Presented by Alan David Kosinski for Real Estate Investors Thunder (REIThunder.com)
- You don’t find a good deal – you ‘make’ a good deal.
- It’s easy to ‘Find’ property leads.
- It’s more work to ‘Qualify’ properties as potential investment quality leads.
- It’s even more work to ‘Research’ properties & owners to:
- See how you can help them with their situation, and;
- See how you can present a win-win solution where both they, and you, are satisfied.
How to Find Investment Property Leads
The Mindset: You have to do what most others don’t do to get what most others don’t have.
- Make the time to devote to the process.
Get out from in front of the television, stop Facebooking and tweeting, stop doing those so called ‘relaxing’ things like gaming, stop watching those endless lists of videos on YouTube (including real estate investing junk). Instead of watching videos about making money in real estate – Start doing it!
- Get over your fears about talking to people.
Many so-called real estate Gurus tout programs that ‘can easily be done online’ with ‘no contacting people, no meeting people, and no pressures to talk to anyone at all. They sell lots of courses catering to one of the biggest fears people have – talking to strangers. The bottom line is you are going to have to step up and communicate to win.
- Get past the fact that you are going to make lots of money.
Another thing that stops new investors is that they are actually afraid to become wealthy – they are afraid of making money. Stop – Don’t Take This Lightly…If you’ve been ‘trying’ to make money and haven’t, you’re probably a person in this category. You must delve deep inside and realize this – then overcome the fear. Set financial goals.
- Motivated Sellers are the key to success.
Seek out and become aware of distressed situations concerning properties or the people who own or control real estate. The purpose is to help them by relieving them of the stress and pain of the situation. Think win-win: Make them happy by solving their problem. Make yourself happy by using the real estate to increase your wealth.
- When do opportunities present themselves to you?
Reality is that, in any given day, real estate investment properties show up right in front of you. You continually miss money that is being thrown at your feet…because it is camouflaged by its surroundings. Learn to see through the surroundings – and win!
- And finally, take action and be persistent.
All the preparation in the world to do anything will never have a chance to happen until you take action. Then, when you have a set-back, you must take action again! And again. Between each re-start, learn from what stopped you and begin immediately to start again – waiting until you feel better or need to recover is only an excuse. No Excuses.
- Open your ears and eyes, everywhere you are, listen to the people around you and train your mind to pick up on any conversation that includes word such as: real estate; probate; divorce; death; family problems; neighborhood issues; tenant troubles; foreclosure; and an endless list of similar words.
- Talk everyone you know or meet what you do and give them your business cards (two). Talk to family, friends, co-workers, and strangers – even neighborhood adults & kids.
- Seek out professionals for referrals: agents, lawyers, lenders, tradespeople, etc.
you walk, ride, or drive become aware of properties that don’t seem right.
- Take a different way home each time and become aware of possibilities.
- What to look for in a drive-by.
one or more other techniques:
- Foreclosures/tracking pre-foreclosures – Notice of Default (NOD)
- Probate – Estate settlement/obituaries/referrals
- Divorces and other family matters
- Business partnership breakups
- Bird-dogs (such as postal workers, utility workers, and newspaper deliverers)
- Advertising in print and/or online (you seek & read, or you place ads)
- Flyers, letters of introduction, Introduction cards, etc. (Maybe Postcards????)
- Become a real estate agent
- My students receive over 120 more techniques
When you become aware of any possible property, you must take IMMEDIATE action.
Here You Go!
- Download the Property Information Form: (ALKO-WIN.com > Education > Form 701) Use this form to write down details of each property that you find along your way.
- Do as much research as you can to fill in the form. Most information is available online at the Municipal Records office, specifically the Assessor’s office of the city/town/county where the property is located.
- Either send us the filled-in Form 701 and we’ll take it from there, and if/when we make any money on the property, you will receive a ‘Birddog Finder’s Fee’ of 10% or $2000, whichever is lower… or you can continue with step 4.
- Sign up with us to become a ‘Birddog Associate’ and use form 701A to complete the Property’s Title research at the county’s Registrar of Deeds office (Sometimes available online).
REIThunder.com (Real Estate Investors Thunder Meeting)
ALKO-WIN.com (ALKO Wealth Improvement Network)
AlanDavidKosinski.com (Alan’s personal website)