Quick and dirty tip for you today…
If you haven’t been using RedFin, you’re going to be starting right now.
Here’s what I want you to do: Go to RedFin and search your market for homes that have been listed for over 60 days. (You can filter for price range too.)
You’ll be shocked at how many will come up. 🙂
Then, of those listings, look for the ones that need lots of work. Just scroll through the photos.
Here’s the thinking behind this idea…
Perhaps after 60 days on the market, the seller is getting motivated, right? Which means you can probably get it at a discount.
So, you simply email the listing Realtor:
“Hey, I’m an investor. I saw this property at 123 Main Street. I’d like to buy it.
Before I waste your time with paperwork, do you think your client would accept an offer of $XX?
And by the way, I’m not a Realtor, and if you would like to represent me,
you can get both sides of the commission.”
Did you notice the end of my email? By posing your offer this way, you’re also providing value by telling the Realtor they can get the buy side of the commission, not just the sell side. You always have to think about bringing something to the table. Remember that.
And here’s the best part—YOU don’t have to do any of this… your VA can.
Just train them how to search RedFin, give them a formula for offers and the email template. Done and done.
Another cool thing from this method is that you can build solid relationships with agents. Once you do a deal with them, they’ll most likely send you more deals.
Network, market, make offers, follow up… that’s all this is, folks.
Now get to it.