Deals in Your Own Backyard

We are in a unique position here in Dean’s coaching offices. We are able to get a quick check on the pulse of the market by working with students all over the US and Canada. In addition to working with the students many of us also invest all over the country ourselves. As a result we have a very good sense for what is happening in the real estate market.

As we begin heading into a seller’s market you will hear more and more often that inventory is low and there are no deals out there. Hearing all of this may make you want to give up on your real estate business and ultimately your dreams. DON’T!!!

There are a lot of naysayers in the world. Some of which are in positions of trust. People that we look to for guidance and help are often the very ones discouraging us from achieving our dreams. The very first business I wanted to start when I was 19 years old was strongly discouraged by my grandparents whom I had shared my dream with. They were entrepreneurs themselves so I thought they would be supportive. They suggested I not pursue the idea and avoid the “headache” of business ownership. They had my best interests at heart but didn’t encourage me to do what I felt in my heart I wanted to do.

How does this apply to Real Estate investing? Again, people we look to in the industry may try to discourage us from pursuing our RE dreams. From Realtors to Mentors they may tell us things like “there are no deals out there.” There are plenty of deals. It’s true they are not as plentiful as they were over the past few years. But, keep in mind we were in the worst housing market in decades. Of course it was easy to find deals. Yes, we may have to actually put forth some effort to find them but they are there.

On almost a daily basis I am told by students that realtors and others are telling them there are no deals to be found. Without fail I do some basic internet searching and find hundreds of properties in most of those same areas with motivated sellers.

Here’s what I do to get a basic idea of whether or not there are deals in an area:

1. Goto realtor.com
2. Type in the city and state of the area you are looking in
3. Click on the “Advanced Search” link below the location
4. In the Advanced Search window expand your search area to 20 miles around the city
5. Check the “Price Reduced” box

By doing this you will have at least a basic understanding of whether or not there are sellers out there with some level of motivation. You can then take those addresses and give your realtor to do a more indepth search for you.

Again, don’t listen to the negative voices out there. Put forth an effort to find motivated sellers and then make offers. If you will do this you will get deals.