Epic Real Estate Investing - Find Your Discounted Real Estate Here! | 819

Episode Date: October 28, 2019

This Monday, Matt shares the best ways to find discounted properties. More specifically, you will learn how to efficiently find motivated sellers avoiding high competition.  In addition, if you want to increase your efficiency of finding discounted real estate even more, check buyheregetmore.com!   Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. Success in real estate has nothing to do with shiny objects. It has everything to do with mastering the basics. The three pillars of real estate investing. Attract, convert, exit. Matt Terrio has been helping real estate investors do just that for more than a decade now. If you want to make money in real estate, keep listening. If you want it faster, visit R-E-I-A's.com.

Here's Matt. Hello and welcome to the Epic Real Estate Investing Show. Really glad that you're here. If it's your first time, welcome. Glad you found us. If it's not your first time, welcome back. And it's real estate investors. It's our job to buy low, sell high.

That's the basic job description. So if you want to buy low, if you want to buy real estate at a discount, you're many more times than not going to have to look off market for those types of opportunities. And off-market, meaning finding houses that really aren't yet for sale or haven't been announced for sale. So you've got to be a little bit of an investigator, a little bit of a futurist, a predictor, and sort of guess where the next property sale is going to happen and then guess who that person

specifically that property owner is going to be. So, yeah, there's ways to do that. And I want to walk you through that. But one of those ways is you could just really walk through a neighborhood, knock on every door, and ask, do you have a house for sale? Are you thinking of selling soon? And you can just do that, walk through the neighborhood, knock on every door, and just work the numbers. And eventually, you will find a discounted sale. And people do that. I did that. I know that they're out there. For my personal preference, however, in this day and age, or where I am in my life, it's a little bit on the, inefficient side. Not to mention it takes above average discipline, above average perseverance, tenacity and resilience, but people do it and people do it with great success. So that is a way to do it. And the people that do succeed knocking doors, they do so because of those character traits that I just ran down. And as well, there's very little competition doing it that way.

You know, it's a people business and you're knocking on the doors and you're meeting face to face with people that have the potential to sell their property. And you're looking for those people that have the potential to sell their property. The discount. But you just got to work the numbers and it's a lot of work. And because there's a lot of work there, there's very little competition. It's just kind of the way human beings are wired. We like to choose the path of least resistance. So consider that as we walk through this, the harder the work, the less competition.

and there really becomes a sliding scale as well because the easier the work, the more competition you're going to find. And that's why there are very few deals say to be found on the multiple listing service. That's the retail service where real estate is sold because, you know, in today's day and age, anyone can just log on and look at real estate for sale right from the comfort of their own, their own anything, their own couch or their own yours. yard or on vacation or at the beach anywhere. That's just how convenient it is.

And it's really easy to do that. So more competition, the harder the deals are to be found. So with something like the Multiple Listing Service, there's a lot of competition there. So those deals are going to be more difficult to find. All right. So let's get back to our subject. If walking neighborhoods and knocking on doors is too inefficient for you as well, how could you increase your inefficiency?

or how could you increase your efficiency? Well, one thing that you could do, instead of knocking on every single door, instead of knocking on them, you could send a letter to every door in your stead, just send a letter to every door in the neighborhood. So the exchange there is, what you give up in labor,

because it's free to walk the neighborhood and knock on the door, what you give up there, you have to compensate with your wallet because those letters aren't free. If you sent postcards, those aren't free, nor is the postage. but you do have your time back, so that would be the trade-off. There's the exchange.

So how can we now maintain the efficiency while reducing the expense? Well, instead of sending every house in the neighborhood a letter, we could send only to those that have greater odds of selling their house at a discount. And so how do we know which houses those are? Well, here's what I know. Nobody in their right mind is going to sell their property at a discount. unless they have to. And what causes someone having to sell their house? Well, it's typically some sort of problem, unfortunately. And even more unfortunately, problems happen to people every day. Problems like

divorce, job loss, death, disease. Problems like expensive property repairs, bad tenants, adjustable mortgages. Problems like obsolescence. And really, to some degree, you'll find indifference being a problem or a source of finding a deal. I mean, any sort of shift in one's personal situation, financial situation, or properties situation. So we could just look up people at the courthouse who show signs of these types of problems. I mean, you can go down and you can look at the probate records, you can look at the code violations, the bankruptcy records, notices of default and trustee sales, water liens, sewer liens,

weed abatements, divorce records. All of those are all available for the public to view. And those types of problems happen to people. happen to properties each and every day. There's no shortage of this type of information that could be a clue to an imminent sale of a house. So to bring the cost of your letter mailing down even further, you could reduce the size of your mail list to just the people in your neighborhood who are experiencing one of these life challenges.

And because these types of problems happen to people every day, the result is an endless supply of off-market discounted real estate opportunities. You just have to know where to look. And yeah, those things, they happen daily. Sadly, but they do. And people need help. And us as real estate investors can provide that type of help. All righty.

So with so many people experiencing so many challenges, how could we reduce the cost even more without sacrificing our efficiency? Well, the question that then comes to mind, which of these property owners with problems present the greatest possibility of a discounted real estate. Like how do we choose which list or which category of property owner of property to send our letter to?

Well, for the most part, all of those lists, they're all about even. And that's certainly open for debate. Everybody has a different experience. If you've done this before, there's certain lists that you probably lean towards. From my experience, probate lists and tax lien lists have shown to be pretty consistent performers, but there are deals in all of those different life-changing or those life-challenging categories. And as a disclaimer, just because someone has a tax lien on their property doesn't mean they're going to sell at a discount. That doesn't necessarily mean they are a motivated seller.

No, you still have got to play the numbers and look for that small number of people that will sell their property to discount. And the same with probate. The same with code violations, the same with divorcees. It's just, you're just putting the percentages of finding that great deal. They're just putting them a little bit more in your favor versus mailing to the entire neighborhood. And by the way, if you'd like to take a look at an updated list of the resources we use to increase our efficiencies even more and make all of this happen, take a look at buy here,

get more.com. Buy here, get more.com where if you should become a customer of any of the services and resources that we're using there, use those. links on those pages and what we've done is we've made arrangements for a lot of those services for extra benefits for you being a part of the epic community by here get more.com and we update that list regularly and anytime we find something we don't like we'll remove it from there and any time we find it something new that we do like we'll add it all right anyway to increase your percentages even more of finding that next great deal while reducing your mailing costs let's just send our

letters to probate properties that have tax liens right So we would essentially be doubling down on those life challenges. If we wanted to increase those percentages in our favor even more, maybe we triple down and we send our letter only to probate properties that have tax liens where there's also a code violation. I mean, the possibilities of finding that next off-market deal have just increased even further, right? The more problems that the person has, the more challenges they're experiencing, the more likely they're going to want to dump that property so they can get rid of or at least

minimize those challenges that's causing them personally in their life. And not to mention, though, also the size of your list gets smaller, which also results in an even smaller marketing cost. And what if we just got crazy and we added on top of that list another factor, like just the vacant houses that fit all of those categories? So, I mean, you get the picture, right? The more of these problem factors you can find in common with a single mailing address with a single property owner, the greater the level.

likelihood of finding a deal, an off-market deal, an off-market discounted deal in the way that now being a real estate investor, you could buy really low and sell high and make a great profit for yourself. And we use a really cool tool to not only find all of these cool records so that we don't have to march down to the courthouse. We can do it right from the comfort of our own home. And then we use an additional tool that also takes all of this data and stacks these factors on top of each other, generating these multi-challenged properties so that you don't have to mail so much, right? You can just kind of, rather than going with a shotgun approach of knocking on every door in the neighborhood, you could send special letters to just those people that have a bunch of life

challenges stacked up on top of each other. And it's been a real game changer for our business since starting doing this probably about 18 months ago or so. It's really reduced our mailing costs and we're talking to a lot less unmotivated sellers, which is a plus as well. And like I said, all of those resources and bonuses can be found at buy here, get more.com. And whether you choose to use these tools or resources for finding your next off-market deal, it doesn't make a difference to me. But just don't let the concept here get lost. The more problems you find, the greater the possibility of finding a deal.

Just follow the problems and the profit will follow. it for today. God bless to your success. I'm Matt Terrio. Living the Dream.