Deals from the Desk
Today I have secured two more deals with conditional agreements - sight unseen, more than 3hrs drive away, cashflow positive, below market valuation and all from my desk, so I thought I would share with you how & why I have done this.
Securing Deals from the Desk is an important part of Real Estate Investing in this day-and-age. Don't get me wrong - getting out to the open homes, driving the streets to learn the areas and talking with agents, valuers, property managers and other experts face-to-face is still very important.
You can learn a lot about the properties you are considering purchasing with the use of an internet connection and a telephone. It is all about being able to build rapport, give and receive trust and asking the right questions.
How do I secure Deals from the Desk?
I am continually scanning Real Estate websites such as www.realestate.co.nz, www.trademe.co.nz, www.greendoor-realestate.co.nz , www.homesell.co.nz and ofcourse the Real Estate agent's compaines sites. eg. www.harcourts.co.nz, www.bayleys.co.nz. More often than not, you can search using a very specific criteria.
I search for keywords such as "Motivated" "Home and Income" "Discount". I have a much better success rate finding deals using these keywords as opposed to the traditional ones like "Lower Hutt" "Taupo" "Mt Albert".
Once I find a few properties that I think \ have a better than average chance of stacking up (don't bother with the ones that have little or no chance of working for you). I put ALL my deals through RevIQ. RevIQ is property financial analysis software that is a MUST for any serious investor. I will then send the agent or vendor a brief email stating that I am interested to learn more about the property.
After 12-24 hours I call the agent and immediately being building rapport with them. I explain to them who I am, what I do and why I think this property could work for me (unless its a quirky deal and I am going to do something with it that not even the agent has thought of).
This conversation gives me a chance to extract some more information about the deal such as "How long has this property been on the market" "Is there anything you think I should know about this property" "Have there been any offers so far"
After a few of these conversations with different agents (only use one agent and one agency when buying!) I am then in the position to make an offer on a few of the original hand-full of properties. I make the offers by fax and wait for the agent to have them signed/counter-signed and faxed back to me.
Why do I do Deals from the Desk?
I do Deals from the Desk because it allows me to leverage my time. I can look at, analyse and make decisions on literally hundereds of properties each week. Although I may only offer on about 5, this is much better than waiting for a open homes on Sunday, looking through 5 open homes and offering on 1 or 2.
Again, don't get me wrong - I do go to open homes (occassionally) to look for ideas, gauge interest in the properties and meet new agents.
Doing Deals from the Desk allows me to do other things I enjoy doing at the same time, such as developing a new business to help young gratuates have a better chance of securing a job, worki on my website marketing, blogging here :) all while playing the property game full out!
Should you do Deals from the Desk?
Absolutley you should, as long as you know the areas that you're looking for property in, you have good time-management skills and you are still committed to getting out and looking at the deals aswell.
Have an incredible week!
Securing Deals from the Desk is an important part of Real Estate Investing in this day-and-age. Don't get me wrong - getting out to the open homes, driving the streets to learn the areas and talking with agents, valuers, property managers and other experts face-to-face is still very important.
You can learn a lot about the properties you are considering purchasing with the use of an internet connection and a telephone. It is all about being able to build rapport, give and receive trust and asking the right questions.
How do I secure Deals from the Desk?
I am continually scanning Real Estate websites such as www.realestate.co.nz, www.trademe.co.nz, www.greendoor-realestate.co.nz , www.homesell.co.nz and ofcourse the Real Estate agent's compaines sites. eg. www.harcourts.co.nz, www.bayleys.co.nz. More often than not, you can search using a very specific criteria.
I search for keywords such as "Motivated" "Home and Income" "Discount". I have a much better success rate finding deals using these keywords as opposed to the traditional ones like "Lower Hutt" "Taupo" "Mt Albert".
Once I find a few properties that I think \ have a better than average chance of stacking up (don't bother with the ones that have little or no chance of working for you). I put ALL my deals through RevIQ. RevIQ is property financial analysis software that is a MUST for any serious investor. I will then send the agent or vendor a brief email stating that I am interested to learn more about the property.
After 12-24 hours I call the agent and immediately being building rapport with them. I explain to them who I am, what I do and why I think this property could work for me (unless its a quirky deal and I am going to do something with it that not even the agent has thought of).
This conversation gives me a chance to extract some more information about the deal such as "How long has this property been on the market" "Is there anything you think I should know about this property" "Have there been any offers so far"
After a few of these conversations with different agents (only use one agent and one agency when buying!) I am then in the position to make an offer on a few of the original hand-full of properties. I make the offers by fax and wait for the agent to have them signed/counter-signed and faxed back to me.
Why do I do Deals from the Desk?
I do Deals from the Desk because it allows me to leverage my time. I can look at, analyse and make decisions on literally hundereds of properties each week. Although I may only offer on about 5, this is much better than waiting for a open homes on Sunday, looking through 5 open homes and offering on 1 or 2.
Again, don't get me wrong - I do go to open homes (occassionally) to look for ideas, gauge interest in the properties and meet new agents.
Doing Deals from the Desk allows me to do other things I enjoy doing at the same time, such as developing a new business to help young gratuates have a better chance of securing a job, worki on my website marketing, blogging here :) all while playing the property game full out!
Should you do Deals from the Desk?
Absolutley you should, as long as you know the areas that you're looking for property in, you have good time-management skills and you are still committed to getting out and looking at the deals aswell.
Have an incredible week!
posted by Adam Baird at 8:39 PM
0 Comments:
Post a Comment
<< Home