Attention Property Managers – This is a great article to share with your owners!
When I was buying properties and growing my portfolio, I kept asking myself “what’s next?”.
During the housing crash of 2008, when there were hundreds of foreclosures on the market, all I could think of is which one is going to be the next addition to my portfolio?!
Of course, back then it was a buyer’s market and almost any reasonable offer was accepted.
Fast forward to today’s market and the realities of a seller’s market is putting pressure on real estate investors. The last dozen properties I looked at in our area, that are listed on MLS, already had an accepted offer and a backup in place by the time I found them (can anybody else smell the new bubble?).
With such a huge pent-up demand for properties and the inability to purchase them for reasonable prices off the MLS, not to mention the fact that many realtors are no longer hungry and are barely willing to work for their paycheck, there has to be a better approach.
The answer: Buy properties before they even get listed!
Have you always wondered why so many investors rely on the MLS? By the time a property is listed on there, there are a dozen investors already salivating over the property. You can easily one-up your competition by purchasing these homes before anybody else even knows they exist and buy them before they get on the MLS.
I already knew this strategy worked but it generally takes a lot of word of mouth, classified ads, and bulletin boards to even get a few leads. This generally means that only the super well-connected are able to take advantage of this strategy.
So check this out – I was talking about kids and vacations with my buddy Trevor the other day, and the conversation circled around to our shared interest in real estate. I knew he has been very successful and asked him what he’s been up to lately. Turns out Trevor had a new answer to helping me find more investment leads!
Trevor created a really cool application called Investor Carrot that does all the work for investors in finding new off-market properties. The software package creates a website, markets the website, and finds motivated sellers in your town. With this software you don’t need word-of-mouth or to be super well connected because it uses the power of Google to drive interested sellers right to you.
Trevor jumped on a call with me the other day to give a quick 10-minute demo of the software for Rentec Direct clients. Check out the video below, and if you are interested in acquiring more properties, CLICK HERE TO LEARN MORE ABOUT INVESTOR CARROT.