Tactics to Find Deals

[Logan Splinter]

If you lost everything tomorrow, what would be your “go to” for finding your next deal as an investor starting over/ trying to find their first deal again?

What is the best tactic, strategy, process you use for finding your deals? 

If you were to use all the knowledge you’ve gained to answer this one question what would you say? 

[Mike Roy]

@Logan Splinter - Most new investors are out looking for the next deal, but only a few find them.  This is because most of the best deals aren't found, they're made.  From a seller's perspective, most are interested in selling their properties to the highest bidder, so if you're focused on finding that one seller who is willing to give it away, it could be a long, frustrating wait indeed.

So how do you create a deal?  You do it by learning to recognize opportunities to add value that most others don't see.  Seasoned investors will look for opportunities to increase rents, decrease expenses, add bedrooms or units, or perhaps even change the use.  Seasoned investors know that they can buy a 2 cap with the right upside and turn it into a 10.

So if I lost everything tomorrow, I'd do what I've always done: analyze a bunch properties and look for the ones with hidden potential.