Where the Best Deals Are Found

Contrary to the belief of most, the best real estate deals don’t come from banks and desperate sellers. Don’t get me wrong they are out there and I have bought them but I’m telling you don’t 100% focus on the deep distress stuff and hold out for bank REO’s and the like. Besides funds and institutions with a lot more money than you and I scoop these up on a regular basis in bulk – because they can write a check for them tomorrow.

Fortunately, we can depend on:

1. Brokers
2. Motivated owners
3. Managers

Dip your toes in the water and create campaigns for each of the above. Specifically:

1. Develop a CRM that has all of the CRE brokers in your market. Each quarter reaches out to them via phone or email and keep your name in front of them. My best deals over the years have come from brokers I have deep I have formed relationships with brokers initially calling off one of their listings but quickly moved the conversation to other deals they may know of. Those relationships take time. Take action and drive your market and start calling off signs. The conversation may go like this: Hey Joe Broker, I saw your sign in front of XYZ Building in Any-town, USA. Can you tell me more about that deal? They go on about that opportunity…Well you know Joe Broker to save your time and mine that doesn’t sound like an opportunity I would be interested in. Let me tell you the types of deals I do like (blah, blah, blah) Do you have any opportunities that would fit that? If you don’t necessarily have it listed I would be more than happy to pay your fee…you see unlike most investors out there I gauge the success of my investing business by the amount of real estate commissions I’m responsible for…your doing deals I’m doing deals – right. That breaks down the barrier of your just another investor and immediately gives you credibility.
2. My favorite way to reach owners directly is by using direct mail. If you have been on any of my webinars you’ve seen details of the marketing campaigns, I use that get results. From that point, I sue a combination of online and offline methods to communicate with motivated sellers. They may not be ready to sell today or in 6 months but by using a long-term nurture campaign you stay in front of them for when they are ready to discuss.
3. Property managers know of potential deals. They know which owners are growing frustrated with property ownership. Or owners that have their eyes on another piece of real estate and need to unload the one they have. Property managers can be great sources of referrals. Be careful though because many property managers are also brokers – you want to find the ones that focus on property management and you can develop a nice referral network back and forth.

Over the last 15 years, this is where I have found my 30 deals done as a principal. Why? Because all of the above folks can become complacent and lose focus. When owners or managers take their eye off the ball bad things tend to happen with properties.

For you and me this spells opportunity.

You may be asking how you can take advantage of this.

It’s simple by doing what 90% of other real estate entrepreneurs don’t do. Create systems to attract deals, fund deals, and close and manage deals. Rinse and repeat. It’s not “easy” but a rather simplistic approach. I’ve spent many years and tens of thousands of dollars creating these systems – don’t you owe it to yourself to at least check it out? 

Interested in discussing more...DIRECT MESSAGE me.