How to Find Great Deals in the Area you Want
By Don Christie :: June 20, 2008 :: General
I find just opening my mouth and talking very easy. Lots of women do too - and they do find more agents and owners to deal with than us men. In my experience it is this way anyway! So lets get the ball rolling with some fresh ideas on finding the property deals or transactions in your area or new areas.
I bought some business cards that say very basically. “I Buy Houses.”
These cards cost me $100 for 1000 cards. They are exactly what you need to get if you plan on standing out from the crowd that speak to agents, homeowners and developers every day. Also on the card is information regarding my business of vendor financing houses through our easy homeownership program.
You also need to visit the agents and developers often and spend time building the relationships with them. At first your efforts may seem in vain, but next time they get a deal they know will suit what you have told them, they will for certain ring you and tell you first.
They will obviously ring you with a whole heap of other buyers, but then and there you need to take action. You need to go and see the deal. If you do not go, usually you have just blown that relationship. These agents work on numbers and if you cannot get the money for the deals they have they move onto the next guy who does. You at least want to visit what they have on offer and discuss it with them. Give these guys feedback on what you liked or disliked. You will gain a lot of respect if you can act like a business person and can help the agent with his business.
Agents in the past have called me to offer me a great deal, but I have been too busy with another project or deal to even make the effort to see the property. Now these guys have never called me back again. I find people, maybe they move offices or agencies, and they re-find my card and ring and ask me what I am looking for, only to find out we have already spoken before.
Another great way is to get updated ‘new listings’ email alerts for real estate websites. There are a heap of great sites, but be aware that most of them seem to be updated after the agent has called his buyers lists, and those guys have the information long before you get your email alert.
Get busy with a few leaflets or flyers in the areas you want to buy in or may consider buying in. You will meet some people, talk about houses and the area and you never know what may come up. I think this is great as a low cost way to find houses as it gets you in the area on the ground and you will notice things like street crossings, lights, rental houses and you get a bit of exercise and fresh air. The conversion rate is very low with this type of advertising, but how many deals do you want this year? If you get too many great deals can’t you just sell them to an agent for a $5000 cash payment anyway? Or email me, I’ll buy them if you get too many!
I have a joint venture partner who has got some unique signage on his car that advertises he also will buy your house. He told me that he does not know if any deals have come his way from having the sign, but I am sure it was cheap enough, and it is all about branding and being out in the market doing it.
Advertise in the local papers what you want, many people look there and I have in the past found houses this way. For $30 you never know what may happen. Again if you get too many deals you can always find other investors who are willing to buy those leads off you as this saves them time and effort.
Go to open houses with your business logo printed on polo shirts. This may sound cheeky, but why not stand out and be different. The agent will remember you and your shirt long after he has seen 100 people though out the week.
Just talk to people and tell them what you do. I have found that couriers, mailmen, door-to-door people, know what’s going on in certain areas as the people who live there talk to them. Make an effort to give your cards out to people who maintain houses, gardeners, electricians and plumbers who may know of other investors, agents or owners who may be selling in the near future.
Just go out and be seen in the market place and be prepared to go out of your comfort zone to get comfortable.
Last 5 posts by Don Christie
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- No Bank Qualifying, Vendor Will Finance Buyer into 3 bedroom House
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- If You Don't Listen to This You May Be Missing Out on $1000's
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