One of the questions that we get most often around the Rev N You office is “How do I find a great real estate investing deals?”
Often the question is followed by a lengthy explanation including comments like:
- >> I’ve searched on MLS for hours and there is never anything that cash flows,
- >> All the homes I’ve looked at seem to be overpriced,
- >> I’ve been focusing on For Sale By Owner deals but everyone seems to think their house is made of gold,
- >> I live in Toronto (or Vancouver) and there’s nothing here that I can afford.
My answer to every single person is usually the same … you aren’t going to find a great deal no matter where you are. You are going to have to create a deal. The first step to creating a great deal is to become a market area expert. You have to get off your computer and hit the streets to check things out, meet people, look at houses and find out what’s happening. That is the only way to truly become an expert.
Once you’ve got that part figured out (and yes, it takes work and it absolutely requires you to get out and put some miles on your car and your sneakers – there’s no getting around that if you’re serious about getting good deals done), the next step is to start looking for opportunities.
That’s what I’m talking about in today’s video – finding great real estate investing deals in any market:
Great real estate deals aren’t found – they are created. The key to finding great real estate investing deals, as discussed in the video, is to figure out what kind of solution you can offer that gets you a great deal and solves a problem for the seller.
Hopefully you caught the MASSIVE tip about how we saved $10,000 on a deal and all it cost us was about 30 minutes of our time.
By the way – isn’t the artwork behind me cool? It’s mostly done on a sewing machine with thread!! Janet Cameron on Salt Spring Island is the artist of all the pieces I’m standing in front of … very creative stuff.