How To Find Real Estate Deals

Are you ready to start your real estate journey but don't know where to find deals? Keep watching because I'll show you strategies for uncovering those hidden gems. From networking to utilizing online tools, I'll teach you how to become a savvy and successful real estate investor. Learn how to spot undervalued properties, navigate the wholesale process, and make smart and profitable investments. Don't miss out on your chance to make a fortune in real estate. Join me now to discover how to find the best real estate deal. Welcome back to the channel. I made this channel for the new and experienced investor, those of you who want to live the life you've always wanted through real estate. Make sure that you like and subscribe and share this video with your friends. Let me tell you one of my deals that happened about a year and a half ago. So I get a call out of the blue And this seller wants to sell their condo in Aliso Viejo, and I go over there with my son-in-law to take a look at the place. And what we walk into is basically a rehab gone wrong. And this was actually probably about two years ago now because it was right after COVID, and. The seller decided he was going to rehab his place. He had somebody go over there, they literally tore everything apart. They started to take things out, toilets and stuff like that, to the point where he couldn't live there anymore. So he moved out, then COVID hit, and he just sat on the property for 6 months. During that process, he stopped making his mortgage payment, so he was getting ready to be foreclosed on. So he was up to here with everything and he said, Joe, I don't want this property anymore. I said, okay, well, how much do you owe on this property? He says, well, I have a lender and we owe about $450,000 on the property. And I said, okay, well, how much do you want? He goes, Joe, I just want you to take it over. You can pay the $450,000 to the bank. And I'll be good. I said, okay, sign here on the dotted line, because I always try to bring my contracts out with me in those type of situations, because when they're ready to go, they're ready to go. So we go through the process, I'm getting ready to open up escrow, and I call him, I email him, I don't hear from him anymore, and he's Basically kind of ghosted me at that point. And so I finally get a hold of him and he says, well, I was talking to a real estate agent and they said I could get more for my property, so I'm going to list the property. And I said, oh, time out here. We have a contract together. I have clauses in my contract that I could get out of this deal. I don't build in clauses for the seller to get out of their deal. I said, you need to honor your deal. This is a contract. We need to move forward. He said no, and he ends up listing the property. I call the listing agent. I tell them, you know, here's a contract for this purchase of this property. You need to pull this off the MLS and, you know, talk some sense into your client. They refused to do that. And so then I had to take it to the next level. I hired an attorney, and the attorney— Filed the lawsuit. We filed a lis pendens, which is a cloud on the title. We documented that with the recorder's office, and so if they tried to sell it, that would pop up that there's a lawsuit in place. So after he found that out, then he called me, and long story short, we ended up negotiating the deal the way it was. This process took about 4 or 5 months to do. When I purchased a property, I figured that the after repair value was around $600,000 or so, and I was buying it for $450,000. I was probably going to put in around $50,000 or $60,000 into this deal. So I'd end up at the end of the day making $70,000, $80,000. This is when the market was going up, and remember, this took about 5 or 6 months to do. So as we're going along, the property values continue to go up. I finished, I put it back on the market, ended up selling that property for $850,000. One of, one of several good deals that I ended up getting into during the upturn in the market. So be aware of those type of deals and go out there. This deal found me, but there's deals like that that you can find and go after. Hope you're getting value out of these videos. All I ask in return is that you hit the Hit that like button. So here's some other ways to get some deals. You can do direct marketing, texting, cold calling. I don't do a lot of mailers because mailers, people just like grab them and throw them away. So they're expensive to do and I don't get the return that I do as far as cold calling or texting. Texting is something that I do now. You don't really kind of talk to the person, you send them texts, and then if they're interested, then you pick up the phone and talk to them. But that's a warmer lead than just literally cold calling people out of the blue. But all that's marketing, and just honestly, it depends on what you personally want to do. You can hire a virtual assistant to do your cold calling for you. So there's lots of ways to do marketing. Another way is networking for deals. So I hold an investor networking event once a month. Last month we ended up getting about, I'd say, 80 people that came by. And this is a perfect opportunity to talk to people that are being successful in what you want to do and networking with them and finding out, you know, what it is that you're doing, how you're doing it. Can I get involved? What do I need to do to get involved with you? You know, let me buy you lunch. Let me buy you a cup of coffee. Let's go talk. How difficult is it to do? Where did you get started? Those are the perfect avenues for networking. For me, I'm really just kind of broadcasting that I'm a flipper and I will buy properties from anybody in this room that has a property to sell, whether it's a wholesaler or somebody that, let's say, you know, Something happened to a loved one and they need to sell the property so that the heirs end up getting the money, a probate deal, anything like that. So wherever there's a deal out there, hopefully people know to give me a call. I'll take a look at it. If the numbers work out, I'll buy it from you. Lastly, you need to tell everybody, everybody what you're doing. Friends, family. I mean, to the point where you should make business cards basically saying, I'm a real estate investor, here's my number. When you meet somebody, if the conversation strikes up, you know, about real estate and, oh my God, look at the market, it's either going up or it's either going down or whatever, pull your card out and say, hey, yeah, look, this is what I do. You know, or sorry, your, you know, your relative passed away. What are you guys looking to do with the property? Well, we're gonna probably sell it. I go, you know, I, I'm an investor, I buy homes just like that. Do you mind if I come over and take a look at it before you go any further along this road? Maybe I'll give you a, you know, really good price that you're happy with. Then everybody walks away a winner in that type of deal. So that's what you need to do. Put the word of mouth out there that this is what you're doing. By following these few strategies, you'll be well underway to finding profitable real estate deals. If If you need help talking to sellers when you find your next deal, reach out to me or watch this video right here. Make sure that you book some time with me one-on-one. I'm always here to help.