As an investor, you are only as effective as the local team behind you. Because even if you’re investing in a profitable market, without the right team, you won’t have access to the best deals.
In case you didn’t grab it, we shared a Find Your Market Quiz to help you decide the best markets to invest in based on your area and criteria.
Once you’ve solidified the right market, you’ll need to solidify a team. Here’s a list of three ways to get yours started:
1. Working With Investor Agents
This is at no cost to you because investor agents already have systems for finding deals. (The 3 examples we shared last week all came from investor agents).
The only “cost” is being ready to write an offer when they bring you a deal within your criteria. If you have proof of funds or a pre-approval letter, this will fast-track the process.
2. Get on Wholesaler Lists
A wholesaler isn’t an agent. Wholesalers go and find the sellers who want to sell a property lower than fair market value.
If you know a market well enough and don’t need the support of a local agent, you can easily get more deals in your inbox by getting on wholesaler lists.
A word of caution: There is more risk involved because deals come in with non-refundable money paid upfront and most don’t allow for financing or inspections.
3.Target Specific Property Owners in Specific Areas
Finally, you could also source your own deals. By far this is the most costly and time-consuming effort, but still, one to consider. You can start a “farm” where you target property owners in specific areas based on property type and size. You can target them with direct mailers, SMS marketing, cold calling, and door knocking. It may not be the best long-term strategy but it’s great for building momentum.
There isn’t a wrong or right answer for building your team. But it comes down to how risk-averse you are, how easily you want to source deals, and your experience as an investor.
Now tell me, which option for sourcing deals are you focusing on right now?
Write a 1, 2, or 3 in a comment below so I know how to support you!