6 MORE FREE, Offline Ways to Find Killer Deals

 

In this competitive real estate investing market, I know no one is going to turn down some FREE methods to help them find deals, so I’m going to continue with my previous topic.

I gave you 7 free, offline methods to help find deals and I’m now giving you 6 more…

6 MORE Free, Offline Methods

1. Attorneys
Probate, General Practice, Real Estate and Divorce attorneys all have clients who are going through divorce, bankruptcy, etc. They know of properties that are off the market with little to NO competition.

2. Mortgage Brokers and Banks
They are in real estate full time as lender and regularly get leads from sellers who are looking to refinance, but can’t because they have bad credit.

Brokers can make a marketing fee for introducing you to their lead, so it’s a win-win situation for everyone.

Mortgage Broker Case Study:
100 US Grant Street
Purchase Price: $300,000
Renovations: $100,000
Private Money: $400,000
ARV: $1,100,000 (10% cap rate)
Net Profit: $600,000 equity
PLUS $130,000/year gross cash flow
OR $75,000/year net after expenses

  • Purchased in December 2014 – I was going to use this as a commercial space but now I am in the process of totally repositioning it into a Senior Living/Assisted Living facility
  • I received this lead through a mortgage broker referral who knew I had the cash to close

3. Land Bank
Communities like Cleveland, Ohio or other rust belt cities have properties that are abandoned. Some counties set up a land bank which takes over these abandoned properties and sells them to investors for a very low cost.

The properties are owned by someone or a bank and are donated to a land bank who receive the properties for free. The land bank usually allocates about $7-10k to demo properties, so they try to sell some of them since they don’t have enough money to demolish them all.

Did You Know: There are 197 land banks in the United States

Land Bank Case Study:
Jack Petrick – Coaching Student & Maverick Mastermind Member uses a land bank to obtain several of his rental properties around the Cleveland, Ohio area.

  • 4615 Burleigh, Garfield Heights Ohio
    • Paid $5k, Rehab $25,000, Rents for $900/month Section 8
  • 5610 South Blvd, Maple Heights Ohio
    • Paid $4k, Rehab $25,000, Rents for $900/month Section 8
  • 19205 Longview, Maple Heights Ohio
    • Paid $4k, Rehab $25,000, Rents for $900/month Section 8
  • 5082 Thomas St., Maple Heights Ohio
    • Paid $4k, Rehab $25,000, Rents for $900/month Section 8

That’s 4 properties from the land bank for less than $20k total!

These properties are not in a war zone, they are just in a landlord community where rentals are more popular.

4. Code Violations
Each city has a building department that keeps a running list of buildings with code violations. The list should be public record, so you can call your city building department and see if they will share it with you. These properties could have anything from simple violations to major ones, like fire damage.

5. Past Sellers/Past Clients
Once a deal closes, the seller’s opinion of you will never be higher. Make sure to ask them to keep you in mind for referrals or introductions in the future.

You should also be sending a monthly newsletter (physical and email) to make sure that you are keeping your name at the tip of people’s tongues when real estate comes up in conversation.

6. Hedge Funds/Wholesalers with Tapes
Google and search “Homes for sale in (insert your city here)” or “Real estate investing in (insert your city here).” Many hedge funds or wholesalers that come into certain markets and started buying properties are now liquidating some of them. If you talk to other real estate investors or agents in your area, ask them if there are any hedge funds or private equity funds in your market.

There are wholesalers who buy properties in “tapes”, which is around 20-40 properties at a time. They usually only want to keep a few for themselves and they will wholesale off the rest.

What you really need to think about here is that all of these strategies are FREE. They cost you nothing, so why aren’t you using them?

Pleasant Drive Case Study

Our head coach at SREC, Kyle Garifo, started his real estate investing career by quitting his Clinical Therapist job on a Tuesday and putting in an offer on his first property the following Monday. He applied for our one on one coaching program and has been steadily growing his business ever since.

Now he’s right back to where he started – but on the other side of things! Our coaches are not retired real estate investors who have no idea what’s happening in the market today. They are all running their own businesses and really know how to help you find your pain points and what you need to streamline and automate your business to be successful and profitable.

Let’s walk through a deal that Kyle recently completed in McHenry, Illinois…

1706 Pleasant Drive, McHenry Illinois
Purchased: $45,000
Renovations: $23,500
Private Money: $74,000
Sold For: $111,000
Total Net Profit: $24,000

The Fastest Way to Make a Million

Do you want to be able to rake in a profit check for $24,000 as your monthly income? Can you imagine if you did two or three deals like that a month?!

How would that affect your life? What could that do for your family? Can you imagine living the dream lifestyle you have always wanted?

If you need help installing the systems and processes that Kyle and I use in our daily business, we can help. Register now for this free web class to learn exactly how we run our successful real estate investing businesses.

It’s guaranteed to be a game changer and give you that boost you’ve been looking for.

Be Daring,
Josh

CEO Strategic Real Estate Coach

CEO Freeland Ventures and Freeland Lending

CEO Yellow Jacket Properties

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