How do I find the best deals?

[Joseph Fenner]

My goal is to learn how to FIND the best deals particularly distressed apartment buildings that need repairs. 

What sources and websites do you guys use?

Where can I find the best deals?

What are your systems when finding deals step by step?

What are the most important factors that make a good deal? 

How can I become the best at FINDING the BEST deals?

[Johnny Lynum]

Hey Joseph! 

Great questions – and I love that you're fired up about finding distressed apartment deals! Here’s the quick-and-dirty lowdown to get you started:

1️⃣ Where to Look:

• LoopNet & Crexi: Good for commercial deals, though the best ones go fast.
• MLS (Multiple Listing Service): Access through a realtor for hidden gems.
• Auction Sites: Think Auction.com or HUD homes for distressed properties.
• Direct Mail Campaigns: Target landlords with older properties (especially those with code violations).

2️⃣ Systems for Finding Deals (Step-by-Step):

1. Set Your Criteria: Market, budget, unit count, rehab level.
2. Build a Deal Funnel: Use LoopNet, Crexi, wholesalers, auctions, and brokers.
3. Analyze Quickly: Use a property calculator to see if it cash flows.
4. Direct Outreach: Contact sellers or property managers directly.
5. Get Your Network Tight: Property managers, realtors, contractors—they’ll drop the best leads.

3️⃣ What Makes a Good Deal:

• Cash Flow Positive from Day 1.
• Below Market Value (usually needs rehab).
• Upside Potential: Think rent increases, better management, or refinancing options.

4️⃣ How to Become the Better/Best:

• Study the Market Like a Hawk. Know what’s normal so you can spot what’s NOT.
• Talk to Brokers/Connections Weekly. Stay on top of new leads.
• Practice Deal Analysis Daily. You'll get faster and better every time!
• Get Comfortable with Rejections: The more "no’s" you hear, the closer you get to a “yes.”

Hope this helps. 
This is a hustle – but if you stick with it, the deals WILL come. Keep pushing, learning, and networking. You got this! 💪