Where do you find your deals ?

Question

Hey all, first BP post here ! Looking to get started and wanted to get everyone's thoughts on where you generally find your deals. RE agents, directly with wholesalers, or just searching the MLS and runnings your numbers ?

This is would be for buy and hold.

Thanks !

This is would be for buy and hold.

Thanks !

Alex Zhao · Answer

I'm wondering if anyone uses anything specific, like an app or website, to research potential deals. In the past, I've done it the traditional way (talking to anyone and everyone and networking) and I am interested in branching out.

I feel like talking to people gets you nowhere these days.

Ahmad D. · Answer

Thank you everyone ! All valuable insights. For me it seems like being patient is key, in addition to finding opportunities where others may not see them.

In my learning I’m also finding that having a specific criteria or focusing on a specific market helps become more decisive

Joe Villeneuve · Answer

I don't find them, I invent them, from properties that on the surface are not deals.  If you know how money works (different strategies), then you can adjust the path the money takes to make a non-deal a deal...and there's no competition.

Account Closed · Answer

@Ahmad D.

I have been diligently looking for deals too and cant find any. I had great luck when I was not rushing...interacting with people in a genuine way, being transparent and listening...then being decisive. Perhaps I need to go back to what worked.

Enrique Huerta · Answer

@Ahmad D.

All of the above!!!

Brokers, Wholesalers, Listing Portals, underwriting everything that comes across my desk. Occasionally picking up the phone and calling owners directly. Networking and asking people if they know anyone looking to see a property.

The most important thing is doing it every day.

Jonathan Rivera · Answer

I’m going to agree with @Joe Villeneuve. The deal will rarely jump up in the air and say here I am! I know you’re eager to get started. I was very eager as well, but you want a solid understanding of what strategies and financial options you have in order to choose the ones that make sense for you.

A quick example is that I rent an apartment from my parents property so that they have a good solid tenant. I also house hack by having a coworker room with me. My portion of the rent is already very cheap. Getting a duplex and house hacking may actually increase how much I pay monthly although I will get other benefits. Some may say the other benefits are worth it, but me leaving would leave a coworker with all the rent and my parents without a steady tenant. Besides, I like my apartment, it’s proximity to work and parking. That being said investing in rentals through a BRRRR makes much more sense for me and my lifestyle.

After you get an overall education, that’s when I would focus and hone in on what fits your lifestyle. Hope that explanation helps. Best of luck @Ahmad D.!

Where do you find your deals ?

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