How to 3X your off-market apartment deals

What's up guys? So today I want to walk you through how you can triple your off market apartment leads coming in within less than five days. Okay? So actual deals, assuming you're a real estate investor, you want to scale in buying apartments using syndications, using other people's money, using creative financing, whatever strategies that is for you. But you're a real estate investor and you want to increased lead flow and deal flow so you can start taking down more apartments and getting to a closing table quicker. If that's you, if you want to do that, I want to show you how to triple your leads in less than five days. Okay. Now this idea, and the reason I'm making this is because it actually, the idea came to me through an event that we actually do for clients and what we actually do ourselves as real estate investors. You know, we have as a leadership team, as a, as a whole in our business, we have over 100 million in assets under management and we wholeheartedly believe you need to be in apartments and scaling there. But this is how we find really good deals. It's one of the ways. And so I want to walk you through the three steps and it's also stimulated or stemmed from a 555 challenge that we're doing. So five deals and five investors in five days. Okay, so and when I say investors, I mean capital partners. So internally, if you want to know more about that, well, I'll drop a link or something down below and you can check that out. But basically we're walking our newer investors or investors that just have a few deals and want to like scale to bigger deals, walking them through how to find five good deals that you're submitting an offer on and get commitments from five capital partners and limited partners within five days. So technically the piece I'm walking you through right now is just for finding leads, finding off market apartments, which is only three days of the challenge. Right. So in three days, really I'm going to show you the exact step. So you ready? Get a pencil out, get a paper. Going to walk you through an overview of what we're diving into and what I would recommend for you. Okay? So as a new investor, step number one, create your buying box, your buying criteria, another word for it. Okay, so step number one, create your buy box. So in this again, depending on your experience, I typically work with people anywhere from, you know, no units, nothing at all, no experience in real estate, all the way to people, you know, that are scaling to, you know, six, you know, to 100 million plus. In AUM. Right. So we're helping people scale in any in that range. Okay. But as a newer investor, no contacts, no nothing, or a smaller investor that's just really wanting to go from small deal, single family stuff like that to apartments, first thing you need to develop your buying box. So you know, if you're brand new, I'd say set your range between, you know, 10 to 40 units or if you have a little bit of experience, maybe go 30 to 100 units. And of course, you know, this is all again dependent upon your exact situation. So typically if somebody's coming to me saying what should I do? I want to get on an actual call and get a little bit deeper in your situation and then make a strategy around that. Because some newer guys, but they have more time or you know, maybe even a little bit capital or maybe they just, yeah, whatever, like that. What's their level? I would advise them just go straight to, you know, bigger deals. So depends on the situation. But just choose one of those. Choose like what range you're going after. If you're unsure, just go 10 to 40 units. Okay. And then as far as geography, as far as location, some people ask me, you know, should I invest locally, should I invest out of state, should I invest wherever? Right. So there's, I'm just going to give you some questions to answer for yourself and help you make that decision. Okay. So in terms of location, I typically recommend pulling a list and we're about to talk about pulling a list of a hundred mile radius of yourself in terms of geography. Okay? So you're going to pull a list of properties that's within 100 mile radius of yourself. Now you say, well, I don't live in a good area, I don't really want to invest in my area. That's fine because that's the other question is are you wanting to move somewhere? Are you wanting to invest out of state? There's different advantages and disadvantages to investing out of state. And there's different advantages, disadvantages of investing locally. But typically for most people I'm going to try and recommend being as local as possible. And the further out you go, and here's just the reality, the further out of state you go, the further away from home you are, the bigger the deal needs to be because you're going to be needing to partner with boots on the ground. Right. Or maybe you don't want to bring another partner in and you just want to do a visit the property. Well, I would still recommend unless your situation is super unique and you just don't. You just have a ton of time and you don't need, you know, to factor that time cost in and that travel cost in you typically want. The further out you go, the more units, the more meat on the bones, right? Because you got to factor in your time cost of going and visiting the property, your travel cost of going and visiting the property, or factor in getting boots on the ground and a partner that's in that area that you can trust, but you're going to need to give that person just a 5 to 10% equity, right? So that's just some considerations to have. One advantage of investing from afar is you're forcing passivity, right? You're forcing yourself to create systems to manage the deal from afar. And we typically. I would strongly recommend you getting in with people who's done that before and getting around the correct systems for that. Because you. A deal can go sideways if you're not closely checking out property management, making sure that they're doing their job. And that's just a few critical systems that you want to set in place. It can still be pretty passive as long as you're spending, you know, your time wisely per week, you know, a few hours a week, okay? So that's step one, create your buy box. Know how many units we're going after, where we're going after it. Typically, I can do smaller deals if they're local, and I know my market much better if it's a local deal. I've got actual personal market knowledge from living in that area. And that goes a long, long ways. And as a smaller investor, that's really one of the biggest advantages you're going to have over the bigger institutional guys. Because anybody can pull the numbers of the market, right? Anybody can pull the metrics of population growth, population, you know, decrease, whatever that is. You know, anybody can pull the market, you know, the cap rates and people can pull, you know, data to show the big companies coming in, all this kind of stuff. But not everybody has actual, you know, area by area within a city, right? Sub markets within a market, knowledge in terms of, I know this area is up and coming, or I know this area, I can get a certain amount per room per month, whatever. So I would strongly recommend just taking that into consideration. But then step one, once you've created your buy box, and this is what we're going to walk people through, it's just simply getting in there, nailing that down, knowing what you're going after. Step number two, when it comes to actually pulling the Properties, alright. And getting off market leads. So it's understated in the name off market leads. It's not on market. Okay. We're trying to go direct to seller. We're not necessarily going after the on market stuff. Now we still work with brokers, we still have a lot of great relationships there. But as a newer investor you've got to really work the game. You've got to really get in there and network and use your network to get, you know, grow your network. You've got to like really play the system to be able to gain credibility. If you want to work with brokers and have them actually send you really good deals. Otherwise brokers are typically going to send you the deals that everyone's already passed on. And as much as you think, oh no, they're sending me something good, you know, you're typically as a newer investor, you've got to really be strategic about how you're going to be at the forefront of the best deals that brokers have. So that's why for the sake of time, in this video I just want to walk you through how to pull properties from a list. So then we're dialing sellers directly or we're using VAs to do that and we are bypassing the middleman. We're going direct to seller. So you find a good deal in this situation, it's your deal. Right? So how do we do that? And these are the same ways the brokers are doing that. Wholesalers are doing it. All these people so many ways and we talk about a lot. But here's the way I'm going to show you. All right, Pull a list of properties. 100 mile radius is typical. If you don't want to be in that area, that's fine. Go wherever it is 100 mile radius of that place. Pull a list of properties. If it has to be 200 miles, do 200 miles. Pull a list of properties using listsource.com or you can use costar use reality. But I would say the most, the cheapest way, most efficient is going to be listsource.com and then skip trace it in lead Sherpa. What is skip tracing? Skip tracing is just simply using a service on the Internet to scour the Internet and try and find you actual names and numbers behind that property and the LLC that owns that property. So one big thing about list source is you want to make sure you don't. You uncheck exclude corporate owned properties because in apartments and these size apartments, everything's corporate owned. There's very few that's actually owned under someone's name versus an llc. Okay. And lead Sherpa, you're going to upload that list of LLCs and properties and it's going to give you the name and number behind that or as many as it can. Of course, it's all public data, so it's not going to be completely accurate. For my LLCs, I've got an attorney that is, is our, what do you call it? Registered agent. Right. So it's a lot harder to find those types of things. So. But a few secrets there. Just make sure you're excluding, not excluding corporate owned. You know, costar is a great one reality, a really good one. And then you want to tweak it. It's an iterative process. So that's step number two, pull this skip trace. If you want more information on that, just let us know. I think we have more videos that talk directly about like step by step processes on how to pull this and skip trace. But last step number three, upload into a dialer. Okay. So you're going to take your now skip trace list and you're going to either just open it up and start hammering, start calling or you're going to hire a va, a virtual assistant. We typically pay virtual assistants four or five bucks an hour out of the Philippines to just cold call apartment owners. In fact, recently we took down a 16 unit deal that was, you know, of course that's a little bit smaller than what we would normally like. But like I said, it was in our backyard. Right. It was nearby. So we have. So that's a really good deal. Right? I mean it's in our backyard. It's fine to take down something a little smaller. But the other reason was this, this thing was just a killer deal. It's 95% seller financed. So in other words, I think it was around $800,000 acquisition, so about $40,000 down to purchase 16 units and then 95% seller finance. So that deal was found through a VA cold caller that we were paying four or five bucks an hour. So that's a really strong way to leverage your time if you're somebody who doesn't have a lot of time. So I would strongly recommend using that. We also have like a VA recruiting arm if you want to check that out. I'll just drop one link you can check out. And if you want to talk to somebody, they can kind of point you in the right direction if it's something that would help you. But other than that, yeah, step three is just simply upload into a dialer. We use ready mode because the cool thing about that is you can upload a bunch of numbers and then upload a cold calling script and the VA can just go in there and click dial and it'll pull up a cold calling, a script for every single person and just boom, boom, boom, boom, boom. So I hope that helps. If you want to know more about that 555 challenge I was telling you about. Five deals and five investors in five days. Five off market deals that are good, not just, not just, you know, crappy leads and five capital partners that commit to your investing journey, to being a part of your next deal. Or maybe you got a deal underway right now, all within five days. Okay, you want to take the challenge, click the link below. Love to see you on there. Otherwise, I hope this was helpful. Hope this kind of gave you an idea of where to start. And then I believe we have several videos on the YouTube channel that go a lot deeper into this. All right, God bless.