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Updated almost 4 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Torrance, CA
1,208
Votes |
724
Posts

I’m ready to be a REAL investor, but don’t know where to start.

Account Closed
  • Rental Property Investor
  • Torrance, CA
Posted

I need deal flow. Right now I have two out of state single family homes that are working out great. I have good agents, and property management. I have money for down payments, and excellent credit and DTI ratio. What I don't have is deals. My realtor is actively looking for property number three, but you all know how it is right now in this market.

The solution is to stop wasting my time on the MLS, and go exclusively off market. The more I learn about REI the more it becomes apparent that the real deals are all behind the scenes. Anything that's for sale on the MLS, or even from a wholesaler, is a bone that's been picked clean. Then it gets passed on to another sucker from California that will overpay. That's me.

If I don't start sourcing my own deals, I'll always get the scraps. I want to go straight to the source, and negotiate directly with motivated sellers, and cut out the middlemen. Pay cash and BRRRR or wholesale it out.

My question is how do I even start to approach this from out of state? Direct mail? Email? Where do I find leads? What do you say on the phone when you get a seller? Should I get my license? Are there any goods books that teach how to do this?

When I try to research this online I get a lot of get rich quick, buy my course kind of BS. I want to know how to do this for real. I’m ready to be a professional investor, but I need a push in the right direction. 

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