What techniques do you use to find homerun deals? I am looking for properties to flip. The habit I am trying to develop is to drive by atleast 10 properties a week, if I like them after driving by I will try to book atleast 1 appoitnment a week.
I have been using the MLS and Craigslist and the pool to pick from seems to be fairly lean.
What other ways can I find potential great deals?
I don’t “find” homerun deals, I "make"homerun deals. You aren’t going ot come across very often sellers advertising their properties a bargain basement prices. This is why knowing how to market to the right leads combined with knowing how to negotiate the right price creates the homerun deals.
The only way to get homerun deals is work with a real estate agent so you can get deals before they hit the MLS and make sure you have cash to buy that will make the agent work hard for you.
I am looking For A good Bird Dog who can get me whole sale investment deals in Dallas or Fort worth does anybody know of where i can find one ? Or know of anybody?
Most bird dogs will charge $1000 to $1500 per deal that closed. To get a bird dog to work real hard for you you offer to buy them gas to look for deals for you.
Inheritance lists are great and probably the most profitable. I highly recommend using usleadlist.com and talk to Lance to get a list. He specializes in these lists and has been doing it for many many years. They are a little more pricey than other lists but you get so much more value for these.
Lance will personally walk you through the whole process, give you a script and audio script speciafically geared towards inheritance leads. And these leads normally generate unusually larger profits from the deals since these elders usually have quite a bit of equity in these properties that they’ve buillt up over the years.
“DEALS ARE NOT FOUND THEY ARE MADE”
Great point JLondon. But I think that its usually a little bit of both sides. You can find good deals but you really need to structure them right and make the right price to make them good.
I also wanted to add that it is much better to focus on the bigger deals. I’m not saying that you should have a minimum on how much you need to make on each deal. However, if you see huge profit potential in a certain deal, you should make that your PRIORITY. All other deals should take a back seat to it.
With that being said, my number one goal is to help the homeowner out of their current situation. So I will still try to close deals with little profit potential just to satisfy the homeowner. Great business bring much more great business!