1. Hard Money Lenders
Today I want to talk about how to find deals. A lot of people out there are telling you to do bandit signs, craigslist ads, to drive and network- and all of those things work. But there are several other ways to go about this that many people aren’t doing. It’s mainly networking and doing things like going out and meeting people like hard money lenders. Like I said before, look at their deals because they have investment property.
2. Banks
Also, go to the banks. Now, I’m not talking about Wells Fargo, or Citi, or any of those large big box banks, I’m talking about your local neighborhood banks. They loan money to individuals in the community and there’s an asset manager there. So go there, talk to the asset manager, and tell them about yourself- say “I’m a real estate investor, I’m buying property, and I can help you move these assets off your books very quickly. I use cash.” You don’t have to approach him for a loan, so don’t feel like you have to borrow money. Go there as a solution to their problems, because you’re going to help that asset manager out. So go to banks and go to hard money lenders.
3. Referrals
You can also get leads through referrals. Tell everyone about what you do. Go to everyone on your facebook, linked in, or whatever, and let them know that you buy property. I don’t know how many people have called me who I’ve been friends with for years who still don’t get that I invest in real estate. Well now that I’ve clearly described what I do and how I do it, I constantly get calls like “my neighbor has a property that they’re looking to sell. They’re moving, it’s been on the market for 60, 90, or 180 days and they can’t sell it. Would you mind going over there?” Yeah, I’ll go over and look at it. Now I’m a source for these people to get out of their problem.
So do different things. You can do all the standard items that you find on the internet- Craigslist, bandit signs, REI groups, but also think of other resources to help you drive your business. Think of your business as a wheel and you have to have several spokes coming in from lead sources to buy deals .
So start there, and think outside of the box. That’s the only way your business is going to grow.
