Make money by tracking deals, pipeline, and follow up

[John Cohen]

I wanted to share with the BiggerPocket community 3 tips that could change your life. I recently signed contracts on a 138 unit property in North Carolina. This was a property I originally saw and added it to my pipeline. By the time I get to call the broker the property was under contract, I was dossapointed because it was an interesting deal. I didn't let this stop me, I immediately entered it in my pipeline and started tracking the deal on a weekly basis by setting follow up reminders in my calendar. Every week, like clockwork, I would call the broker and touch base to see what stage the deal was at. Week after week, I got the same answer, "deal is in contract." Over the next couple months I built a good relationship with the broker. Out of the blue on a Friday afternoon the broker called me and said I know your working on another deal, but would you still be interested in the property. I immediately said send me the updated financials and rent roll and give me the weekend. 

The point was, don't ever give up on a deal, track everything until the deal closes, and follow up!!!

This deal is in contract and I will be syndicating the deal. Just wanted to give everyone some tips and some ideas on how to better the investment businesses.