How Do I Find Real Estate Deals? (part 1)

Interestingly enough... many of my deals find me. Now that's not to say I don't "market" for properties because I do but I'll save that for another post.

One of my best deals thus far this year was referred to me by an attorney. This was an estate sale and the folks were facing a large and growing tax liability for unpaid taxes and a pending tax lien foreclosure.

Now in full disclosure, the lady called looking to see if I could handle an auction for her and her husband to move the property quickly. But upon explaining what an auction can and can't do, the lady said, "I just want it sold so I can pay the taxes before I loose the property to foreclosure".

The magic words! "I want it sold".

So in keeping with the theme of "Deals" finding me;

the sister-in-law of the contractor I use is a licensed agent of a good local real estate firm. Once she realized that I was in the market actively buying, she sends me really interesting properties she finds while researching properties and doing "comps" for her clients. You can find out more about Paula here; just don't steal all my leads. She sends me so many interesting properties, I could never keep up if I tried.

Speaking of my contractor. He has a fella that works for him that has a home where his parents passed away not long ago. The contractor called and said, "Hey Don, I've got an interesting one, let's go look at it". I'm not going to go into the details of this property in these post, as it's not likely to pan out but I may use it as an example of why deals don't make sense in a later post.

My point here is that once it starts clicking for folks that you are actively buying they will start sending business your way.

Keep in mind, they are not doing it, as a rule, out of the kindness of their heart; they have business' to run also and if your goal of buying properties for long term wealth creation, fits their need to get a property sold fast, then you need to be there help them!

I'll get to more ways to find deals in a later post.

The Road to Wealth begins here! Don