I have great experience in cash-flow analysis, valuations, title, insurance, and financing. I broker loans and offer consultation and advice on numbers. I have never been involved on the front lines where deals are put together. I have seen/heard so many awesome deals get done it is quite an inspiration, but have never approached a property owner who didn’t have their property listed on something like MLS or Loopnet - where it seems terms are less flexible because buyers are competing. Typically it seems a good relationship with seller is the key to a good deal. Any advice on any of the following would be greatly appreciated:
-
Does anybody ever approach a property owner who doesn’t have a FSBO sign on their property or a Realtor who is marketing the sale? - If so, how do you find a property owner? I seem to only run into property managers who usually don’t want to connect me with the owner (5 strike outs).
-
In approaching a property owner to discuss selling - in cases where the owner is not actively trying to sell the property by listings/signs/Realtors - could anyone share examples of their successful dialogs? i.e. It just seems strange to me to come face to face with an owner like that and say, “Hey, ever thought about selling your property? If so, I would like to buy!”
-
Can anyone share their greatest success in finding deals? i.e. How are most deals captured? with sellers who have a property listed in a newspaper vs loopnet vs Realtor vs no listing at all, etc.
-
I have had the same goal for the past 4 years: get to the point where I can devote all my working time to professionally invest in real estate. Ideally, I would love to wrap up a deal in a lease-option or seller carry. I would love to get into a mobile home park or apartment with a bit of upside. Right now, I feel like I have acquired enough knowledge and experience in the industry to jump in - not that I wouldn’t still rely on advice constantly. I want to wrap up a deal in contract and make something happen. Any other tips or advice would be much appreciated! My main problem is: how do I find a seller offering enough flexibility or if I have to go conventional financing route how do I find the capital investors and make a convincing proposal to them?