Epic Real Estate Investing - How to Find Off Market Deals | 636

Episode Date: April 22, 2019

If you don’t know how to find off market deals, you're going to waste too much time competing on the market, which could cause you to overpay the real estate game. However, if you get it right, you'll never be at a loss because off market is where all the money is. This is true regardless of your asset class or exit strategy. So, stay with us and learn why it is important to learn how to find off market deals, where to look for them, and how to keep getting them over and over again. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hey, yo, check one, two. Yo, this is Flavor, Flav for my man Matt Terrio. And you are listening to the epic real estate investing show, you know what I'm saying? And if you can't learn to invest here, I can't do nothing for you, man. This is Terrio Media. Yo, I'm not sure for what you came for. To throw you smoke up your ass and all. It's next door.

Line your tips up, man, just like a heck for. Are you winning the wanting? Yo, that's what we check for. Not building piles of cash, create cash flow. Epic real estate investment to make your cash grow. Won't I can tell you ain't work this hard at all. Tell people you work hard, you ain't working hard at all. Go deep with your investment.

You're all going wide. Too cold for you. Yo, you need to go inside. It's not a money problem. It's an idea problem. Epic real estate investment, man, you can solve them. Scared money don't make money. Passing income cash flows, yo, how you create money.

Make money. Savers and losers. Open your eyes and see him. Matt, there of y'all creating your financial freedom. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. You didn't know, home world, we got the cash flow.

Yeah. Big shout out to Flav of Flay. Big shout out to Michael Myers. I hadn't heard the full version of that intro in quite a while, and I just felt like giving it a listen. Actually, I'm away from the office on personal family business, and I'm having some professional withdrawals. But I am limited with my resources out here in the mountains.

So I'm working with what I've got. And by the time you're hearing this, I will be on my way back home and won't be playing so many encore episodes like I have been, and I won't be doing that for quite a while. So I did try to pick the very best ones for you, but we should be all brand new moving forward. All righty. So, and speaking of that, did you catch Friday's episode?

The Science of Getting Rich in Real Estate? I haven't heard that since I recorded it. I don't know. That was probably three, four, maybe even five years ago. What a good message. If you missed that one, go back and listen to Friday's episode. It was only four minutes long. And, you know, that message was all based off of one of the oldest personal development books ever published,

excluding the Bible, of course. And that was Wallace Wattles, the Science of Getting Reefs. The Science of Getting Rich. I think it was written in 1910. Highly recommended read. And it's a short read. It's an easy read and a very compelling and inspiring read. So thanks for tuning in.

And we're going to be talking about finding off-market deals. And before we get started, I just wanted to welcome it to the epic real estate investing show. This is the show where we help people, everyday people get the tips, strategies, and tactics to escaping the rat race using real estate. And if you're just getting started and you're looking to take down that first deal, I'm working with a small group of investors inside of a pilot program around what worked really well for me in the beginning, and it's now working really well for them.

So if you want to see how it works and what's involved, go to free real estate investing course.com. Got a little webpage there, designed it myself, actually. And if you like what you see, there's some instructions there on how to join the party. All righty. Now, let's talk about how to find off-market deals. And the operative word there is off market. Because if you can't do this, you're going to be paying way too much for real estate. And competing with the market of which could cause you to overpay in many cases as well.

But if you get this part right, you'll never be at a loss of how to make money in real estate. Because that's where all the money has gotten. It's in finding the deal. And it doesn't matter what your asset class is. It doesn't matter whether it's single family or multifamily or storage facilities or mobile home parks. or vacant land. And regardless of your exit strategy as well, does it matter if it's wholesaling or fixing flips or buying holds or lease options or notes.

You see, what they all have in common is you have to be able to find the deal first. And the best deals are going to be found off market. Listen, if you're on social media like I am, and I'm not even on that much anymore. And like me, though, you're probably noticing a new real estate guru in your news feed daily. In fact, I think I saw two new ones just today. And they'd be happy to take your money in exchange for their educational program to show you how to do deals their way. But where so many of them fall short is how to find the deal.

You've got to find the deal first before you can do the deal. You see, as much as people like to complicate the process of real estate, it's actually pretty simple. Here it is. Step one, find off-market deals. Step two, sell them to people that can't find these types of deals themselves. You know, everybody knows the second step is easy. You know, if you've got a good deal, there's no shortage of people ready, willing, and able to pay you for it. You can do that part in your sleep. But how do you find the off-market deals in the first place and continue to find them over and over and over again?

Well, it's really simple. There's a system for it. There's no gizmos required. There's no gimmicks. There's no shiny objects. Just the nuts and bolts of finding off-market deals. And here's where off-market deals are not. not. The multiple listing service, no deals there, no off market deals there, auctions,

REOs, classified ads. Certainly you can find deals there, of course, and working those sources consistently with persistence and tenacity can often lead to off-market deals, you know, indirectly. And for that reason, they can certainly be worth your time in, even enough to support a lucrative, successful real estate investing business. But the deepest discounts and the most flexibility in terms will lie. within the off-market deals. And to find off-market deals, you've got to look off-market.

You've got to go straight to the source, the property owners themselves, before they go on market. Now, just finding a seller before they make their sale public doesn't mean there's going to be a discount to be had there. There's a second element that is needed. The seller needs to have a problem greater than the need to get top dollar for their

property. That's a mouthful. In short, you just need a property owner with a problem to find deep discounts. And the types of problems that are most common are divorce, death, disease, drugs, job loss, bad tenants, property tax delinquency, deteriorating property. And those are just some of the problems sellers can have on any given day. That's how I know there will always be a business to be had, there'll always be money to be made in real estate because, unfortunately, those types of things, and we'll just call it life, life happens to people on a daily basis, and it happens to property owners as well. They aren't excluded. So they can happen on any given day. So who's not motivated today could very potentially be motivated tomorrow just because that's the way life works. So how do you

find these property owners with problems? Well, there's many ways to do this directly and indirectly, but the most common ways would be through strategic relationships. such as with a divorce attorney or a CPA or a city official. You know, anyone who would come in contact with or be privy to property owners with problems. You know, relationships, those are free, by the way. They take time to build, but can be worth millions when nurtured authentically and sincerely.

That's where most of the deals I do today come from the relationships that I built years ago. And really, when I say that I can pick up the phone and essentially find a deal that's going to work. work for me. That's not too much of an exaggeration. In fact, it's not an exaggeration at all. Relationships are very powerful and a great way to find off-market deals. They take time to build for sure, but they can be worth, you know, it can be worth, they can be like a cash register almost. When you nurture that relationship authentically and sincerely. Another way to find property owners with problems is to take a trip down to the courthouse and look through the public records,

such as the divorce records or the eviction records or code violations or probate records, bankruptcies, and those two, for the most part, are free. You know, different cities and counties, they've got different policies and how they make their public records available. But for the most part, like building relationships, it's going to take your time and your effort to do that. Now, the third way to find off-market deals is to simply buy lists, purchase lists of property owners with problems.

Some of you didn't even know that existed. You can just go out and buy a list of property owners with problems. Yeah, pretty much so. That's pretty much the case. You know, a simple Google search of marketing lists will turn up countless options. Or you can get more specific with your search and Google out-of-state property owner mailing lists. And if you'd like to take a look at the services that we used to do this, you can go to buy here get more.com. Buy here get more.com.

Like buy like purchase here. So buy here, get more.com. And this is where we're now keeping. our list of services posted for your reference. If you want to know what we're using, that's where you can go and you can see. And nothing shows up on that page there, by the way,

other than the services that we have used and were happy with. All righty. So now you know the three most prominent ways to find property owners with problems. You know through relationships, you can go to the public records, or you can just flat out buy the lists.

But now you've got to talk to them and you've got to tell them about your solution to their, problem. That's the second part. One, you've got to find the problem. Second, you've got to promote your solution. And you've got to be able to determine whether or not they'd be willing to exchange some equity for peace of mind. That's how you buy properties at a discount. You exchange equity for peace of mind, meaning you are sharing your solution to their problem. That gives them peace of mind. And for the people or the property owners with problems, we'll be happy to exchange equity for

that piece of mind. You just can't put a price on a good night's sleep. You know what I mean? And so there's no real secret here, right? You can, one, initiate that contact by knocking on their door or calling them on the phone, or you can, two, advertise and market to them and wait for them to contact you. And some of the more popular ways of doing this is through direct mail, bandit signs, digital marketing. There's probably countless ways of how you could market your solutions and countless ways of how you could spend your money on marketing and advertising. So those are the two ways. And the first two steps of finding these off-market deals is one, to find the problems,

two, promote your solutions. And the third step would be to automate the two. That's step three, because it's through automation, that's going to create consistency. That's where the system comes in. And through consistency of these two steps, that's going to produce consistent opportunity of locking up off-market deals. So to create automation, there are two ways you can pay for it. First, with your wallet.

You can pay for it with money. Or second, with your time and your effort. So to pay for it with money, it would come through what I basically just mentioned earlier, or just no second ago. Schedule your direct mail for six months at a time. That's automated, right? So you schedule it, set it, and forget it for six months. That mail is going to go out consistently. Or you can hire someone to put out your bandit signs on a regular basis.

Like every weekend, on Fridays, I'm going to give you $100 to put out, 50 bandit signs, something like that. Or hire an agency to run your digital marketing campaigns for you. To pay for automation with your time and effort, that's going to look a little bit different. You can exercise the daily discipline of knocking on doors or making phone calls, basically turning yourself into this disciplined, automated cold caller, something like that. And that's something that's free to do. Or something that's virtually free to do, place magnet signs on your car when you drive around town.

because wherever you drive, your message automatically is going to follow you. Or wear your company name and phone number on your clothes, like on your t-shirt, or an I buy houses t-shirt with Ask Me How on it. Because wherever you go, there's your message. It's automatically following you everywhere. Or wherever you go, carry a book about real estate with you. For sale by owner books will really, really, really well. And I use these three right here, these three last three that I just shared,

you religiously in the beginning because I didn't like knocking on doors. I did that for about six weeks. It was my goal to knock on 100 doors a day. I did it for six weeks. And I hated it. And there was just no way they were going to get one day more out of it than six weeks out of me because I had it. And not to say it doesn't work and not to say that aren't people that aren't successful at it, it just didn't work for me. It just didn't fit my personality or my my tolerances. It didn't fit my strengths, I guess. I don't know. It just wasn't working for me. And, uh, I didn't like cold calling either. I just don't like to bother people.

I don't like to be bothered, so why would I want to make a living bothering people? That's how I felt. And I'd rather just have people initiate the contact. You know, when they're ready, they call me. And then I'll be happy to help them. I'll help them all day long then. But I didn't have a marketing budget in the beginning to make that happen to wait for them to contact me. So I was my own marketing.

People would call the phone number on my car magnet. People would ask me how when they read my T-shirt. People would ask me about the book I was carrying. How does that first sale by owner? works or are you thinking about selling your house? I was thinking about doing the same thing. Those types of conversations would just happen because I was my own automated marketing machine. The bottom line is, this is a people business, and it's a big advantage if you make it easy for people to talk to you. You've got to make it easy for people to approach you and talk to you.

And that's essentially all the different ways of how you find off-market deals. You find the problems, you promote the solutions, and you automate the process. So if you want to crush this real estate investing business, keep listening to this show. Subscribe so you don't miss an episode. And if you want to go fast, go to r-e-i-a-a-a-a-com. All righty, God bless and to your success. I'm Matt Terrio. Live in the Dream.

Yeah, we got the cash flow. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. You didn't know home for us. We got the gas flow. The podcast is a part of the C-Suite Radio Network. For more top business podcasts, visit C-Sweet Radio.com