There’s no denying that everyone is talking about a market crash. If that’s the case…where are these epic deals you might be wondering? Deals are happening all around you, but you won’t be part of them if you don’t get good at discovering opportunities.
Epic deals never get advertised until AFTER they close, that’s because deals are created by a buyer and seller negotiating, not by a Realtor or Wholesaler running an ad. Therefore, if you are only focused on that which is “For Sale” it’s likely the real opportunities will be missed because of misguided focus.
How to get focused:
What if you chose to ignore what’s “For Sale” in favor of finding problems to solve instead? The likely outcome would be that you would find it much easier to negotiate with sellers that have true motivation beyond just price. It’s a motivated seller that will be more likely to consider seller financing provided that the terms offer a practical solution to whatever issue they may be facing. An example of this would be if a seller had a problem that required say…$25,000 to solve, yet their home was worth $125,000. You could provide them the $25k and give them payments on the remaining balance over time. They have a quick and easy $25k and you don’t have to make a mortgage broker rich in closing fees.
It comes as no surprise that gaining the attention of a motivated seller is a huge challenge in today’s busy world. Although it may be challenging its most certainly in reach of anyone who is known for being a problem solver. Many years ago I came up with two nicknames for myself, one was “Cashflow Guy” the other was “Real Estate Problem Solver” As you might imagine, the latter brought better quality seller leads to my front door which allowed me to build my portfolio more effectively than most people I knew. Cash Flow Guy attracted those looking for funding for their deals which was NOT what I was hoping for.
You see, because I focused on solving problems, I was solution-oriented which attracted people to me who felt I might be able to help them. When you get sick, you don’t go to an appliance salesman for a checkup…you go to a Doctor because he or she can most likely provide a diagnosis and hopefully a cure to whatever ails you.
Even if you are on day one as a Real Estate Problem Solver I am willing to bet that you know people that can help you solve problems. The more people you meet that can help solve problems, the more tools you have in your toolbox!