The 5 Fastest Ways to Find Your First Real Estate Deal
April 12, 2007 by David Cowgill
There are literally dozens of ways to find motivated real estate sellers but to get your feet wet, I’m going to list five quick ways to find a real estate deal. Most people will read this list and say “yeah right that won’t work” but I’ve followed these techniques and it actually does work.
What do you have to lose in trying anyhow? This gorilla marketing approach gets your name out there and begins your lead generation campaign and gives you on the job experience.
- Make cold calls – pick up your local paper and read through the classified section and look for ads that say “for sale”. Make several calls and see if you can find any motivated sellers.
- Place your own classified ad – you’re essentially putting out some bait in hopes that strong motivated sellers will respond to your ad. You want your ad to be titled “I buy houses”.
- Tack up “I buy houses” signs all around your targeted neighborhood – yeah this method might seem silly but it’s one of the best lead sources you can get working for you.
- Spread the word – let your friends family and anyone else you know understand what you’re doing. Who knows who might be looking to sell the property and could potentially come to you directly.
- Call top realtors in your area – this is actually my favorite method because you make great contacts and establish yourself as a real estate investor. These real estate agents will then contact you when they feel a good deal is available for you.
After you go through this list and try at least one method, let me know how it worked. If you got frustrated and/or nobody was interested or returned your call, don’t give up. Not all real estate investors are sales people so it’s not a natural approach.
The old school methods I listed above can and will work but if you don’t feel it’s right for you that’s ok. With the effectiveness of the internet, you can place ads online, email your friends/family, and fill out a “contact me” form on your top realtor’s websites. This in essence accomplishes the same 5 tactics I described above but in a different more hands off way. Good luck and don’t give up!
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“Tack up “I buy houses” signs all around your targeted neighborhood – yeah this method might seem silly but it’s one of the best lead sources you can get working for you.”
Absolutely the most cost effective marketing out there… we place thousands of signs weekly for investors all over the country.
I would be glad to help you put together a campaign.
greg@thesignbandits.com
http://www.TheSignBandits.com
These tips are great and I would add one more to the list that is always important.
#6. Pass out business cards. Having your name in the pockets of america is one of the best ways to remind them your looking for houses. Keep them in the know.
I have been using all of your strategies for years & they really do work well. These are really great ways for newbies to get out there and get their first deal under their belt. Once you get the first deal out of the way, the subsequent deals become easier & easier. I would also suggest partnering with an experienced investor, you’ll be doing most of the work but learning as you go.
Cheers!
Hampton Roads #1 House Buyer
I have been investing in Jackson, MS for about a year and a half – and was facing a headwind the whole first year. Banks were changing their loan criteria one day before a loan was to close. Comps were 15% lower a month after I’d buy a property. And so on.
But since the middle of Summer ‘08 this has all calmed down. Stopped actually. Buyers are getting loans, comps have been steady for 6 months, giving the sense a plateau is at hand.
Jackson was hit very early on in the current foreclosure debacle and getting that sorted throughout the local market took time. But at this point – if 6 months of steady data is an indication – it seems to have stabilized.
And it would be great if this was a leading edge indicator that the not-too distant future could see the same nationally.
We have a lot of information on investing in Jackson on our website. And I’d like to invite all interested investors to check it out and review our current listings in the process. http://www.irvinehillsllc.com. Good cash flow, good equity, good prices.
Best of success with all your deals.
Les Oreck
Old school methods like these absolutely still work. Browsing through the paper is one of my favorite way to find potential sellers. Sometimes you will find a better deal then you thought.
I am a broker,and I’ve been using these methods for a long time, It’s not that easy to find good deals, you know. Posting ads on popular classified ads really takes time, however, I find it the most exciting part. I use to sell properties in Minneapolis Area. Lots of competitors.
If you want to see what I offer, I’ll be glad if you will contact me. Thanks!
Stephen Davies
reoz1@yahoo.com
http://minneapolisreopros.com
I think one of the fastest way to have your first real estate deal is to post ads online. I suggest using Postlets.
BanK Owned Salt Lake
The fastest way to have your first real estate deal is through internet marketing. Using social networking sites like facebook and twitter. And to post your ads online.