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How to Find Deals

How to Find Deals

First, understand that there is no one way to find a deal. We are not limited to one way to think, one area, or one demographic and this is because opportunity in real estate is everywhere.

Marketing to cash buyers can be a plus. Having a network of people in the industry can be a benefit. But what if you are brand new? See the list below to get started in your deal search or even just to refresh your thinking on how to find deals outside of what you may already be doing.

  1. Craigslist
  2. Realtor.com
  3. MLS
  4. Auctions
  5. For sale by owner or for rent by owner signs
  6. Facebook
  7. Tax Assessor’s & Pubic Records Websites
  8. Bandit Signs
  9. Networking Events
  10. Google Adwords & Searches

In any event, what you want to do is understand what a deal is. You want to be able to communicate effectively so you can explain what you do, what you’re looking for, how you can help someone out of their property and explain the mutual benefit of doing business with you.

If you go to some of the networking events or auctions, be sure to introduce yourself properly, as the introduction may get your foot in the door for future opportunities, too. 

In any case, you want to make sure you are familiar with the property, the market you’re working in, and the information regarding the deal at hand. The relationships you build while finding deals in any of the ways above can end poorly or last a lifetime. The question you’ll want to answer is how well do you know what you’re pursuing … and how effectively are you getting the information across to make yourself a desirable person to invest with.

Once you communicate with the individuals, start a CRM with the information you get. You’ll want to store email addresses and phone numbers so you can market to these investors in the future. If you don’t already have a script on how to communicate with buyers, sellers, or lenders, consider attending an Elite Legacy Education 3-day basic training or upgrade your existing education package to include a phone mentor or in-person mentor. Mentors can be sure you are starting off on the right foot or can be there to help you when you fall.

Areas of Review

Takeaway

Big picture takeaway points

  1. In finding deals, there are many ways. There is no one stop shop or certain way.
  2. Just finding a deal is not enough. You need to have knowledge of what to do with it.
  3. The relationships you build while finding deals can end poorly or last a lifetime. How well do you know what you’re pursuing? And how effectively are you getting the information across to make yourself a desirable person to invest with?

Reflection

Self-reflection questions to think more about the content

  1. Have I looked for a property from any of the choices on the list provided above? If so, that’s great! Now pick the ones that you have not and see what you come up with.
  2. Do I have a strategy I would like to use once I find a property? If not, that’s ok. It depends on the market and information collected about the property. Do your research on which strategy best fits the property you find. Wholesale? Lease Option? Fix and Flip?
  3. Networking is fundamental in this business. Have I been to any networking events? Look up in your area when your next local Real Estate Networking Event will be and sign up!

Join Legacy’s Building Wealth Club today and continue your journey. Let our education and experience lead the way!

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