So, a coaching client of mine wants to dive into a new market that happens to be thousands of miles away from where he lives.
Doable?
Of course!
My immediate suggestion: Find an investor in that market and partner with them on deals.
How?
Well, hop on Craigslist in that new market and search for something like: “rent to own” or “lease purchase” or “owner financing”.
Of the results that pop up, you want to focus in on the local individual guys, not the big companies. You can easily tell who the active local investors are by checking out their websites.
Then, call up the person… and just be honest:
“Hey, I’m new to the area. I’m starting to do a lot of marketing,
a lot of deals are coming my way, I’m wondering if I can bring
you some of the deals, and we can partner on them?”
Simple and straightforward.
And check this out, my client happened to be getting leads from sellers who were interested in lease options. Jackpot, I tell you…
See, once that active investor hears the value that my client could bring to the table—sellers who were already saying yes(!)—he’ll definitely jump on board and partner on those deals.
I mean, my client is serving him up hot motivated seller leads on a silver platter! And in exchange, my client simply asks to be taught how to do lease option deals.
With deals like that, they can split the profits 50/50.
This scenario is a win-win for everyone…
When you partner with another investor, think of all the things you can learn:
- Which contracts and agreements they use
- Who their title company, escrow company and attorney are
- How to do different strategies like lease options, subject tos, etc.
I’m telling you, I LOVE the deals where I partner with a fellow investor. It requires so much less time and effort. I partner on land, wholesale and lease options deals. Love. It.
Sure, there’s less profit for you when you partner, but think of everything you gain by working with an experienced, active investor:
- they’ll likely be able to negotiate a lower price from the seller, and then sell it for higher (than you could on your own)
- they already have a buyers list and know how to advertise for buyers
- they have a website (credibility, legitimacy, lead capture, etc.)
So, yes, you’re splitting the profit pie, but it’s a larger pie than had you done it all on your own. AND, you’ll be doing sooo many more deals together than you would alone.
Look, the way I see it, the world is your oyster—because you can literally do this method from anywhere in the world. Just choose any city in the U.S., start the marketing, then call up active wholesalers and partner on deals.
This simple plan will open doors in any new market you want to venture into…
Just go pick your partner.
