You have the money for a new property or you qualify for the loan and are ready to buy some investment real estate!..
You keep looking...and looking... and you never seem to find great properties to invest in.
I guess if it was easy, everyone would do it.
The fact is, it is amazingly hard to find great real estate deals.
That's OK, because I’m going to tell you exactly how to find great Real Estate Deals and I'll show you how to do it online, with your own computer, and without spending any money.
But first... I'm going to explain to you why you haven't found any good investment properties yet.
You don't even realize it, but the things you do that you think will make you successful are actually the things holding you back. You may not have done all of these, but I bet you are doing at least one.
You've been studying and learning for 3 months, 6 months, or even a year or longer.
A degree may be important, but it is worthless if you don’t get a job in that field. Knowing a lot about investing and real estate is very important, but if you don’t actually put deals together, that knowledge is worthless.
The fact is, it can take many years to become a true expert in anything and they are usually writing books or teaching people. You don't need to be an expert to START, you just need to be good enough to not lose money.
Start by learning what's on this site and a few particular books. Avoid "analysis paralysis" and jump in once you have a moderate level of knowledge.
Some days you look at multis, other days you look at flips, and then some days you are learning about wholesaling.
People make money wholesaling, flipping, renting, commercial, residential, large unit, single family, and more. The thing is, they don’t make money in all of them.
By dividing your attention you are holding yourself back. Pick ONE and go with it.
Honestly, you do this by having a solid business plan and following it.
You need to earn money to pay the bills, feed the family, and have a decent lifestyle. Your extra time goes toward real estate.
Real estate is your path toward wealth so don’t treat it like a side-hustle. Even if you are working another job full time, real estate investing should be on your mind all the time.
Every road you drive on, you are looking at the properties. Every time you browse the web, it should be about the economy, real estate, jobs, or anything related.
Break at work? Read about real estate.
Every person you meet you need to tell them you are an investor.
You are an investor, so think and act like one.
It’s really simple. There are two steps to get started successfully as a real estate investor.
OK, here is the part where you roll your mouse over the corner and click X because my advice is stupid.
Just hear me out. Think a little deeper about what I’m saying.
You look online, go look at some places. Unfortunately, everyone can look online to see what’s listed on MLS.
A house for sale is not the same as finding a great real estate investment.
So really, you’ve found houses for sale; you haven’t found great real estate.
...and unfortunately, most houses in most markets are simply not great investments.
You can find great real estate deals online but it’s hard and you need to know how to look and what to look for. I’ll go over that. For now, I'm going to take a step back.
If you take every method that exists to find deals, you can categorize it into one of two methods - finding deals online, or finding deals in person. Obviously though, each can be broken into several sub-categories.
If all the other ways work, and work well, then why use the online listings to find real estate deals? Well, searching the internet is easy, fast, and pretty much free. So, you can waste your time and money finding deals using other methods, or you can find deals the way I've learned to find them.
Clearly some deal finding methods can be a combination of two others. For example, networking may lead someone to look you up online for more information. MLS lists FSBO and word of mouth might lead to knocking on doors. Anyway, here is a basic explanation of each method:
Online database where the vast majority of single family and small multi-family buildings are listed. If a property is for sale, it is probably on here.
Pros: Has a lot of properties; is easily searchable.
Cons: Everyone else can easily search it too.
Online database for commercial properties and large residential multis. Sometimes a property will be listed on both MLS and Loopnet if the agent has access to both.
Pros: Has a lot of properties; is easily searchable; most investors list on here so people are more rational.
Cons: Everyone else can easily search it too; sellers probably know what their property is really worth.
There are FSBO website that will allow a seller to list their property on the MLS for a small fee, maybe just a few hundred dollars, compared to the thousands someone will spend on an agent.
Pros: Direct access to the seller without a professional filtering what you say.
Cons: Who lists a property FSBO? Very frugal people, or people who don’t understand what market value means.
Some people will create their own website in the hopes that motivate sellers will find that website and contact them.
Pros: Direct access to hot leads; People contact YOU.
Cons: Monthly expenses; requires constant updates; Tough to rank high in search engines.
Uncle John knows Suzy down the street who says her best friend just moved to a nursing home and the kids are looking to sell fast.
Pros: Direct access to sellers before a deal hits the market.
Cons: Hard to build up a network; may waste a lot of time chasing uninterested buyers.
You wouldn’t knock on everyone's door obviously. You drive through neighborhoods and find distressed looking properties, then engage the owners to see if you can work a deal.
Some people also call it Driving-for-Dollars.
Pros: Learn the neighborhoods very well by being on the ground; may find deals before others can.
Cons: Very time intensive.
Letters written on yellow legal paper stating your interest to buy a property. You can do it in combination with direct mail or you can use yellow stick notes and do it in combination with knocking-on-door
Pros: Authentic appeal directly to the owner.
Cons: Time intensive; may require a decent amount of money to send direct mail.
When someone is looking to sell, they may think about someone they know who may be interested first. This could save them time and money rather than hire a real estate agent. By networking, you will tap into a huge network of people who may be looking to sell in the future.
Pros: Side benefits of networking can't be understated.
Cons: Time intensive; requires continuous contact for the length of the relationship.
Now that you know each of the main methods, you may already be thinking about ways to adapt these to your strategy. Great! But the problem is, nobody can effectively do ALL of these methods. You will realistically need to target one or a few of them when starting in real estate.
If you try to direct mail, build a website, search the internet, and network constantly, you may find yourself out of time and money pretty quickly. When starting out, I highly recommend starting with the free or cheapest methods to get established. Once you are established you can branch out into the more expensive methods.
See, I take a different approach. You are trying to find ONE deal... not dozens.
Advertising just serves to magnify the effect of these other methods. Advertising online will help motivated sellers to find your website. Using direct-mail or bandit-signs may direct people to call you directly and set up a meeting.
Advertising helps you increase your reach. Within your scope, targeted advertising can help you reach even more people.
I’m not always looking for a deal, though I wish I had enough money to always be in the market to buy. When I am searching though, for me personally, it takes about 1 day to find a great deal. Sometimes it takes 2 or 3 days if I start looking on a weekend or holiday. Granted, not every potential deal is a great deal, and I need to sift through them all to find the real gems but I can do all that in 1-2 days. So, if you have been searching for weeks, months, or longer, you clearly are doing it wrong.
I have spent years developing my methods and I have spent a lot of money in trial and error. Don't waste your time and money, just learn from me. I have written it all down into this PDF file and you can get it by email.
Like I mentioned above, I will show you how to find great deals with online listings. I will also throw in the following as a bonus:
I would just put it here, but I don’t want this information to scraped off my site and end up all over the web. It's free anyhow and I don't spam or sell your info, so why not?
If you haven't found any promising properties yet, that means you are looking at things all wrong. That's OK. If you knew where to look then you wouldn't be reading this page. I've been there before - searching the web to find the answer, just to be left disappointed and half the time with more questions than when I started.
I will show you exactly how to find the best deals online with the most potential in my PDF.
When I got started real estate investing, I had nothing but debt and a little bit of savings. I did it, you can do it too. The whole purpose of this website is to share my knowledge with other people because I believe it's the true source of wealth.
Pop your email address in here and I'll send it to you. I swear I won't sell your info or send you all kinds of spam.
In my next article, I talk about analyzing the deals. It's really important to understand how to properly and accurately analyze deals once you find them!