Learning...a good house is hard to buy.
Realizing this is a pretty competitive market. I get notices on homes that hit the market from my realtor and we look and bid and boom...gone. I am hitting 0-50k market...offering cash next day. Any pointers would be much appreciated.
Thanks!
Most Popular Reply
I hear ya! The market is hot all over!
Idea: Go off market.
Find a local, older investor. Buy him (or her) lunch. Ask questions and genuinely show a willingness to learn. Don't try to get a deal done. Examples:
- When did you get started?
- Are you buying or selling?
- What constitutes a good deal for you and why?
- What neighborhoods do you like?
- Etc.
Just take notes. Then ask who is another investor they know and if they'd be willing to make an introduction. Ask this new investor to lunch. Rinse and repeat.
You will find more deals this way than you know what to do with. We've been at it for a couple years now. We get a pretty steady flow of opportunities. And, we got to learn from many smart, experienced investors.
I wish you the best!
PS: We go to lunch with young investors too, but usually only when they invite us or when we want to invest in them. Older investors know what they are doing, are often looking to exit old deals, and don't see younger guys as competition.