How To Find Off Market Deals Real Estate

How to find off-market deals in real estate. I love this and I consistently do it. Well, I don't because I'm the investor, but I have a team that does it in a variety of states. So a couple of things I want to talk about. In off-market properties, you've got to be networking and you better know your due diligence because there's a lot of people who say they know what they're doing out there and you're going to get burned. I've seen so many people get burned and then you stop and you never come back to it. So I talk deeply about the five D's of real estate in that context of how do you find that team as part of your decision? The next thing I want to talk about, how do you connect directly with the property owners because they're not on the market yet? And how do you use, again, strategic creative decisions, not emotional decisions? And how do you build the strong portfolio? Because I've had a strong portfolio since 1999 and I don't plan on giving it up. I plan on creating legacy and turning it over to my children. So let's go to how to really do due diligence. And I'm actually going to grab my glasses and read through it. It is in my WealthCycle book, the five D's of due diligence. Number one is data. You've got to gather all the analysis, the relevant data, the property values, market trends, financials, get the inspections done. Make sure you do appraisals. Make sure you do inspections. Even if it's just as is clause, you want to put in some inspections to protect yourself, especially if you have investors, you better know what you're buying. Discussion, meaningful, meaning knowledgeable discussions with sellers, agents, mentors, your investment team, your tax team has got to be involved, your corporate structure team. I would love to be on that team as your mentor and your coach. Discovery. So actually through a whole process of investigation, the properties, like do comparables, look in other markets. Like what if you went out one or two zip codes? Could you get a better deal? Could you get better cashflow? What if you went next to a college? Like really learn the market that you're getting into. And what is your outcome? You've heard it in real estate forever. The saying is you make all your money on the buy. Well, I have and haven't done that. So I don't believe that's your only way to make money because I think with enough creativity and strategy, you're going to work your way out of it and you're going to figure out how to make some profit. Diagnosis. Data doesn't lie. Numbers don't lie. People do. So what is the property's condition? What is the real repairs? What are the improvements going to cost? What's the true value of the investment? What is the depreciation schedule because of the repairs? Some of those are a hundred percent depreciation schedule. Some of them aren't. So you really have to have that tax person next to you. Not again, the bathroom wall of the internet, just running around asking questions and hoping somebody answers with the answer that you're looking for. And that's the problem with due diligence on the internet. It's not accurate. And then the last, you've got to make a decision. This has to be informed based on data, based on the discussions, based on the discoveries, based on diagnosis, right? Any of the red flags, you need to be asking questions. So when you look at a house, if you're a first time home buyer right now, there are some really great stuff in the Fannie and Freddie Mae, like that whole area. If you've ever done any government work, you can get really low, 2, 3, 5% down. Vets can get 2, 3, 5% down. Some can get 0% down. There's a lot of government programs, grant programs. Again, you got to be careful because if you're going to be the landlord, you got to be careful the state you're going to buy in because we have a nation in the administration right now would like us to be a renter nation. So they're incenting companies to buy volumes of houses versus let you, the individual buy them as an investor. So be very careful. California, you couldn't pay me to own in that state as a landlord because renters have 12 months of squatter rights. So, and I've been doing shark tank stuff for a long time. So it's a no and I'm out immediately depending on the state, depending on where the deal is and how we're going to get in and out. The next point that I want to talk about, creativity versus emotion in a deal. Most people are emotional investors. They're emotional in their life because their emotion drives everything because they don't have enough knowledge. So then they're run by fear, which is either run away from a deal or run into deal with really crazy behavior. So strategy is creative strategies. How do you put money together? How do you put OPM together? How do you put the best deal together? How do you understand IRR, which is the internal rate of return, which means you're actually taking your track strategy of the depreciation into the formula. If I'm talking great to you, perfect. That's why I want you here. I want you to go to my search bar and I want you to look for the terms you don't understand. I want you to read into my books, like learn. I want you to lean in and learn. That's always my saying. I'm about knowledge, not fear, not risk. There's nothing risky about what I'm telling you to do. You just don't know it. I was talking to some health professionals today, actually, and I said, you know, you're so tangled up in the way you're corporately structured and taxed. You're just used to it. But if I was you and if I'm going to compare you to your world, how you live financially is like living in the hospital sick world that you contest everything against because you live in the wellness world and the health world and getting people healthy for longevity and your whole financial situation is in sick care. So that's what I like in it, too. If you want to be healthy and you want to be wealthy, you live in the alternatives. So you don't buy REITs. You buy the property. You buy off-market real estate. You buy houses. You buy apartments. You Airbnb them. You short-term rent them. Lots of creativity in there. By the way, if you have a super, super strategic tax person, they can actually divide up the asset. Say I need the cash flow and you need the depreciation. There's a way to divide the asset that way. How about that for strategy? So I think strategy and creativity go together. Phenomenal place to invest in real estate. I hope you join. Hope you love to be with us. Our numbers in description below. If you want to call in and take advantage of anything we can do to help you jump in this market, because I would be buying real estate as I consistently do all the time. Now, before I talk about the last point, I want you here on my channel. Subscribe to the channel. Click that notification button. Be here every day, five days a week. I am here. And please share with other people. This is, real estate's not a game you do alone. You need to learn a lot from, you have to understand a lot of people. I'd love to be your coach and mentor. Typically don't sell on my channel, but in the notes below is a 75% discount to what is nearly an $800 product of an eight-hour course that I did. It made me a millionaire. I've made thousands of millionaires. So grab it while it's 75% off. You only get it here on my YouTube channel. It's the only way you're going to get it, but be here, learn, understand, like really, really want to know it. So how do you avoid the common pitfalls in looking for real estate? So like I said, you don't have to be an agent or broker. I was just always an investor, right? I had a huge database. I was a master distributor of the cashflow game at that point was part of the rich dad, poor dad brand. And I had a huge database of people who bought books and games from me. And it was time. I knew I'd be a single mom. I was pregnant beginning in 1999. So I called a mentor, paid $27,000 and I got on a plane the next day and flew to Oklahoma city. We went from Oklahoma city to Norman, Oklahoma was actually my first real estate market. So I love Norman, Oklahoma, still talk to Ed and the team back there. And it was just a great run. And then we continued to go throughout the Midwest market. So you've got to avoid this myth that you have to be an agent or broker to be in the business of real estate. You got to really understand this bathroom wall called the internet. So many of you, I mean, you even judge me by what, you know, the internet says about me versus get to know me and get to know I'm real and why am I the most sustainable mentor and guru in the space? Because I don't stop. I've been continuing, continue to grow, continue to produce books for you, continue to produce content. And yeah, I continue to do deals. I have never stopped doing real estate since 1999. I've never been without, won't be without, and it will become a huge legacy move for my family. So the pitfalls of real estate are just being bought into a bunch of different groups. And there are some groups, believe me, all over the world who are total scams. I had a group one time out of the East coast in the Northeast area, they bought a bunch of my millionaire making books. They didn't buy this one. They bought the cheap paperback version from one of my printers and they sent them out to their database saying, Hey, the millionaire maker wants you to buy real estate. I had nothing to do with it. So a lot of the lawsuits actually on the internet are from them because I got called into the litigation when there was no house on the property, there was no lot. The scams of, I can buy it from you. I can do everything for you. I can fix it up. I'll do a renter. I'll find a manager. I'll just send you a check every month. You just send me the money to buy the property, run, run. There's no logic in that. It's illegal to do it that way. By the way, it's a violation of security laws. And I know, I know the SEC very well, and I know what's a security and what's not a security. And that is a security because they do it for you. You cannot do that. So again, a lot of you, you're doing due diligence on the bathroom wall, which is a disaster. You're watching HGTV and you think that all these rehab shows are just magical and perfect. And they give you these numbers. And if you ever went to like a real construction, I'm not going to use Home Depot or Lowe's, but let's use those for examples. You go anywhere. I mean, you go to Meeks, you go to any of these lumber yards, you go to Smit. Prices are insane right now. You're not getting the same price. I don't care what market you go to. The market variance of just building and repairs is enormously, vastly different. So there's a lot of pitfalls you got to watch for. So what's the number one and two things I do? I grabbed a mentor. First thing I did, and I paid a mentor to teach me. And I've never stopped ever being mentored, by the way, since I was 17. Even before then, I just grabbed one specific in real estate. And then you better have access to capital immediately. And those who say, well, you can get in and do no money down deals when you have a little more experience than the beginner. So just don't buy this, you know, hook, line and sinker story and bunch of lies. And a lot of you buy it and you get burned and then you never go back. And then you stand back and all you do is invest in the stock market or, you know, treasuries or CDs. If you have any questions, go to askloral.com. A-S-K-L-O-R-A-L. Ask questions, make a request. We'll be back tomorrow.