BRRRR deal finding strategy

Member since 2021 · 5 posts · 2 votes

I am based in Odessa, Fl (north Tampa) and looking for advice on how people find off market distressed deals. I have ran the numbers on every property for sale on Zillow and just don’t see how any investor is making money. Really just seeking some advice on how people go about finding motivated sellers off market.

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James JonesPro Member

Investor · Collierville, TN 38017 · Member since 2017 · 788 posts · 588 votes

Dominic, you are not missing a trick on Zillow — listed deals are where BRRRR math goes to die. At 236 properties in Memphis, my deal flow comes mostly from wholesalers and repeat sellers, not the MLS. The bottleneck is deal flow, not analysis. Give every wholesaler your exact buy box and a fast yes or no: I buy single-family under $100K, 3BR+ preferred, and the rent has to clear the 1% rule — my Section 8 3BR+ rents run $1,395-$1,950 against ARVs of $180K-$265K. Underwrite in minutes, never retrade on small stuff, and close when you say you will. That reputation is why sellers call me first.

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James JonesPro Member
Investor · Collierville, TN 38017 · Member since 2017 · 788 posts · 588 votes
1d
Dominic, you are not missing a trick on Zillow — listed deals are where BRRRR math goes to die. At 236 properties in Memphis, my deal flow comes mostly from wholesalers and repeat sellers, not the MLS. The bottleneck is deal flow, not analysis. Give every wholesaler your exact buy box and a fast yes or no: I buy single-family under $100K, 3BR+ preferred, and the rent has to clear the 1% rule — my Section 8 3BR+ rents run $1,395-$1,950 against ARVs of $180K-$265K. Underwrite in minutes, never retrade on small stuff, and close when you say you will. That reputation is why sellers call me first.
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Ametria Chaney
Realtor · Memphis, Shelby County · Member since 2026 · 43 posts · 8 votes
1d
You're running into the exact wall every new investor hits: Zillow is the most shopped inventory on earth, so the numbers rarely work there. Off-market deals come from relationships and consistency, not apps. Drive for dollars and write down every distressed-looking house, then skip-trace the owners. Talk to wholesalers, but also to probate attorneys, divorce attorneys, and tired landlords at your local REIA meetup. Direct mail still works if you commit to following up — most sellers say yes on the 4th or 5th touch, not the first. And be patient: your first deal usually comes from the tenth conversation, not the first. Build the network before you need the deal, and the deals start finding you.
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Aaron Zucker
Realtor · New York, NY · Member since 2019 · 42 posts · 13 votes
1d
Dominic, one channel people skip too fast: the MLS itself — just not the fresh listings everyone else ran numbers on day one.
Sort the other way. Look for 60-90+ days on market, repeated price cuts, listings that expired or were withdrawn and came back, tenant-occupied properties that are hard to show, estate / probate sales with dated photos and no staging, and houses where the listing remarks basically apologize for the condition. Those sellers have already been told by the market that their price is wrong. That's a different conversation than a new listing.
And make the offer at YOUR number anyway. Running the numbers and stopping is where most people quit. If list is $260k and your BRRRR math needs $195k, a clean offer at $195k with a short inspection period and real proof of funds costs you nothing. You'll get a lot of no's — and occasionally a tired seller says yes, or counters close enough. Listing agents also remember the investor who actually submits; you get the call when their next tired listing shows up.
Tampa-specific warning on the BRRRR math: underwrite insurance before you fall in love with a deal. In Florida, roof age and insurance quotes kill more refis than purchase price does. Get an actual insurance quote during inspection, and work backwards from the refinance — if 70-75% of a realistic (not optimistic) ARV won't retire your purchase + rehab + holding costs, it's not a BRRRR, it's a flip you accidentally kept. Use real rent from comparable leased properties, not the listing agent's projected rent.
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Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
1d
@Dominic Stevens
hi Dominic. I'm pleased to be the first non-AI generated response to your question. I hope this helps. off market you have two choices - scare up your own leads (by marketing yourself) or buying from wholesalers (where they've generated the leads already.) are you going to meetups and zealously networking? if not, i recommend you do so.
hope this helps
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Nathan BrooksBusiness Member
Lender · Kansas City, MO · Member since 2012 · 403 posts · 188 votes
1d
What's up man! The best advice I can say early on is to underwrite every deal that looks to fit in your buy box. If you've seen 4 deals, and they didn't work ... no biggie. We used to look at 10-20-30 houses to buy ONE! And we had bought hundreds of houses prior.
Don't get frustrated. Just dial in your buy box (the specifics of the property you are looking for), get wild making great relationships with wholesalers in your area, get your lending dialed in so you can roll when its time, and just get awesome at finding good deals. The absolute best deals i've done are the one's I DIDNT do ... and the most memorable ones are the ones I bought, and then wished we hadn't.
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Hossein Sharifi
Investor · Member since 2023 · 100 posts · 48 votes
1d
You're not missing anything. Retail listings mostly don't work for BRRRR, because the seller already kept the equity you need for the refi. A quick test: take a realistic ARV, multiply by 75%, then subtract rehab and closing costs. That's the most you can pay and still pull your cash back out. On a $300K ARV with $50K of work, that's about $170K, and very little on Zillow in north Tampa is listed anywhere near that.
The deals that hit that number tend to come from a few places: estates and probate, tired landlords with long-held rentals, code violation lists, and listings past 90 days on market, where a low offer isn't an insult anymore. I'd pick one and work it steadily for six months rather than trying all of them at once.
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Harrison RosenbaumPro Member
Investor · Sneads Ferry, NC · Member since 2022 · 4 posts · 0 votes
20h
To answer your question, wholesalers are a good way to get a flow of off market leads. I’d recommend starting on a couple Facebook groups for your market. If you just search things like Odessa off market deals or Odessa wholesalers, there’s probably already groups. There’s also pay per lead options like motivatedsellers.com. I’ve used them before and they’re good but be prepared to pay for 15 to 20 leads for everyone that you close (I don’t know if that’s their official numbers, but that’s about what it was for me granted, I’m not the best closer).
I would also offer every deal that you analyze has a number where it does work for you so even the ones on the market don’t be afraid to throw an offer where it works for you and leave it open even if they don’t accept initially.
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Jorge VazquezBusiness Member
Real Estate Broker · Tampa, FL · Member since 2017 · 1k+ posts · 694 votes
17h
Dominic, you're right! Finding a BRRRR deal that works on Zillow is tough, especially in today's market.
Two of the easiest ways to start are driving for dollars and building relationships with property management companies like ours that manage 400+ investor properties. Property managers are constantly dealing with investors who may be ready to sell, tired landlords, properties needing repairs, and owners looking to liquidate. I've been investing in Tampa Bay for over 20 years, and I've learned that the best deals often come from relationships, not listings. Start networking with local property managers, wholesalers, and other investors. You'll be surprised how many opportunities never make it to Zillow!
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Matthew MorrowBusiness Member
Investor · PA - NY - NJ · Member since 2019 · 617 posts · 209 votes
5h
@Dominic Stevens most of my early BRRRR deals didn't come from Zillow or the MLS. They came straight from sellers. The group that's worked best for us is absentee owners who've held 15+ years. A lot of them are tired landlords ready to move on, and they'd rather sell quietly than list. Pull them from county records, reach out consistently, and be patient, it's a long game. When you do get a conversation, be ready to move fast on your numbers. Happy to share more about what's worked for us.
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