Lender · Ann Arbor, MI · Member since 2020 · 19 posts · 8 votes
Hi new FLIPPERS!
Are you having trouble finding good investment properties? Given the decreased inventory, what is your plan to maintain or increase your growth?
Have you ever tried buying from distressed sellers? Not distressed properties. Distressed sellers.
You need to find people who WANT to sell. Who NEED to sell. If you could help them by buying their house, treating them fairly, and providing the cash they need, doesn't that sound like a win-win deal?
This means looking through public records for probate cases and divorce cases. It could mean talking to folks who lost their job or need to pay medical or car bills. It means speaking to people whose homes are in pre-foreclosure, foreclosure, or are behind on property taxes. You could even offer a lease option for when they're back on their feet... get creative and generous!
The key is that inventory is slim and you need to WORK for good investments. They won't come to you. Go find those WIN-WINs!
And please share how you're maintaining deal flow with other new investors in the comments below! Thank you!
I have a lot of success by letting everyone I interact with know that I'm a real estate investor and what types of properties I buy. I also get numerous leads by paying a 1,000 finders fee for any unlisted property someone tells me about that I buy.
I have a lot of success by letting everyone I interact with know that I'm a real estate investor and what types of properties I buy. I also get numerous leads by paying a 1,000 finders fee for any unlisted property someone tells me about that I buy.
I love it! Yeah, we're playing with our referral system, both for properties and loans we originate. But being clear on your buy box is crucial! Thank you, Shawn!
Are you having trouble finding good investment properties? Given the decreased inventory, what is your plan to maintain or increase your growth?
Have you ever tried buying from distressed sellers? Not distressed properties. Distressed sellers.
You need to find people who WANT to sell. Who NEED to sell. If you could help them by buying their house, treating them fairly, and providing the cash they need, doesn't that sound like a win-win deal?
This means looking through public records for probate cases and divorce cases. It could mean talking to folks who lost their job or need to pay medical or car bills. It means speaking to people whose homes are in pre-foreclosure, foreclosure, or are behind on property taxes. You could even offer a lease option for when they're back on their feet... get creative and generous!
The key is that inventory is slim and you need to WORK for good investments. They won't come to you. Go find those WIN-WINs!
And please share how you're maintaining deal flow with other new investors in the comments below! Thank you!
Are you having trouble finding good investment properties? Given the decreased inventory, what is your plan to maintain or increase your growth?
Have you ever tried buying from distressed sellers? Not distressed properties. Distressed sellers.
You need to find people who WANT to sell. Who NEED to sell. If you could help them by buying their house, treating them fairly, and providing the cash they need, doesn't that sound like a win-win deal?
This means looking through public records for probate cases and divorce cases. It could mean talking to folks who lost their job or need to pay medical or car bills. It means speaking to people whose homes are in pre-foreclosure, foreclosure, or are behind on property taxes. You could even offer a lease option for when they're back on their feet... get creative and generous!
The key is that inventory is slim and you need to WORK for good investments. They won't come to you. Go find those WIN-WINs!
And please share how you're maintaining deal flow with other new investors in the comments below! Thank you!
Are you having trouble finding good investment properties? Given the decreased inventory, what is your plan to maintain or increase your growth?
Have you ever tried buying from distressed sellers? Not distressed properties. Distressed sellers.
You need to find people who WANT to sell. Who NEED to sell. If you could help them by buying their house, treating them fairly, and providing the cash they need, doesn't that sound like a win-win deal?
This means looking through public records for probate cases and divorce cases. It could mean talking to folks who lost their job or need to pay medical or car bills. It means speaking to people whose homes are in pre-foreclosure, foreclosure, or are behind on property taxes. You could even offer a lease option for when they're back on their feet... get creative and generous!
The key is that inventory is slim and you need to WORK for good investments. They won't come to you. Go find those WIN-WINs!
And please share how you're maintaining deal flow with other new investors in the comments below! Thank you!
Really good advice/insight!
Thank you, Mohamed! Anything to add?
Nope I'm just getting started in this space and what you wrote gave me some insight!
@Yoav Gilad, this sounds very sketchy and somewhat manipulative, but is there a site or resource for finding property owners with overdue medical bills or expenses? It's certainly a creative way to source motivated property owners, but it can also lead to manipulative tactics/practices from others by utilizing their unfortunate situation, leaving a sour feeling in my gut.
@Michael Dumler, thanks for your vote of confidence, lol. I agree that it could lead to people taking advantage of others, but just because you can take advantage does not mean that you must. Treat others as you would like to be treated, right?
Everything is sketchy or manipulative if you're not transparent. The key is being upfront and trying to find a win-win solution. And no, it's not easy. But if someone needs money to deal with an immediate, major problem, then you're providing, if nothing else, an additional option that they can choose or refuse.
Are you having trouble finding good investment properties? Given the decreased inventory, what is your plan to maintain or increase your growth?
Have you ever tried buying from distressed sellers? Not distressed properties. Distressed sellers.
You need to find people who WANT to sell. Who NEED to sell. If you could help them by buying their house, treating them fairly, and providing the cash they need, doesn't that sound like a win-win deal?
This means looking through public records for probate cases and divorce cases. It could mean talking to folks who lost their job or need to pay medical or car bills. It means speaking to people whose homes are in pre-foreclosure, foreclosure, or are behind on property taxes. You could even offer a lease option for when they're back on their feet... get creative and generous!
The key is that inventory is slim and you need to WORK for good investments. They won't come to you. Go find those WIN-WINs!
And please share how you're maintaining deal flow with other new investors in the comments below! Thank you!
I give new agents or those desiring to get into real estate lists to call and then buy the deals they find. it works well.
@Yoav Gilad, circling back to my initial questions, with that in mind, do you know of any sites or resources where you can source individuals who have outstanding medical bills or expenses?
@Yoav Gilad, circling back to my initial questions, with that in mind, do you know of any sites or resources where you can source individuals who have outstanding medical bills or expenses?
Good question! I do not know of any such sites; however, my clients, when talking to a potential seller, listened to their pain points and tried to understand and empathize with their core 'why?' If health issues were mentioned, they tried conveying that selling was preferable to simply losing any and all equity if the property was lost to the bank or county. Additionally, a sale would not affect their credit and having cash would give them flexibility and a stronger tool than trapped equity.