There are very few deals in a year that would be considered easy. In most cases, you need to spend extensive time marketing and networking just to obtain a lead and then more time turning that lead into an actual deal. Fortunately, if you work hard and smart enough, there are some out of the box ways to find investing contacts that can lead you to deals. Between Craigslist, the MLS and investing groups alone, you can find enough investor contacts to keep you busy. Getting contacts is the easy part. Knowing how to work them, however, can prove to be much more difficult. Here are three weekly tasks that you can use to find new deals.
Regardless of where you live, Craigslist is filled with real estate buyers and sellers. It takes some time to decipher who is really serious, but if you dedicate a few hours a week to calling and emailing the contacts on Craigslist, you will find more deals. Many investors are specialized with what they want to buy. If they get a deal that doesn’t interest them, they pass. If you can reach out to these investors and offer some incentive to them for giving you these leads, you can slowly fill your pipeline. You may need to prove that you are serious by closing a deal or two first, but if you stick with this every week there are deals to be had.
The same is the case for investors you find on the MLS. If you do not have your real estate license, you should consider it for the MLS access alone. On the MLS you can find who has bought with cash in a specific time frame and in a specific area. With this information, you will know their LLC name and address and the subject property. It should be easy enough to find an email and possibly a phone number, but at a minimum, you should be able to mail a few letters out expressing your interest in either working together or sharing information. There may be a property or two that they would be interested in selling before it gets to the market or there could be a way to make money providing properties that you may not be interested in. It is never a bad idea to have as many cash buyers on your email list as possible and the MLS can provide you this information.
Finally, there are many local investing or networking groups that could be considered a waste of time. The truth is that you get out of them what you put in. If you make it a point to gain just one solid contact every meeting, you probably will. Instead of treating it as a necessary evil, you should embrace the fact that you are in a room with people that are actually interested in investing and are closing deals. Treat these meetings as a way to grow your business and not as something you have to do.
These should be three things that you do for just a few hours a week every week in addition to any networking and lead generation you already have in place. If you are consistent with these, you will start to build a buyers list and valuable contacts that will lead to more deals.