Insider Tips on Winning Real Estate Deals

Hi everyone, welcome back to the channel. Have you ever wondered how top real estate investors snag the best deals before anybody else? Today I'm sharing insider tips that will give you an edge in winning real estate deals. I'm Joe Homs, your go-to real estate broker, mentor, and investor. On this channel, we help you navigate the real estate market and maximize your profits. If you're new here, consider subscribing and hit that bell icon so that you never miss an update. Now let's dive in. Let's talk about research and preparation. Understand your market. Probably one of the biggest and most important things is understanding where you are in flipping or buying and holding is your market. You can be in an A market, a B market, C, D, whatever it is that you're looking for, but you need to understand what that looks like. Are you going to flip a condo and put in high-end fixtures and stuff like that? Probably not a great idea. Home Depot will suffice. If you're going to be in a million-dollar neighborhood, then you need to be prepared to put in a lot more money into that type of flip. Knowing your market inside and out is the first step to winning estate deals. Team up with investor-friendly agents who understand your exit strategy. Speaking of investor-friendly agents, let's talk about PelleGo, P-E-L-L-E-G-O.com. There are in California over 300 agents up and down the state. They're all investor-friendly that you can work with. You just need to get onto that website and look up where they are and reach out to them. The next thing we need to do is build a strong network. Attend local meetups like our meetup in Irvine at Hangar 24 at 6 o'clock, and it runs from 6 to 9. Join online forums like BiggerPockets. I've met with over 300 investors in the last few years that reached out because I had made a comment on BiggerPockets forums. That's a great way to connect with people, especially the local ones. And be active in real estate groups to build valuable connections. The more people you know, the more opportunities you'll have. I get literally calls every day from people who have opportunities and they're just sending them to me to say, okay, are you interested in this type of deal? What do I do in this situation? How can I best structure this deal? How can I wholesale this deal? So knowing the people that are out there actually doing the work is a great way. Let's talk about finding deals. We have many videos on this subject. I'll link one at the end, but finding the deal, especially right now, can be tough. Here's what we use: PPL, texting, cold calling— tried and true methods to get deals. The biggest thing is that you have to actually start doing this stuff before you can even think about getting deals. So cold call, texting, just networking And you'll find the deals out there. Number 3, let's talk about evaluating deals. Once you find a potential deal, it's time to evaluate it. Run the numbers. If the numbers don't work, walk away. Check out peligo.com and use their calculator to find out if it works as a flip. It'll run you through everything that you need. Thorough property inspections are crucial. Look for red flags like structural issues, outdated systems, and potential code violations. A thorough inspection can save you thousands down the line. Number 4, negotiation strategies. Understanding the seller's motivation can give you the upper hand. Are they in a hurry? Do they need quick sale? Use this information to your advantage. Make your offer stand out. Be flexible with terms and consider offering quick closing or waiving contingencies. Sometimes a little creativity can go a long way in making your offer more attractive. Number 5, closing the deal. During the due diligence period, verify all information, get a title search, and ensure financing is in place. Due diligence is critical to avoid any surprises later on. Stay organized and proactive for a smooth closing. Double-check all documents and be prepared for last-minute issues. A smooth closing sets the stage for a successful investment. Winning real estate deals requires you know your market. Build your network, find and evaluate deals carefully, negotiate smartly, and ensure a smooth closing. If you found these tips helpful, give this video a thumbs up, subscribe for more insider advice, and share your own tips or questions in the comments below. I love to hear from you. Don't forget to subscribe and hit the bell icon So you'll never ever miss an update. Here's a video. Yeah. Here's a video about, here's a video about how we find leads right here. And make sure you subscribe.