How do you find off market deals

[Jack Hamm]

Good Morning BP,

I am starting my investing journey I have partnered with someone for mentorship and he is also my lender so I am a Cash Buyer. I am in a really good spot right now, but would love to know how others have found properties for low enough prices. I put a post on the Classifieds looking for wholesalers in my area as 99.9% of properties on the MLS are priced to high and the ones that are affordable have intense competition. How would you recommend I connect with wholesalers in my area to find off market properties? Thank you.

[Evan Polaski]

@Jack Hamm, how do you know the wholesaler isn't overpricing the deal too?

Of the over 20 properties I have bought (not a ton, but not nothing) Only 4 were bought off market.  3 through wholesalers.  One was a former neighbor telling my wife about the house across the street from them.

It is always good to cast as wide a net as possible, but I will give you a warning that many wholesalers, in my opinion, are also overpricing their properties. They will under budget the rehab and overestimate the ARV in order to justify a price that is too high. Not to say you won't run your own numbers, but just saying wholesalers cannot be relied on.

How to connect?  I would call every "handyman special" sign you see hanging on telephone polls in your market.  Talk to them about the house they have, but also offer to meet for coffee and let them know you are actively looking and ask how you can get on their list.

Attend meetups and REIA meetings. If there aren't any, start one. At the meetups, talk to other investors and ask them if they would be willing to share any good wholesalers they know.