I'm amazed at how many people I meet that seriously think that what's really
holding them back is their inability to find good deals. So today, I'm going to be
sharing three of my favorite strategies for finding amazing deals.
Okay. So, I recommend taken some notes on this because what I'm going to do is I'm
going to drop some serious value based knowledge. I think that's going to really
help you out. Because listen, if you can find a deal that's packed with equity,
you can find a house where you get a big discount, that's a house you can sell and
make a pile of money. That's a house you can do a single family. That's a house
you can do a lease option on. So, what I want to do is I want to focus on how do
you find a really good deal. Let's start by actually defining what is a good deal
and then let's talk about how you actually find them. So, in my game, one of
the things that I recommend for people that are brand new is you want to get
into single-family homes. If you're playing underneath the median, let's talk
about finding a house maybe that's worth $200,000. There's 2 things that will
determine that this is a good deal. The first one is are you getting a discount
on it? If you could for example buy a $200,000 house for $170,000,
there's a difference of $30,000. So, if you buy
this house, at some later date you could sell it and capture some of that money.
And that could leave you significantly better off. So the first one is get a
discount. The second thing is to take a look at the ROI. Now, this comes down to
your strategy. Are you flipping it? Are you doing a lease option? Are you doing a
rental? What are you actually doing on this home? You know that if you click the
link in the description and talk to member my team that if you're brand new,
I'm going to be talking about lease option because I can make 2 the returns
that I can on a rental. You can make 5 grand upfront. You can make $500
a month, each month and you can also make tens of thousands of dollars
when you actually sell. So, that's the strategy that will factor into ROI. And
for me and real estate guys, people are pretty happy if they're beating 10%.
But here's my goal in focus. I always want to be making 20%.
A discount is not the only thing that you're looking for. Sometimes you don't
need that to get a really high ROI. But those are 2 factors that we can use in
saying, "Hey, do we have a good deal?" So now that we have this definition, here's the
real question. How do you find them? Let's start with
strategy number 1. Realtors. What is a realtor? A realtor is a real estate
agent that earns a commission for helping buy and sell properties. And the
person selling the home has to pay them generally a 3% commission.
Now what's 3% on a basic $200,000 house for this example? It's 6 grand. So a
realtor says, "Hey, I'm going to try to find a buyer for that home or I'm going to try to
sell that house." So the agent that's representing the seller and the agent
that's representing the buyer, each potentially can make $6,000. And if it's
one agent playing both, they can make up to $12,000. Those agents, because of that
kind of money guess what? They're highly motivated to basically help investors
like us. And here's the cool part. We don't have to pay them. We're trying to
buy property so the person selling, it's going to actually have to pay our agent
fees. This is really good news but which means that you can get as many agents as
you want working for you for free. That's... Sorry, that's a little Adam Sandler for
you. The question is how do you get an agent to work for you? Write this down.
Number 1. I want you to go to all the places online where you find Realtors.
Look for their faces, their name and properties that they're trying to sell.
And you want to look for the agents that specialize in foreclosures, handyman's
specials, great investment opportunities. And it's all they seem to represent. Now,
some agents will gravitate towards that specialty in real estate. They like
working with investors. They're less emotional, they'll make decisions as long
as the numbers add up. And they can do multiple deals with them. So, smart
Realtors will work with investors. And what I want you to do is find them. Now,
super easy. You just got to look for those keywords. Just go to all the places
where homes are being listed by Realtors and look for a pattern. You're not
looking for a house right now. Does that make sense? You're looking for a realtor
that specializes in discounted properties. Here's what I want you to do.
I want you to go find 10 of these Realtors. And I want you to call them up
and say, "I'm an investor, here's my criteria. I'm looking for a certain ROI
or a certain discount." An 8 out of the 10 are going to say, "You crazy. Yhat is
to you that is way too aggressive." But 2 out of the 10 will say, "Alright."
And they'll start sending you deals. And guess what? Those deals, they won't
necessarily be good deals but they should be good deals. You're going to find
out whether that are good realtor or whether they're bad realtor they're
going to find out if you know your stuff or not. But bottom line is they're going to
start sending your deals. That is one of the three things I wanted to share today
for how you find really good deals. The second strategy that I want to give you
is to actually go and talk to landlords. Now,
this is weird. Landlords are owners of homes that are
trying to find tenants to rent their homes when they become vacant. Why would
I want you talking to them? Because some of those landlords are don't-wanters.
They're sick and tired of being landlords, they're sick and tired of
owning the home. And you get to come along and if you find a landlord that it
has a property that's rented for too low, meaning they could rent it for more. That
could be a sign that they're a motivated seller. It could be a sign that they are
motivated and that they are unprofessional. Means that they're not
classically trained. It means that their emotional. Means that they may not know
what they're doing. Which means that they don't care. But something is off and when
you can find a property that's rented for very little, you do have the chance
to actually contact them and say, "Hey. would you be open to renting your house
to me and then letting me buy it maybe like 4 or 5 years? By the way, I'll
do all the management." I'm going to tell you right now. The landlord is going to say, "Tell
me about that." They're going to be really interested because they're sick and
tired of management. They're sick and tired of maintenance. And they're sick
and tired of having to find a new renter every 12 months. Whereas you might be a
5-year tenant. How cool is that? Right? Okay, so that's another strategy that I
use for finding really good deals. One is leverage Realtors. Number 2 is go talk
to landlords. Number 3 is more of a bonus and it's the easiest one that I
can give you. I have a team of experts that do nothing but hit the payment
pavement finding the very best deals for me. And I got too many right now. I have
an excess of deals. I got so many deals right now and I got no one to actually
help me do those deals. So you could actually join my real estate Club. And as
a member, I would actually be giving you deals. And that might be the right way
for you to get started. Now, that works for people that have money. And then if
you don't have money, then I'm going to do some training. I'm going to show you how to
find the good deals and how to do them without taking any money out of pocket.
So friends, when we talk about finding a deal, is there discount, is there a good ROI?
Those are three really good strategies. Work the Realtors and have them work
for you. You can work the landlords and have them dish up good deals where you
don't even need to do bank financing. Because the
turn the home over to you. Or the third, my team has all these extra amazing
deals in the best markets and I'll tee them up for you. If any of that makes
sense or if you're looking for a mentor that can really get into the details and
like guide you through this, click the link in the description. Talk to a member
of my team and have them break it all down for you. We can actually show you
whether you got money or no money how to do real estate the most successful way.
There's a game plan for you. They can help you absolutely crush it. Thank you
so much for watching today's video. I hope it was informational, educational. If
you liked it, please give it a thumbs up. And then other than that, subscribe.
Because every single day, I come out with a new video to teach and train and
educate you on how to freaking crush it in this game of real estate. If you want
hands-on help, click the link and we'll see on the other side.