How to Find Deals in Today's Market

Finding deals in the current market is hard! But not impossible. A few years ago it was as simple as just clicking around on the MLS for a short period of time and *viola* you had a cashflowing deal that did not need much more than a little paint and carpet. That is not the case today. You need to take consistent, persistent and calculated action with the right information to "make" a deal. Personally I have been investing since 2016 and I have not yet found a deal. I have found opportunities that I have been able to rehab, turn around management and make good deals. There is always some sort of operational or physical defect with a property that is preventing it from performing at the highest level that it can. Don't trust the brokers possible rents but also don't assume the rents they are getting are the highest you can get.

I have a very simple formula I use when looking at a deal. 

• First thing I do is determine what the rents CAN be. 
• Second step I take is get an estimate of what needs to be done to get these rents and how much this will cost. I know most of this by doing it so often but you can generally get an estimate from your contractor by sending pictures and describing what you want to do.
• Third step is to fully analyze the deal with this information and figure out what you can pay for it! Just because we're in a hot market don't be afraid to make lower offers.

Keep it simple. Of course there is a lot more to buying a deal than this but these simple steps help you get the ball rolling!