There are more real estate deals out there than you can possibly buy.
Finding them just means getting creative. The most creative real estate entrepreneurs are the ones who get the best deals at the best prices. Those who stick to the tired and traditional methods are the ones who overpay and struggle to find good deals.
In this video, filmed at the Real Estate Investing Summit during the Titanium Mastermind in the Dominican Republic, John Lee suggests 3 creative ways to source real estate deals. They cost very little, can produce amazing results, and most of your competitors will not have even thought to try them.
1. GO TO THE SOURCE
You will sometimes see properties listed with 3 different realtors. This tells you something. It means that they are repeatedly getting realtors who are not selling their property or not doing a good job.
This is going to be frustrating. The property ownerr wants to get rid of their house and they want money now. If you can locate people like this, they will sell to you at a discount.
Understand that there are people out there who NEED (not want) to sell. Go directly to these people and cut out the middleman, and you will be able to buy discounted deals from them.
2. GET FREE ADVERTISING
Imagine that you had a car bumper sticker that read, SellYourHouseFast.com, or something similar. What kind of people do you think would respond to that ad and contact you?
People who want to sell their house fast, of course. These are the most qualified prospects you can get, because they are willing to sell at a discount and they don’t have the time to shop around for buyers.
All you need to do is ask a friend to put this sticker on their car. They’ll probably be willing to do it for a year for very little compensation.
John Lee had a student who stuck a similar ad onto the side of a London bus stop. Everyone told him that he’d never get cheap deals in central London, yet he made £141,000 from this ad.
3. HOW TO ADVERTISE IN NEWSPAPERS FOR NEXT TO NOTHING
Imagine you could place a full-page ad in a widely circulated newspaper, like the New York Times or USA Today.
It would definitely be seen, and you’ll get responses, but it would also be very expensive. John Lee is aware that the top British newspapers charge £16,500 per day for a full page.
Here’s a trick to bypass that hefty fee. Go up to a newspaper stand and buy their entire stock of newspapers. You may even be able to negotiate a discount. Then, drop a leaflet with your ad into each newspaper, then give them back to the newspaper stand operator to “sell again.”
Remember, it’s all about being creative. If you can be more creative than your competition, you’ll get better deals than them.
The MOBE Platinum Mastermind is where the most experienced mentors in investing and asset protection share their investment methods with fellow members. To learn more about the Platinum Mastermind, click HERE.