How to have deals brought to me??

Question

I spend a lot of time searching for homes...MLS, Auctions, Foreclosures, Short Sales...etc...

Any ideas on how I can have good deals brought to me?  Or any other avenues of finding homes?

Thanks!!

Ronnie Boyd · Answer

Jessica I found mine at my local REI. I know you have not had any success there much.

I also like what Dev said above. I have done several wholesale deals this past year. In my marketing I have cherry-picked a nice rental in that process. I will pull out another rental or fix & flip next.

Learning how to market has allowed me to buy at almost .50 on the dollar.. Big help to me!

Dev Horn · Answer

I may have some stones thrown at me for saying this, because i actually do wholesale most of the opportunities I find right now (in my personal market area), but...

...I think the best route is to do the marketing so the home sellers come directly to you, not so much the wholesalers.  Sometimes wholesalers take too much of the deal and don't leave enough meat on the bone for the actual rehabber or buy & hold investor.  If you do 50 deals a year and pay even a low $2000 per deal, that's $100,000 of profit you lose by going thru wholesalers.

But if marketing and negortiating with homeowners is not your gig, then wholesalers provide a valuable service.  And yes, you can find them by calling from We Buy Houses bandit signs, Google advertising, Craigslist ads, etc.

Brandon Lindsay · Answer

Jessica - do have a relationship with a good realtor in your area?  If you tell the realtor your criteria (desired area, # of Bedrooms, etc.), he/she should be able to set up automatic email notifications.  Once something comes on the MLS that meets your criteria, you will be sent an email of the listing.  I did this when I first got started a few years ago.  It made searching for houses on the MLS much more efficient.

Jessica Russell · Answer

Hey Ronnie, I have had a REALLY hard time finding hard money and private investors in this area...any advice?

Ronnie Boyd · Answer

Jessica, maybe also try networking with hard money / private money folks. Even though you buy cash these folks know of deals that are going on. Maybe something can be worked out where it benefits you both?

Good luck

Jessica Russell · Answer

Yes Joe, I'm a cash buyer.

Thanks Stephanie, good advice, I'll start spreading the word a little more.

Stephanie Dupuis · Answer

Jessica - I'm running into the same issue. I'm a buy/holder. I've been trying as many things as I can dream up (mailings, CL ads, MLS, etc. I'm not doing auctions...yet).

I have had good success, however, with telling anyone who will listen that I am looking to buy properties. I tell literally anyone who will listen. I started doing this about three months ago and none of these have turned into deals yet, but they've been decent properties from motivated sellers (two were short sales, the others I just couldn't get the numbers to work - they were too nice of properties and I couldn't get the sellers to take that much of a discount and I can't blame them.).

Account Closed · Answer

Jessica,

Call a few realtors and butter up to them and see what they can do for you and what you can do for them. Are you a cash buyer?

Joe Gore

Jessica Russell · Answer

Hey Tommy, thanks for the reply.  I have gone to a couple REIA meetings...not much luck.  I'll try the "We buy houses"...route!!  Thanks!!!

Tommy Desmond · Answer

If you're driving around your area and you see bandit signs on the side of the road ("We buy houses cash!"), try calling the numbers. Many times, those people are wholesalers and if you tell them what you want, they will do the legwork for you.

Wholesalers also show up at REIA meetings. Be careful though, from what I've seen, many wholesalers are new to the game and they might not necessarily know what a real deal is themselves.