How are you guys finding deals with such a lack of inventory?

[Tyler Wisner]

Hey everyone, I'm an OOS investor, I currently own 3 SFH's in the Indianapolis area, I am trying to start buying multi family at the moment, specifically a duplex or four plex. At the moment there seems to be minimal to no investor, and anything that is available just gets bids up like crazy, my question to all of you guys is, how are you sourcing any deals with this going on? Also is everyone else noticing the same issue? Any feedback would be great, thanks.

[Angel Gonzalez]

Seems like that is the general consensus for a few markets in New Jersey as well. Here are some suggestions:

1. Double down on your relationships with other investors, lenders, realtors, and more specifically wholesalers in your desired area. My personal goal is to network with a 4-5 new wholesalers every month and by doing this I am casting a wider net to receive a higher volume of deals to build on. This is more of a numbers game! By definition, higher number of deals in the pipeline will yield a higher chance of finding the right deal for you.

2. Be honest with your bandwidth. There are various methods to find new deals but my suggestion is to focus on 1-2 methods and do them well. For example, not everyone has the time to put together marketing campaigns, cold-call owners for hours a day, and work with several realtors. Leverage your team of realtors, wholesalers, etc. to source deals for you and while you focus on assessing and executing.

3. Last but certainly not least, make more offers. Similar to sourcing deals you need to make offers in a higher volume to win the deal. 98% of the time your deal will get out bid or rejected by seller (especially in today's markets), but you only need those 1-2 offer acceptances to get stuff done!

Best of luck of your search!

-a