Where are all the deals!~ A Haiku

[Wesley Sherow]

Where are all the deals
I've looked across the region
Please help me find them

Hey Bigger Pockets Family,

I'm a property manager in Albany, New York, and i'm checking on the community's investment journey. I recently got connected with a big investor who wants me to find deals & build their portfolio in upstate New York. I'm a numbers person, so basically i'm a nerd who adopted a wallet! With that said, finding deals right now is tough! They're far and few between. What's the most creative way that you all have been finding your purchases? 

If you're a numbers person like me, what criteria do you look for? I'm typically gunning for at least 9% Cash on Cash, with an IRR of 20-25% for my "good" investments. What are your criteria?

On a side note, i'm looking to network more now! If anyone is near Albany, NY or NYC - let's connect!

[Stephanie Jacobson]

Thanks so much, @Bob Reinhard! And well done all around on haikus.

@Wesley Sherow whew, you picked a heck of a time to start looking for deals! The market is ridiculous, prices are high, and things are selling in days. I have a rehab property that I've been marketing for over a year, and we got four offers in the last two weeks. Many of my long-time investor clients are holding off on buying for now.

That being said, there are still places you might be able to find something. @Mark Liscia is a fantastic contact in Binghamton; he's a successful investor himself, and hears about good off-market deals. I've got wholesalers who are doing really well right now, too, getting more responses on mailers than usual. I've got one guy who has a 3 bedroom that needs work in a nice neighborhood just outside of Binghamton for $37,000 (ARV $94k), and one in Johnson City that's a three unit for $80k.

See if you can connect with some wholesalers in the areas you want to search, and build relationships with some agents in those markets too.