Epic Real Estate Investing - How to Find Off Market Properties (10 Strategies + 1 Bonus Strategy) | 964

Episode Date: March 21, 2020

At Epic Real Estate we use our magic to make money without needing any money! Hence, our host, Matt Theriault reveals his wizardry that will help you to find off-market properties! More specifically you will learn 10 strategies (+ 1 bonus strategy) to find deeply discounted real estate. Tune in and find out more! 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.

Here's Matt. Hello, I'm Matt Terrio, CEO of Epic Real Estate, and I'm going to show you how to find off-market properties, just like I do and my clients do each and every day, and regardless of market conditions even. And then just stick around until the end, and what I'm going to do is I'll show you how we present our offers to the owners of these properties so that they happily sign our deeply discounted purchase agreements. And we make money without needing any money.

It's almost like magic. But first things first, we've got to find these off-market properties before we can make our discounted offer, right? Makes sense. And the operative word here is off-market. Well, I guess that's two words, but you understand what I'm saying. Meaning that these properties will not be on Zillow. They won't be in the classified ads.

They won't be on the multiple listing service. You won't even find them at auctions, as all of those really kind of are classified as on-market properties. So I'm not going to show you how to find those today. What I'm going to show you how to find are off-market properties, where the deeper discounts are. And to find them, what you're really looking for is a motivated seller, a seller with some sort of problem that either prevents them or deters them from selling their property on market. These sellers, they typically find themselves in situations where a traditional sale just won't cut it. So here goes.

And I'm going to do my best here to put them in reverse order of how well they work for us. So the last one is going to be our best one, all right? So number 10, garage and estate sales. By regularly combing the classified ads, both online and off, calling the garage sales and estate sales, and just keeping it really simple, saying something like, hey, I noticed that you were having a garage sale this weekend. Are you considering selling the house too?

Now, the strategy, it's good for a deal or two every year. And we'd probably get a lot more out of these if we called them more, or if we worked this strategy more. But we find enough off-market properties with these other methods that I'm about to share. All right. So number nine, magnetic car signs and apparel your clothing. And I've got a sign on each side of my car door that reads, I buy houses and that's got my phone number there. And when I go to work, I also wear a T-shirt that reads the same thing. I don't have it on today, but it took me a really long time to implement these into our marketing because I was really just,

I was too cool for it. But they make the phone ring and they generate conversations, good conversations. And we get between two to three deals per year doing this. So I'm over the looking cool. thing now. Nothing like an easy paycheck to get you out of your own way. All right. So that's number nine. Number eight, classified ads. So what I do is I regularly post ads in the classifieds, both online and off in the properties wanted section, the properties for sale section, and I post short little job ads for bird dogs. And working in the classifieds consistently, that results into a, I'd say a half dozen deals per year for us, at least. That's number eight. Number seven, for rents. Properties for rent. And what I'm doing here is I'm looking for frustrated

landlords and typically a vacant rental will lead to a frustrated landlord. So I've got a virtual assistant that Combs Property Management websites, they look at the rental inventory, then they conduct a title search on all of those available rentals that they find on the websites. And then what she'll do is she'll send a letter and a three-optional letter of intent to the owner of those rental properties. And we get a lot of seller finance deals doing it this way. And believe it or not, those letters of intent will come back to us in the mail actually

signed with the seller's signature before we were talked to the seller. You know, I showed my client Daniel how to do this, and he fired off this pick right here to me recently of a signed contract that he just got back in the mail. He didn't believe it would happen, but boom, there it is. That's number seven. Number six. The courthouse. The courthouse is one of our primary sources for finding motivated sellers. As most of the major problems that a property owner can experience, of which causes them to be motivated enough to sell at a discount, those types of problems are typically matters of public record.

You know, problems like evictions and code violations and bank. bankruptcy and divorce and tax delinquency and probate and weed debatement and sewer liens, problems like those. And it's from the courthouse where we pull most of our data from as it's available at the courthouse first. So it gives us a couple of week head start over the other investors in our markets. That's number six. Number five, bandit signs. Yeah, those ugly, yellow handwritten signs that you see at intersection. You see them everywhere. You see them at Home Depot. You see them in the parking lots of Walmart. They work. That's why you see them everywhere. Now, it doesn't generate a bunch of calls, not a high volume, but think about it.

Who in their right mind would call one of those signs? Nobody, except someone that really needs to sell. So those are high-quality phone calls. And when we're consistent with putting them up, they generate consistent deals. That's number five. Number four, driving for dollars. Now, this is a time-honored marketing strategy, a favorite of real estate investors. And it's very much what it sounds like.

while you're driving through neighborhoods, you're driving, you're looking for dollars. And those dollars, they don't look like dollars. This is what they look like. They look like boarded up houses. They look like houses covered with blue tarps. They look like overgrown lawns. They look like newspapers piled up in the driveways. They look like houses that are deteriorating. They look like empty houses. And then you see for sale by owner signs or for rent by owner signs, anything that would suggest that there's a potential problem happening there. You know, I've got my trusty driving for dollar app on my phone where it's really easy enough to just Stop by a property, take the picture, click a button, and a postcard with a picture of the house is sent directly to the owner asking them if they'd like to sell their house.

Really, really effective. Number three, internet marketing. Now, it took us a while to figure this one out. But once we got it dialed in, we figured out some really inexpensive ways to locate motivated sellers online. And this has matured into our number three way to finding off-market deals. I mean, this right here, this is quickly catching up to be one of our main sources for our off-market deals. deals. So that was number three. Number two, networking. At the end of the day, real estate, it's a people business. Every piece of real estate you buy or sell will be from or to another

person. Relationships, they are king. And if you have good relationships, you won't need much of these other strategies that I've mentioned. You know, relationships with realtors or other investors, wholesalers, attorneys, accountants, just about anybody that is directly or indirectly related to or comes in contact with property owners with problems can be a very fruitful relationship for you. So get out there, meet people, network. And for the best results, focus on giving before you expect to get. And relationships, they take time to build. So be patient because once they're in place, you can almost completely say goodbye to your marketing expenses altogether. There's a really great book about this called givers gain. And this invaluable advice that I'm giving you right now

wouldn't be complete if I didn't also mention how to win friends and influence people by Dale Carnegie. All righty? So you ready for number one? Direct mail. Believe it or not, in this day of high-tech everything, still, good old-fashioned direct mail is still the number one marketing strategy to finding off-market deals. As long as you pay attention to direct mail's five epic commandments. One, get delivered, two get notice, three get open, four get read, and five get action. If you obey those five commandments direct mail will always work for you. As long as people receive mail in their inbox or their mailbox that run out to the curb, it's always going to work. All right. So I've got a bonus for you. It's a big one. It's where close to 100% of our deals come from. Almost 100%. I know that sounds impossible

because I just mentioned all these others, but it's true. And that's the follow-up. You've heard the expression. The fortune is in the follow-up, right? Well, just because you've heard it and you probably heard it a lot doesn't make it any less true. You see the stats show that it's going to take somewhere between five to eight touches with the motivated seller before you actually strike a deal. So invest in your follow-up systems as much as you invest in any of these other strategies that I've shared with you. If you don't, you're going to be leaving boatloads of money on the table. Guaranteed.

So follow-up, follow-up, follow-up. That's where the off-market property deals really are. All righty? See you next time. Take care. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow.

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