You’ve probably seen other real estate investors share their home run deals. They got the property for a steep discount in a decent neighborhood, they fixed it up quickly without issue, and sold it for top dollar quickly. We all want those deals, but that is not the norm.
Real estate investing runs on messy deals. If they were easy, the seller wouldn’t need our help.
You will run into so many scenarios that you can’t adequately prepare for each but if you have a solid network of other investors and industry-related professionals, you should be able to work through most deals.
If you keep waiting for a deal that has perfect parameters, you’re going to end up with analysis paralysis and you’ll never do a deal.
Some investors get into the business with a specific model in mind and toss potentially great deals out the window because it doesn’t fit their buying criteria.
This is where creativity can make you money.
Your trash is someone else’s gold.
You may not like mobile home leads but instead of tossing them to the side, find an investor who does want them and if they’re able to make a deal out of it, you can have an agreement set up with them so it’s a win-win for both of you.
If you only buy in certain counties, knowing investors around your state and even nationally can allow you to send your “trash” to them to see if it’s a deal they can make work.
If there’s enough meat on the bones, try to make the deal work. Consider your exit strategies and try to find a solution for the homeowner that allows them to move on from the property and for you to make some money for your expertise and time.
Don’t do the deal if the numbers are so thin, that you have the potential to lose money. If you’re having leads consistently come in, work through any that could be a potential deal and figure out if you can be the solution for them.
There might be taxes owed, liens on the property, heirs that need to be contacted, etc. but don’t be turned off from those issues! There could be gold on the other side of those hurdles, if you put the work in.
Stop waiting for the perfect deal and make lemonade out of lemons.