22 Nov How to Find Real Estate Deals
We believe there are nine steps to success for how to find real estate deals. This is based on our experience in engineering hundreds and hundreds of deals across the country alongside the Associates in our Wicked Smart Community as well as for our own real estate company. And — these nine steps will also help you make sure the deals you find are profitable.
Here are the nine steps for how to find real estate deals:
- Find seller prospects (leads!)
- Prequalifying seller prospects
- Using follow-up properly and efficiently
- Placing the seller in the proper bucket
- Structuring deals and presenting offers
- Following up on offers
- Signing or closing deals
- Locating buyer prospects
- Getting the property sold
Whether you recognize it yet or not — you’re on the path to becoming what we call a “transaction engineer.” And yes — as a transaction engineer — you have to find deals. One of the best sources of deal flow is FSBOs (For Sale By Owner) — especially in a flat or downward-trending market. Candidly, finding FSBOs become a bit tougher in an upward-trending market when homes are selling easily.
You can find FSBOs online just like everyone else. You can also find them by spotting FSBO yard signs. Many sellers stick a sign in their yard as their sole means of marketing, which makes finding FSBOs one of the highest quality leads you can get.
Because of that — we built a system that teaches how to develop “field agents” to look for FSBO signs. You literally could have people on your team drive around your market area looking for FSBO signs. And because these are valuable enough leads — you can compensate your “agents” well enough for the information. Please note: we have a detailed report inside our QLS Home Study Program that teaches how to find real estate deals by launching your field-agent program.
Is one market better than another for finding deals?
Okay — but let’s take this a bit deeper and think about how to find real estate deals from the perspective of geography and literally where you should focus. Should you look for deals inside your market — or — should you look to invest in what you think is a “hotter” market in a different city, county, or state?
We’re often asked this question often from inside our Wicked Smart Community. And here’s how we answer it every time (the below video is Q&A with Zachary Beach from our team that you might find helpful.)
As Zachary shares in the video — yes, you can find deals and buy property in any market you’d like, whether that’s local to you — or — clear across the country. But — we recommend doing deals in the market/region where you live. Why? Because no matter where you live in the country — there are deals to find. If you live in California — why stretch your business to buy property in the Midwest?
Yes, we understand that the properties are perhaps less expensive in certain markets, but it doesn’t mean that the deals are more profitable. You don’t have to go outside of your home market to find good, profitable deals.
Can I use tech or systems to find deals more easily?
Wherever you’re located is where you should plant your flag to begin finding real estate deals. Find properties in your market first, and because of your familiarity, you will have more control over your profitability. And yes — to jump-start your lead gen efforts — you could take advantage of tools like MyPlus Leads, Prop Stream, FreedomSoft, or others to create a steady stream of leads flowing into your system. Then you’ll be able to make outbound calls to prospective sellers every day, work your scripts, and manage your deal flow through your system.
Bottom line: blending all of this work together forms the foundational blocks for how to find real estate deals. It allows you to stack win after win into a profitable, recession-resistant real estate business.
Don’t forget! Get your free copy of our Real Estate Investor’s Blueprint. Just fill out the form to the right and we’ll email you our step-by-step guide to getting into investing and owning more homes without using your cash or credit.