One Investor completely dominating my market!!

[Jay Gata]

There is one investor in my market who is completely dominating it...he buys every reo on MLS, almost every property on auction.com and hubzu in our area. He also builds new construction and owns 80% of the city multifamily units. It seems he has all the reo agents in his pocket and all the deals get filtered through him... I tried to place a couple calls into him as he is an agent himself but did not return. How do I ask for a mentorship or do I just hammer out direct mail and other forms of marketing to bypass the MLS....He just bout the last 3 HUD properties I put offers in on... one of the homes I offered more than he closed for??!!! ugh frustrating!!!

[Account Closed]

It will be near impossible to get this person to mentor you - he sees you as competition!

How I circumvent a person like that is to use a different approach in the area, a different lead generation program - direct mail is too slow - maybe try some of these ideas ---

• Expired listings - find the owners - an expired listing is a failure of an agent to sell the property -I am sure the sellers are still motivated to sell - go find them - if you can't locate them  in a short period of time search - don't waste your time - call the agent and ask "Are you still accepting offers on that expired listing - the agent knows where the seller is and how to contact them. Make your offer a good percentage below the last listed price.
• I use a lead generating program in Maryland, Jacksonville Florida and Dallas Texas - my partners (friends from Bigger Pockets) run the leads that I receive from the radio or TV advertising - using my branded commercials (all leads come to my 800 number, I qualify the lead and call my partner to help get comps, look at the property and delivery the contract of sale that I forward to him or her). We than flip the contract for a short term cash profit and move on to the next deal. One of the best leads you can get is when a seller calls you directly - this eliminates all the local competition. This system for me, for over 15 years has created some really great commercial and residential leads and cash flow.
• Attend real estate auctions - when there is a no sale or the Trustee buys the property back - this is a good lead - go to the trustee after the sale and make a cash offer - make sure you are ready to do business - have your contracts (use a skinny contract offer) ready and in hand with a deposit - present it to the Trustee - make sure you put a dead line time and date in the offer. "It is understood that if this offer is not accepted by September 15, 2016 before 12:59 pm it shall be void and no longer valid."

Need help - give a call - wishing all good luck ---- Charlie