HOW TO FIND DEALS!

will be harder to wholesale if that is what you are doing, because of retail buyers. Put out bandit signs and ads on craigslist and backpage. It sounds like a lot of information is new to you, so I suggest you take the time to read the books, and look at the forums. Make sure you have buyers as well: There is a forum on just this topic here. http://www.deangraziosi.com/real-estate-forums/everything-else/135792/he...

Thank you for getting back to me. I do have some buyers, and I'm trying to find deals base on their criteria. I'm working with my realtor, but everytime we put an offer it's not getting accepted because it's too low or because that property has a lot offers.

I'm using only the MLS to find properties, do you have any other suggestions to find properties?

Thanks,

IK.

Talk with attorneys or developers

If you see a property that is going through construction, contact the development company and ask if they are looking for other properties

The MLS is limiting because its on the MLS and if it were such a great deal it wouldnt be still for sale

Put in offers that will make the deal; throwing deals on the wall to see if they stick will grow old.

Get properties first. That will also allow you to determine who the real buyers, not time wasters, are.

Good luck to you.

Thanks for your advice.

Ivette.
Welcome aboard. I am new as well. I have a plethora of way to find property's but have not been able to get them low enough to wholesale due to the low inventory we have at the present time.
So, I did a little driving for Dollars and found a great home ARV around 525K.
This home has been vacant for a year (and shows it) because the single woman who lived in it was hospitalized and died last September. We are in negotiations no with the executor who lives out of state. This home is definitely a rehab but we are shooting to pick up the home for around 200K and then put 50 to 75K into the rehab so we would clear over 200K on our first transaction. Since we are rehabbing the home we made the decisions to sell it retail because it is a great neighborhood and time on market is very short right now.
So I have added Driving for dollars as one of my very active tools right now.
Pick a neighborhood, drive it, learn it, love it, profit from it.
Good luck.

Thanks for the welcome.

Ah.....ok, great idea, I didn't thought of that.

I'm in miami area, miami as I noticed is very competitive market. So, I guess I have to dig deep to find something good. The thing is that I did want to make a deal by the end of this month, and I don't see that happening. And I'm anxious about it.

Thanks for your advise!

I watched the LiveCast 2012

https://www.deansinsider.com/livecast/replays2.html

and there was an interview Dean did Tina Hague who is an investor in Las Vegas where it is very competitive at when making offers. It was the Day 1 Video four. I followed Dean and Tina's strategy to a T with her Firehouse technique. I started it on a Friday night and pulled them on Monday night, and I had non-stop calls coming in. I couldn't keep up. I had 126 inbound calls over the 3 nights and 4 days and still have 40 numbers I haven't been able to call. There were Cash Buyers and tenant buyers that called in. You can do it anywhere anytime. Let me know if you need the script I used.....here it is:

"Hi, I'm _________________________ and occasionally I run across houses that can be bought at a substantial discount. Would you be interested in getting information about houses I find?"

If I find an amazing deal that fits your criteria, could I email it to you? Who would say no? If they say no, move on to the next person. If they say yes, say “Great! I just have a few really quick questions to ask you.
What are you looking to buy?

Is there a certain time frame?

Is there a certain area?

A certain price range?

What are the last couple of deals that you’ve done?

Do you have access to cash?
How quick can you close?
Would you be interested in Lease Option? Down Pmt/_________ Monthly amt/______
What kind of equity or return are you looking for?

What is your full name?
Email address?
Phone number?
Write all this down in under five minutes. When you get all this information down and their email address and phone number and you promise them you won’t pester them unless you have a deal that fits their criteria, then you shake their hand and go on to the next buyer at your real estate investor club, auctions, call-ins, etc., then just do this same commercial all over again.

Good Luck, Hope it works as well for you as it did for me. Louis

Hi Louis,

Great input! Thanks for sharing. I will watch the Live Cast and put it practice what you mention.

And where do you look to find deals for your buyers?

Thanks again,

Ivette.

so far I put out bandit signs at hi volume traffic areas where people have to stop. I had one deal accepted this week, and am waiting on another to get approval thru probate. I buy them from signwarehouse.com and follow the techniques as instructed from Matt in Dean's book 30 Days to Real Estate Cash. Next, I am getting prepared to work with a realtor as that will be very effective to make offers in areas I choose. Hope this helps. Signwarehouse.com is even cheaper than any one local and I found them in Deans book I think you can down load it for free. I pay 110 to 130 for 50. I still have calls coming in from signs I put out earler this month. Louis

Hi Ivette & fellow DGers! Want to start by thanking Louis for repeating Tina Hague's Firehouse technique. I like that much better than a ghost ad, and can be used as a great intro at events with a pocket full of cards & a tablet. Excellent Tina & Louis!

Ivette, to your question > I'm a newbie too, and cost is a major factor in getting started. Bandits are effective, but not the cheapest form of marketing. A Craigslist and Backpage ad, the same that you would use on a bandit to attract sellers, is very inexpensive, although maybe not as effective as bandits. So, I read about a money saving technique to at least get started with, which is dumpster diving for cardboard boxes to use for bandit signs. Avoid food dumpsters. You can even avoid dumpsters by going to malls and shopping centers and asking merchants for empty boxes. White boxes are primo. Then go to Walmart or art supply store for BIG, DARK markers. Home-made bandit signs won't attract EVERYONE, but neither do store-bought. They won't weather as long either, but I saw one of my store-bought signs mowed down by a city lawn worker minutes after staking it by an interstate off ramp, so don't fret about that - they're to be regarded as disposable marketing. If you just close 1 Wholesale deal ($3K-5K) out of 50 signs made, you're on your way to doing it anyway you please. The key is to first get started.

And, to further assist you, here is a rough cut of Matt Larson's Whiteboard Illustration on
The 25:1 Strategy Update

You & Your Agent Search MLS & other listings for:

SELLER ads with: "As Is", "Vacant", "Price Reduced"
HOUSE types: 3 Bed, Starter Homes (the most popular)
HOT AREAS (Zip Codes with high numbers SOLD! in last 30 days)

Search with the mindset that you are Competing with 1st Time Home Buyers

Look over those listings for other signs of motivated selling (Diamonds in the Rough): "Fixer Upper", "Handyman Special", "Must Sell Fast"

Probate properties fall in to this category very well, and can be found in every county's city hall listings.

Have agent run comps on houses per area for FMV (Fair Market Value)
Run you numbers for your offer price:

Property FMV: $ (ie: $200000) -
Discount Wanted: % (ie: 25%) -
Rehab/Repair Costs: $ (ie: $5000) -
Profit Desired: $ (ie: $10000) = Offer

If you contract to buy it for $100K - $95K you contract to sell it for = $5K! (Wholesaling)

Best of Luck!

Hi,

Wow, thanks everyone for your great input and ideas. Thankssss for sharing, it means a lot for me since I'm just new to this and it's really out of my comfort zone and I'm doing it.

I watch the Tina webcast, and I will buy the bandit signs. At first, I thought that it will not work in Miami, FL. But, I will follow the system.

I have been working with an agent, and looking at properties but, every time we're ready to put the offer, that property has ton of other offers or backup contracts. So, I waste all my time looking at that property, doing the numbers and getting the offer accepted. And I do have to do double close, because these properties are foreclosure.

I'm so anxious to make my first deal before March 10, but, I don't know if I'm going to be able to make it.

Thanks again everyone for your great input, and I will keep you posted

Ivette.

Tina says a deals not dead till it's dead. Just because that offer goes into pending, doesn't mean it will close. She stresses strongly to follow up. That's what I'll do when I get that system in place. I'll tell my agent every so often to recheck all offers and resubmit those that didn't actually get sold. You never know. Just keep pushing forward as we all must do to get that first one done. I have one I'll have under contract this week (hopefully) then I'll use that one as an excuse to call my 107 buyers and try to find a rehab partner as Chad Merrihew does in his DVd powerful converstation with Dean. If you buy the book 30 days to Real Estate Cash it comes with 7 DVD's of the superstars and their doable nuggets. Don't wanna overload ya, but really good applicable info there also. Keep the Faith. Louis

thanks for the info and keeping it inline and simple. Louis

Yeah, you're right. I have heard that before, you get discouraged and you forget about it. But, I will follow up.

Thanks for the advice on the training, yes, I did want to buy it. But, I do have so much material on my hands that I haven't read them all. I went to the 3-day workshop, then to the boots under ground class, and I do have other 2 courses. Webinar to watch.

So, I think, first I will finish read and watch that material and then I will buy extra material.

I will keep you posted as soon I have my first deal done!

Thanks,

Ivette.

on the script I used, I told them the property had already been sold which was true as it was one some fellow investors sold and I knew there were a couple banks that were trying to clear some year end inventory and that was how I came across the property. I did as Tina did...I knew I would have that kind of property which was I could live with. Louis

I took the 3 day class and it took me 6 months to cover anything...whehhh. No more education for me unless it's bought and paid for from profit of applying the earlier techniques. At least that's how I hope it works out. Good Luck.

No, I'm not kidding .

Yeah, I will do the same, I will not buy anything unless I have make deals and I really needed it.

So, I think I will be ok for a while

Enjoy your weekend!

Hey, let me know how that deals goes!

Ivette.

that. Will do, Louis

IF you find a great agent that works for a very small realty office, they may try to put a "cap" or quota on the offers you put out, esp if they have to pay their assistant to help putting in offers, etc. I found out the hard reality, and changed my stratgem. So far, it's worked for me. And, I'm 1/2 way there to the 25 offers. What works in one area, may or may not work in another location. What do i do in a multiple offer situation? I don't waste my agent's time & end up in a bidding war with other high offers. If the numbers don't work, I won't do it. Unless, the house falls thru pending status, back on the market. Sometimes in this market, you gta know how to act fast or the deal will go pending immediately. What am I doing to combat that? Getting better at estimating repairs. Estimating value is a piece 'o cake... Use the agen't assistant for smaller items you are looking for, too. That is partially what they are there for. The agent will love it, when you do that. They either have so much time, or little time to help you get answers.

How did I adjust with my agent in Boise? Not go in a house to see the insides, until after my offer was accepted, unless i couldn't get pictures or look in. If I could at least see from the pics, I can get an idea what needs to happen. Everyone here has great advice, though. Hopefully your area isn't a "sellers market"!