How to find the next deal ?

[REIaddicted]

Good afternoon everyone,

I completed my first deal about a month ago. I am excited to find my next deal... and to tell ya the truth... I am having withdrawls and need my REI fix! LOL

I have several investors I flip to but the market is slow here in MO. If you have any ideas on other avenues I can use, please let me know. I have a very limited cash flow but I am verrrry creative. ( lease opts, subject 2, ect.)

I have:
Put the word out to bird dogs
Passed out about 100 cards in the last week
mailed to NODS, lis pends, ect

mass mailed letters and postcards to : BK's, Divorces, Obits, Forclosures, Judgments, Criminal arrest over 5000, City notices

I have selected certian areas and mailed everyone in the zip area. Door hangers in the area as well.

Chose another neighborhood and did driveby's and sent letters to the owners of empty houses.

I have had 2 people that have properties, ask top $ and not motivated to negotiate. I can't make any $ on those!

What else can I try? I need my REI fix!!!

Addicted ( Lisa)

[Dan Auito]

Lisa it looks as though you have some blanket coverage going on at present, You might also attend some local investors meetings to start networking a little while also setting in place a good relationship or two with the creative real estate agents in town as well.

Don't forget to hand your bird-dog cards out to water, electric and cable guys who secure service connections and can alert you to vacancies or troubled properties as well.

So do more networking and organize, organize organize for the coming rush of new deals that eventually come your way from your current efforts, don't forget to investigate and cultivate lending relationships as that is an issue as well.

You might look for wealthy partners to infuse some needed cash, that means doctors, dentists and other high dollar white collar professionals who would be intersted in getting 15% on their money which is secured through real estate. Keep us posted on further developements as they appear.

Nice work! :thumbsup:

[REIaddicted]

Hi Dan and thanks for the reply.

I have looked for investor clubs here in Springfield, but so far I have had no luck finding them. I even looked on the web to locate. :(

Although I have been able to start several "friendships" with a couple realtors , morgage broker or 2 , my great title company. No bankers to date. I have also found a few " like minded" business people in town and we plan a get together with some of their contacts after the holiday.

I had forgotten to hand out the cards to the utilities people! Thanks :)

Funny you should state the wealthy partner thing. I have a list of license proffesionals in the area and have been sending out about 25 investor cards a day. A CPA did answer today and We had a nice chat. I am sending him a prospective investor packet I made up.

I also placed an add that comes out sunday on " buying property" .
I guess I have to sit back and go through the "shakes" as I wait for the nest deal.

My first deal was a sweeet deal. No $ down and walked away with a couple grand. I hope to get my feet wet with other types of creative deals :)

Thanks for the reply :)
Lisa

[Dan Auito]

Hi Dan and thanks for the reply.

I have looked for investor clubs here in Springfield, but so far I have had no luck finding them. I even looked on the web to locate. :(

Although I have been able to start several "friendships" with a couple realtors , morgage broker or 2 , my great title company. No bankers to date. I have also found a few " like minded" business people in town and we plan a get together with some of their contacts after the holiday.

I had forgotten to hand out the cards to the utilities people! Thanks :)

Funny you should state the wealthy partner thing. I have a list of license proffesionals in the area and have been sending out about 25 investor cards a day. A CPA did answer today and We had a nice chat. I am sending him a prospective investor packet I made up.

I also placed an add that comes out sunday on " buying property" .
I guess I have to sit back and go through the "shakes" as I wait for the nest deal.

My first deal was a sweeet deal. No $ down and walked away with a couple grand. I hope to get my feet wet with other types of creative deals :)

Thanks for the reply :)
Lisa

I'm sure you're going to be knee deep in deals when your efforts begin to bare fruit, sounds as though you've done everything except call your own investment meeting. Lisa "The hostess with the mostess invites you to attend a complimentary real estate seminar fri @7pm at Denny's. If no one shows just have some desert and head on out. Never know!

[REIaddicted]

Well, a little early.. and it isn't a done deal YET ! I had a call on a 3/2/2 pre forclosure. Behind $4000 and wants to walk, he owes $58,000. FMV is $79,000 ( with about $2500 in cosmetics to be done. ). giving the home owner $5000 to move with.

I have an investor I have submited the proposal to, so my fingers are crossed and waiting with baited breath!

As well, I have thought about the investor club thing. I talked with a couple people and we have decided to start our own, placing the add to see how many more people we can get to join us! :SM039:

Also, my son wrestles for HS. BIG BIG 2 day tourney coming up Mon and Tuesday. Peple from all over the state come for this. I have a pile of cards ready and waiting to go in to other parents hands :SM022:

No sense in sitting on the hard benches for 10 hrs when I can be mingling with thousands of other parents, from all walks of life! :xxrotflma

Now, If I can keep food out of the kids mouth, long enough to have him cut 2 lbs by 7:00 am !!!

TTL
Lisa