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How to FIND and BUY undervalued property

Don't know where to find undervalued rental properties? Thankfully, we've got some experts who do. Finding a below-market-value property is much easier than most people think. So, why is it SO difficult for new real estate investors to find deals instead of duds? This news report presents four time-tested, easily-implemented ways to find undervalued, off-market real estate so you can build wealth faster.

🚀 Quick Tip

Consider diversifying your real estate lead generation strategies to increase your chances of finding off-market deals. Utilize a combination of strategies that require minimal investment, such as networking and direct outreach, along with those that may involve some costs, like online marketing or call centers. This approach can help maximize your lead flow and set you apart from other investors.

🏡 Buying Undervalued Properties

Buying undervalued properties is all about purchasing real estate at a discount and adding value to increase its equity. This strategy allows investors to maximize their profits by monetizing the increased value of the property. There are several ways to implement this approach, including renovating properties, adding tenants, or changing the usage of the property. The key is to find motivated sellers with equity who are willing to sell at a discount, providing an opportunity for investors to capitalize on the potential value of the property.

📞 Call Centers

Call centers are a highly effective strategy for finding off-market real estate deals. By utilizing professional call centers with real estate scripts, investors can mass contact sellers, generating a large number of leads at a fraction of the cost. This approach allows for reaching a wide range of potential sellers, uncovering deals that may not have been apparent through other marketing methods.

Setting Up the Strategy

Setting up the call center strategy is relatively simple. Investors can contract call centers that specialize in real estate, saving time and effort compared to establishing their own call centers. The process involves sourcing the right call center, creating and updating scripts, setting up a CRM for lead management, and ensuring a seamless communication flow between the call center and the internal sales team.

Lead Generation Process

• Mass Contacting: Call centers can reach a large number of potential sellers, targeting broader segments such as out-of-state owners or refi rejects.

• Generating Interest: The primary goal is to gauge the interest of potential sellers and gather general information about the property, including its condition and the seller's motivation to sell.

• Handoff to Sales Team: Once the call center generates interest, the leads are passed on to the internal sales team for further engagement, setting appointments, and eventually closing deals.

Costs and Key Performance Indicator (KPI)

The total cost of implementing the call center strategy includes expenses for call center services, CRM, lead data, and skip tracing. A crucial KPI for this strategy is "speed to lead," emphasizing the importance of promptly contacting interested sellers to maximize lead conversion.

📬 Direct Mail

Direct Mail marketing is a time-tested strategy for generating off-market deal flow. By targeting sellers with equity and motivation, this method involves sending personalized mail to offer to purchase their properties. This approach may not be flashy, but it has proven to be effective in generating leads consistently. While it requires relentless consistency and patience, Direct Mail can yield results on autopilot, making it a valuable supplementary method when combined with other lead generation strategies.

Setting Up the Campaign

• Generate a targeted list of motivated sellers with equity in their properties.

• Partner with a print house specializing in Direct Mail to send out personalized mail to the selected list.

• Space out the mail delivery to ensure consistent lead flow and effective follow-up.

Optimizing the Message

The message in the Direct Mail should be concise and direct, emphasizing the benefits of selling to the investor. Offering to cover closing costs, avoiding realtor fees, and providing multiple contact options can increase the chances of a response from the recipients.

Cost-Effectiveness

While Direct Mail may require a consistent investment, it can yield a reasonable cost per lead or appointment. By complementing this strategy with other high-touch methods, investors can maximize their lead generation efforts and capture potential deals that may not respond to other marketing channels.

🏪 Wholesalers

When it comes to finding off-market real estate deals, working with wholesalers can be a game-changer, especially for new investors with limited resources. This strategy involves partnering with wholesalers who specialize in sourcing and securing off-market properties. By leveraging the expertise and efforts of these professionals, new investors can access a stream of potential deals without the need for extensive marketing or lead generation efforts.

Zero-Cost Strategy

Partnering with wholesalers offers a zero-cost per buy strategy, making it an attractive option for new investors with limited capital. Instead of investing in marketing or lead generation, new investors can tap into the network of wholesalers who are actively scouting and negotiating deals in the market.

• Contacting Wholesalers: Reach out to wholesalers in your local market through networking events, online platforms, or real estate meetups to establish connections and express interest in collaborating.

• Benefitting from Expertise: By working with wholesalers, new investors can leverage the knowledge and experience of these professionals in identifying lucrative off-market opportunities and negotiating favorable deals.

• Streamlined Process: Wholesalers handle the bulk of the legwork, including lead generation, property evaluation, and initial negotiations, simplifying the process for new investors and allowing them to focus on evaluating and closing deals.

Building Relationships

Developing strong relationships with wholesalers is crucial for new investors looking to establish a reliable deal flow. While it may take time to earn the trust and credibility of wholesalers, nurturing these connections can lead to a steady stream of off-market opportunities.

• Networking and Collaboration: Attend local real estate meetups and events to connect with wholesalers and demonstrate your commitment to the industry. Building a reputation as a serious and reliable investor can open doors to collaborative opportunities.

• Offering Value: New investors can add value to wholesalers by showcasing their ability to close deals, conduct thorough property assessments, and navigate the transaction process efficiently. By demonstrating reliability and competence, new investors can position themselves as valuable partners to wholesalers.

• Partnering for Success: Consider forming partnerships or joint ventures with emerging wholesalers to mutually benefit from each other's strengths. New investors can contribute their expertise in property analysis or financial resources, while wholesalers provide access to off-market deals and industry insights.

By tapping into the network of wholesalers and building collaborative relationships, new investors can gain access to off-market properties and expedite their entry into the real estate investment landscape.

🤝 Meetups

Meetups play a crucial role in expanding your real estate network and exploring potential investment opportunities. Whether you're hosting a meetup or attending one, these gatherings offer valuable connections and insights that can significantly impact your real estate journey.

Hosting a Meetup

When you host a real estate meetup, you position yourself as a local expert, gaining recognition and credibility within your community. It's an opportunity to showcase your knowledge and attract like-minded individuals, potentially leading to valuable partnerships and deal opportunities.

• Organize a diverse group of investors, including flippers, rental property owners, and multi-family investors, to create a well-rounded networking environment.

• Consider inviting a keynote speaker or expert to share valuable insights, attracting a larger audience and providing additional educational value.

• Utilize social media, local forums, and event platforms to promote your meetup and attract a targeted audience of real estate enthusiasts.

Attending Meetups

Attending local real estate meetups allows you to connect with industry professionals, expand your network, and gain valuable knowledge. It's an ideal setting for building relationships, exploring collaboration opportunities, and staying updated on market trends.

• Approach meetups with the intention of adding value to others, fostering genuine connections, and offering assistance to fellow investors.

• Engage with local influencers and industry experts present at the meetups, leveraging their knowledge and expanding your network within the real estate community.

• Collect contact information from attendees to build your local email list, enabling you to stay connected and promote future meetups or investment opportunities.

Best Strategy for Beginners?

For beginners with a limited budget, a combination of cost-effective and impactful strategies can set you apart in the competitive real estate market. By leveraging both free and budget-friendly approaches, you can maximize your lead flow and increase your chances of finding lucrative off-market deals.

Robert Kiyosaki warns ‘the crash has begun’ and it is ‘a bad one’

"The crash has begun," says R. Kiyosaki, and it's "a bad one."
After many warnings of an impending financial crash, Robert Kiyosaki, a famous investor and author of the best-selling personal finance book "Rich Dad Poor Dad," has now changed the story. He says the crash has already started and gives his rules to remember during this time.


It turns out that Kiyosaki said that this crash "will be a bad one," but that "crashes are the best time to get rich" because "bargains will float to the surface," as stated in the May 3 X post by the well-known financial trainer.

Besides that, he gave the six most important rules to remember in case of an accident.

#1: Leave knives alone when they fall.
Kiyosaki says that during a crash, being patient is a virtue and being greedy is a flaw, even when deals are falling all over the place. That's why he says, "Just because prices are falling, do not get greedy," and "wait until prices have bottomed and no one wants the asset you want."

Bad news: there has been a crash. It's going to be bad.
GOOD NEWS: The best time to get rich is during a crash. Deals are going to rise to the top.
IN A CRASH, DO NOT FORGET THESE RULES:
1. DON'T CATCH KNIVES THAT FALL: DO NOT GET ANGRY because prices are going down. Wait until the prices have...

“The Real Kiyosaki” (@theRealKiyosaki) The third of May 2024
For example, Kiyosaki pointed out in late March that the price of silver was still well below its all-time high (ATH). He called it the best deal because it was "not only a precious metal" but also "an industrial metal and a strategic metal" in high demand because of the many wars going on around the world.

#2: Study 
Kiyosaki has always talked about how important it is to learn about money, but he thinks it's even more important during a crisis. He says that YouTube is a "great source for real and fake teachers" and that people should "invest time to get into the heads of the teacher."

In fact, he had already said that the biggest threats to the United States were fiscal stupidity and a lack of financial education. He called traditional teachers "bureaucrats" who don't know how to teach their kids about money and the economy.

#3: Making new friends
He also tells his followers to "find new friends who are on the same path you are on." He tells people to stay away from victims (those who blame others for their problems) and Marxists (those who think the government will solve their problems).

He has called the US government, which is led by President Joe Biden, "Marxist" in the past, saying that they "took over the US in the 2020 election and will raise property taxes and impose rent controls while rising interest rates lower property values."

#4: Get a side job.
He also likes the idea of being self-sufficient, which means having "your own business," especially since "AI is going to wipe out millions of jobs." So, instead of being a "employee afraid of losing their job," he says, you should start a small business and become an entrepreneur.

As Finbold reported in late 2022, Kiyosaki has said that a side job could "provide you income...as the economy crashes, stock markets go bust, pensions crash, and unemployment rises." It could even "grow into the next Amazon (NASDAQ: AMZN) or Bitcoin (BTC)."

#5 Go with good teachers
In line with rule #2, Kiyosaki says, "YouTube has a lot of teachers, some good, many bad." He tells his followers to pick their own teachers, such as Ken McElroy for real estate, Tom Wheelwright for tax strategy, John MacGregor for stocks, and Mike Mauceli for oil.

"Watch out for people who can change your mind, your spirit, and your attitude."

He has already said that all of his family members were school teachers, which is how he knew that "they're all basically bureaucrats [and] financially stupid." He said that because of this, no one should trust school teachers or listen to their financial advice.

#6: Don't hold on to cash
Lastly, he says that saving "fake money" like the US dollar, Euro, Yen, or Peso is a bad idea because it "goes down in value." Instead, he says, people should "save gold, silver, and Bitcoin," which means "real money that goes up in value, especially in a market crash."

Also, Kiyosaki has said that "the rich save gold, silver, and Bitcoin," while "the poor and middle class want jobs that promise a regular paycheck but don't offer job security" and "fake $," which they put into stocks, bonds, mutual funds, and exchange-traded funds (ETFs)."

In conclusion
Taking everything into account, Robert Kiyosaki has been warning for a long time that the world's economies are about to crash, especially in the US, where the "fake" dollar is destroying the country's global power and ending the American empire. But only time will tell if and how right he was about what would happen.

Note that the information on this site is not meant to be taken as financial advice. It is risky to invest. Your money is at risk when you buy.

Check out the original article here

I was a house flipper for six years. So, I've dealt with a lot of contractors over the years. Dealing with contractors can be challenging for sure. But just like when you borrow money from an investor or lender you should always have good paperwork.

Even as a wholesaler, from time to time I will do what's called a wholetail. Which means we actually take possession of a property. Clean it out and put it on the MLS as is period from time to time we'll also do minor repairs and renovations if we think it will really move the needle. Not a full on renovation but still we need contractors.

So, this week the free download is an example contractor agreement that you can use in your business. As with any document that I give you from my company, please always consult a real estate attorney to make sure that this contract is suitable for your market.

With that disclaimer on record, here is 👉🏻 my contractor agreement that you can use as you wish in your company

DISCLAIMER: This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.