Any creative ways to acquire deals?

Question

When low in cash, and going through a property drought, what are some strategies that can be used?

Account Closed · Answer

@Chris Piper Where do you get the information that ~55,000 properties were sold in the past 3 months in Tampa? I am in the area and would like to keep up with info like this. Thanks!

Stephen Nicholson · Answer

I just tried driving for dollars for the first time and after only 3 or 4 hours driving I had found several vacant properties. Following the research etc I have 3 promising leads that returned my calls. I hope to make a deal on at least 1, i feel that 2 are very strong leads, the other feels like a tire kicker.

Even just the 1 deal is good for just a few hours driving around (in my opinion)

Don Cuffy · Answer

Facebook....join groups like virtual yard sales or city groups and post a pic of your bandit sign or business card. State you'll give a $500-1000 referral. Craigslist.....email fsbo or frbo ads, i've even sent a few messages up here asking if they have any properites they're looking to get rid of.

Steve Vaughan · Answer

@Kathy Stewart those are good strategies for investors that own things.  Wholesaler's don't.  I like the bandit sign idea or index cards in laundry mat's and grocery stores.  All this work to get a deal only to have to do it again. And again, and again...

Adrian Smude · Answer

seller financing, option, JV.... You should go to Larry's meet up on Monday nights and/or Thursday morning exchange at Denny's, they are very creative.

Kathy Stewart · Answer

If you own other property with equity, you may be able to cross-collateralize them for part of the down payment, have the seller take a note for another part, and acquire a 75%-80% loan.

Chris Piper · Answer

Are you saying that there are very few properties available in Tampa Bay? If so, in just Hillsborough County(Tampa, FL), there were 55,844 cash transactions in the past 3 months, so I wouldn't call that a shortage. If you're saying that you aren't picking up enough properties for some reason, you can't go wrong with bandit signs. They will get your phone ringing like clockwork.