These comments, from investors and wholesalers all over the country, are things we hear all the time.
The reason we hear these same comments so often is because of how we've all been conditioned to think of real estate.
Whether we realize it or not, we've all been conditioned to think of real estate as a commodity, as easily tradable as coffee, corn or cotton.
Just like these commodities are bought and sold on exchanges, so too have we been conditioned to buy and sell real estate on "exchanges."
Think about this for a moment. Our first experience with real estate usually happens when we buy our first house or find our first apartment.
So, later, when we're looking for our first investment real estate deals, what do we do?
Well, because of our conditioning, we have the tendency to default back to using the same "exchanges" we used to buy our homes.
In other words, we default back to using what we know and what we know are the "exchanges" - the MLS's, Loopnet.com's, Realtor.com's, RealtyTrac's, Zillow.com's, Trulia.com's and many others.
Problem is, while these exchanges can be useful to buy our actual homes, they fall very far short of the kind of tools we need to effectively find good investments and deals that make sense.
It's not tough to understand why: the listing agents are working to get the best price for the seller, not you.
The very purpose of MLS is to reach a wider audience with a scarce asset. What happens when you have limited supply and high demand? You know, the price goes up.
Nevertheless, just like the comments you read above, when it comes to finding investment real estate deals, we all start on MLS.
We get excited reading broker's descriptions of properties being "cash cows!" with "20% cash on cash returns!"
But soon, our excitement turns to frustration.
We realize there's nothing "cash" about these properties, they're just cows.
We run the numbers only to find the broker calculated the CAP rate or the cash on cash return incorrectly.
And, if you're a wholesaler, your buyers start demanding you "bring me something that's not on MLS."
Then a new kind of uncertainty creeps in: "How the hell do I do that?"
How are you supposed to find deals that are totally private, available only to you? How are you supposed to find the coveted off market deals everyone wants?
Figuring this out feels incredibly daunting, so you head to the internet forums for help:
BiggerPockets forums are the go-to resource for many of us when it comes to learning pretty much anything about real estate investing.
There's no question that BiggerPockets is amazing, but there are over 2,000 results when you search for “How to find off market deals?” (link: take a peek).
You know the folks in the forums are just trying to help, but their suggestions and ideas often leave us with more questions than answers.
Despite all our lingering questions, despite the thousands of thoughts and opinions, we still want to try everything, we still want to take action, we still want to get results.
So we start executing.
But by doing so, we begin creating a dangerous trap for ourselves.
The trap is we start executing on all these deal-finding tactics randomly.
Most investors tend to run around like headless chickens from MLS sites, to sending direct mail, to Linkedin groups, to BiggerPockets forums and to REIA meetings with no clear direction, no strategic plan and no roadmap for success.
This "strategy" is like a developer ordering lumber, bricks, mortar, some
windows, nails and screws, dumping them on-site and telling his crew “Ok, build
me a shopping center!” all without blueprints.
It won't work.
As the old adage says, “Failing to Plan is Planning to Fail.”
So it's no wonder all this randomness contributes to one scary but very true statistic:
But it's not your fault.
Truth is, there are tons of courses, knowledge and tools on how to buy and finance investment real estate.
But there’s very little on how to consistently market to find the deals you want to buy or wholesale in the first place.
You want your
phone ringing incessantly with opportunities.
The more opportunities you see, the more good deals that make sense you can choose from. The more good deals you can choose from, the more wealth you can build.
The more wealth you can build…well, the faster you’ll be able to have the quality of life you set out to achieve in the first place.
So, what if you had a clear, proven strategic plan built for
you, and a simple roadmap for you to execute the plan to get consistent
opportunities and deals?
What if you could ignore all the random deal-finding tools, the thousands of opinions on tactics, and throw away all confusion & wheel spinning to just focus on ONE PLAN that you know works?
Well, we built Off Market Formula (we call it OMF for short) to help make all this reality.
You’ve heard it before: “Failing to Plan is Planning to Fail.” Part 1 of OMF is dedicated to getting you in the right mindset and helping you form a concrete strategic plan to get the best off market opportunities.
New or seasoned, almost ALL investors make this one common mistake that totally derails their ability to find off market deals directly from sellers. We'll show you how to recognize it and completely avoid it.
Finding off market deals requires a very different mindset than most investors and wholesalers have. We'll share this mentality with you, and show you how to adopt it.
Huh? That's right. Anyone who thinks they're ONLY in the real estate business or ONLY in the marketing business has missed one of the most critical steps to finding quality off market deals.
According to Facebook Insights, there are over 30,000,000 folks in the US who consider themselves real estate investors. Whoa. We'll show you how to differentiate yourself from the herd in all your thoughts, words and actions.
We'll walk you through creating a strategic plan that's Realistic (you can achieve it), Actionable (you know how to do it) and Adaptable (you can adjust it to changing situations).
You know planning is useless without execution. Part 2 gives you the steps, tools and resources you need to put your strategic plan into action and get your phone ringing with opportunities.
You might already know which markets make sense to buy in overall, but do you know the most profitable sections of those markets down to the street? We'll show you how to find them.
We'll show you how to recognize them and use them to your advantage to get the best deals available.
Anyone can go to ListSource, ProspectNow, InfoUSA or any other number of vendors to buy lists of property owners. That'll get you quantity when you really want quality. We'll show you how to build lists of quality owners ready to sell.
OFF30X is designed to quickly accelerate your results. The program shows you exactly which marketing activities you should be doing, how to do them, exactly when and exactly how often. Consider it your complete marketing playbook. Repeat the OFF30X program monthly to get the best results.
We've curated a powerful list of free resources and tools, from digital phone systems and tracking tools, to automation processes and outsourcing platforms, all with how-to tutorials on setting them each up.
We've made sure to include all the materials and resources you need to be successful, keep yourself accountable and stay consistent.
What kind of people would we be if we didn’t go above and beyond for you?!
This lesson will show you how to spot the difference between time-wasting owners who are kicking the tires on what their building might be worth, and truly motivated sellers who are ready to make a deal. We give you talk tracks, scripts and questions to uncover and confirm the seller's true motivations.
Facebook is an incredibly powerful tool. Almost 30% of the entire world’s population uses Facebook every month. The sellers you want to reach are on there, but how do you reach them? This lesson covers how to use Facebook Advertising, from creating your Facebook Business Page, to building Custom and Saved Audiences and creating ads.
Let’s face it, if you don’t have a website you'll risk losing credibility with your prospects. This is your business and you need a website, but they don't need to be expensive, take weeks to build, or take a ton of effort to design yourself. This lesson shows you a little known tool to quickly get yourself a personal website, completely free.
We've tested OMF with a group of investors and deals hunters. Results will of course vary depending on your market, asset type and consistency.
Here's what they have to say:
OMF is the only solution out there that gives you a systematic, step-by-step approach to getting consistent off market opportunities, but the truth is it wouldn’t work without you to work it. The system requires work, plain and simple. It’s our job to help and guide you, but the results are up to your persistence, drive and dedication. The system works if you work it.
OMF is designed to help you find off market multifamily buildings with at least 2 units. However, the principles, tools and tactics included could well be applied to finding off market single family homes and commercial properties like office, retail and industrial buildings.
OMF is not a digital subscription service or multiple listings service (MLS) where you have to pay monthly to view property listings or get “super secret” information. OMF is an online, self-paced HD video course. You'll get instant access to the entire OMF system and you'll always be able to access your material via the private OMF site. We also include supplementary materials, including templates, scripts, worksheets and other resources. One important thing: Don't worry about falling behind. You have lifetime access to this material, so if you need to take a break, that's no problem — you can resume the material any time you want.
Try Off Market Formula for a full 30 days and if you don't love it, if it doesn't give you the mindset, knowledge, tools and tactics to find more off market opportunities than you've ever done before, then we insist you get 100% of your money back. We'll even eat the credit-card processing fees.
Off Market Formula will be available soon, but NOT to the general public. We'll be launching only to a private group of 100 individuals who register for early access now.
Registration closes in:
Registration is FREE, and as a thank you for your early registration, you'll also receive 50% off OMF's regular price of $297 when we launch (that means you get OMF for just $148).
You know how competitive it is out there. Any advantage you can have over the competition is priceless.
When we launch, you'll get 30 minutes of special, direct access to OMF's creator to answer any questions you have about OMF or real estate marketing.