Finding Great Deals!

It stuns us how many investors say, “I can’t find any good deals.” Folks, you’re not looking! The foreclosure market is flaming hot!

There is an abundance of deals out there, but you have to actually work to find them. We think that many new investors, who watch too much late-night TV, are under the impression that if they decide to become an investor, the “investor fairy” will drop deals out of the sky. Not true! Investors actually have to work just like the rest of the world.

The difference is that we are not stuck in a nine to five rut and bound by the bosses’ rules. Our job is fun, profitable, we make as much as we are willing to work for, and we help people along the way. 

We want to share a few of our favorite methods for finding deals. First and foremost, the oldest method in the book: knocking on doors! We’re here to tell you that knocking on doors is still the best way to find deals because other investors hate to do it. The biggest problem is that investors don’t know what to say.

It’s simple, just tell the homeowners that you were at the courthouse doing some research and noticed that they have a pending problem with their property and you‘d like to help.

NEVER mention the “F” word…. get your mind out of the gutter…we mean foreclosure.

Ask them if they took care of it. Typically, they say, “Yes.” Ask what they did… filed an answer, sold it, brought the back payments current, what? You can tell by the blank look on their faces that they haven’t taken care of anything. Offer your assistance and move forward with your deal.

What about postcards? Do you religiously mail them? To whom? Most investors mail postcards to people in foreclosure. This is a great idea, but did you know that there is a wealth of other information that is public knowledge? Try mailing to people in probate; going through a divorce; in bankruptcy; and landlords who just walked out of eviction court. This information is public knowledge that the typical investor doesn’t tap into.

NEVER be typical!

What about mailing lists? Have you ever considered buying a mailing list and “farming” neighborhoods? It works for Realtors, why won’t it work for you! We buy lists by the zip code and mail where we want to own property. Doesn’t it make sense to have several properties for sale in the same area opposed to all over the county?

How about phone calls? How often do you sit down and call foreclosures? Never? Why not? With the Internet, you can find almost anyone. Investors, take the time to find people who have moved or changed their numbers. If they have moved, you have a deal because the mental attachment to the property is gone.

Do you run ads in newspapers? Why not? Many investors think ads are too expensive or that newspapers are outdated. We actually taught a recent class and a student in the audience said he had never actually held a newspaper…lol. WOW – did we feel old!

There are so many small papers in every city. Find a few and run some ads. Older people still like to hold and read papers and they are often the people in the biggest trouble. Put down your IPad for a minute and drive by some newsstands and grab papers. Ads are cheap and they work!

How many deals do you have to do to pay for a year’s worth of ads? One? We’ll give you a little-known tip: place your ads under “money to lend.” Many times, the homeowners’ first choice is to save their house, not sell it. Once you have them on the phone you can negotiate your way into the deal.

Have you tried Craigslist? Craigslist is a plethora of information. Currently, it is one of our top methods for finding deals. People advertise their properties for sale because they are trying to save on real estate commission because they are headed to the foreclosure sale.

In fact, you can PLACE an ad looking for people trying to sell their homes. Find the category, use a ton of key words, and keep updating your ad so it will stay at the top of the page.

Friends, foreclosures are absolutely everywhere, in every city, in every price range. You have not, because you are not looking. I could come into your area and find 20 live deals in one week’s time.

It is important to come to our event so that we can share our favorite techniques in more detail (you can only share so much in 800 words…lol) and watch your business go through the roof!

You will make as much money as you are willing to work for.

Our question for you is: how much are you willing to make? The sky is truly the limit. The bottom line is this, there are thousands of deals out there. If you don’t make the effort to find them, other investors will. We know because we’re one of them!