. yes I said ONLY way to find motivated seller off-market deals is by having a $1 ranking website that is credible.

Here is logical proof that deals are everywhere and anywhere. If you have people in your area that own a house, and they are not financially stable, and/or are houses on the MLS in your area, or wanting to buy a new house, are upsizing, downsizing, THERE ARE PEOPLE THAT ARE MOTIVATED TO SELL. Period.

You need to create a credible website, ranking #1, and magic happens!

Do realize that this time of year the leads DO slow down a bit. That is normal!

I run a very successful 5 point strategy:

1) Network the old fashioned way, meet real estate owners in your area by attending business networking events

2) Social Media: Put out good real estate content while mentioning you buy properties

3) Write letters: Make them targeted and include information about yourself and why they should sell to you

4) Brokers: Work closely with brokers so they bring you the good stuff before it hits the market

5) Property Management or other services:  Manage properties for others or offer owners other valuable services, when it is time to sell they will ask you to buy first.

Giving a round of applause to @Jerryll Noorden for this one "

"A FSBO is off market. But I am willing to bet more than 70% FSBO are NOT motivated. (The whole point of a FSBO is to sell it yourself so you don't have to pay commissions, so they want more money, that is the opposite of a motivated seller.)"

Off-Market Properties don't always mean "deals" and are often the opposite. A lot of times, the seller is over-pricing it. For instance, many have met with an agent, and didn't like the market value that they gave, and figured they will give it a go solo. Additionally, they aren't selling it solo and doing the extra "work" to give you a deal, they are putting the money they would have paid back into their pocket and still including it in the list price. Notice that lot's of FSBOs sit on sites like Zillow 10x longer than the publicly listed home next door. Also, you may be likely dealing with someone who either isn't versed in RE, OR is more versed than yourself, which opens you up to slews of problems either way. The property is generally sold with no disclosures to fall back on, and maybe they don't want it "listed" due to those sorts of issues that will become public due to the NAR and PAR disclosure laws.

What are you looking to buy? Grow your network organically and those people should contact you if they know of someone who'd consider selling what you're seeking or if they have a listing coming up that they would offer to you pre-market. I find my investors "deals" every single day in 15 different ways, and my buyers generally don't pay me a commission either. It's all about having a strong foothold in the community, or working with someone who does. If you're just trying to wholesale... I will keep my opinion on that to myself. 

Originally posted by @Kate Daye :

Giving a round of applause to @Jerryll Noorden for this one "

"A FSBO is off market. But I am willing to bet more than 70% FSBO are NOT motivated. (The whole point of a FSBO is to sell it yourself so you don't have to pay commissions, so they want more money, that is the opposite of a motivated seller.)"

Off-Market Properties don't always mean "deals" and are often the opposite. A lot of times, the seller is over-pricing it. For instance, many have met with an agent, and didn't like the market value that they gave, and figured they will give it a go solo. Additionally, they aren't selling it solo and doing the extra "work" to give you a deal, they are putting the money they would have paid back into their pocket and still including it in the list price. Notice that lot's of FSBOs sit on sites like Zillow 10x longer than the publicly listed home next door. Also, you may be likely dealing with someone who either isn't versed in RE, OR is more versed than yourself, which opens you up to slews of problems either way. The property is generally sold with no disclosures to fall back on, and maybe they don't want it "listed" due to those sorts of issues that will become public due to the NAR and PAR disclosure laws.

What are you looking to buy? Grow your network organically and those people should contact you if they know of someone who'd consider selling what you're seeking or if they have a listing coming up that they would offer to you pre-market. I find my investors "deals" every single day in 15 different ways, and my buyers generally don't pay me a commission either. It's all about having a strong foothold in the community, or working with someone who does. If you're just trying to wholesale... I will keep my opinion on that to myself. 

 You are awesome!!