Have you ever panned for gold?

There’s a lot of work involved, but the payoff… oh, the pay off!!

That’s sometimes how I feel about what I do in real estate investing. While I live and work a full-time job in Barcelona, I invest in multifamily properties in the U.S.

A lot of time is spent digging for great properties on which to place offers.

More time is spent having my team check the properties out or visiting them myself, negotiating with the sellers and closing the deal.

That’s where the gold comes in!

It’s called cashflow and on multifamily properties there can be a whole lot of it. I’d be lying if I said I didn’t get a little rush from collecting that gold in the form of rent checks every month.

But let’s back up a minute…

How do I find these properties in the first place? What does the research look like? I came up with a matrix to help me explain the process. I share it with you in this free YouTube tutorial:

Let me lay it out in words for you…

When you think about a matrix of how to find sellers… because that’s is what you are really trying to find (not properties really)… you will approach them directly and indirectly.

matrix

DIRECTLY

As you will learn in the video, going directly to sellers when you’re a long-distance investor like me especially will allow you to get the most intimate, straight communication.  When you can work directly with the individual or entity that has the problem then you are in the strongest possible position to find the best response to their issue.  I love working directly with sellers!

INDIRECTLY

When you’re looking to expand your network quickly then this could be just the right tactic for you to take.  You will work with the person or broker/agent working with that seller.  When you can tap into the broker’s network and become a part of their valued clients list then you’ve potentially struck gold.  – Tweet  

The next part of the matrix really has everything to do with how you are leveraging the old school notion of getting out to press the flesh with people or leveraging the scalability of working from behind your computer or mobile phone screen.

OFFLINE

This is where you meet sellers of properties in the flesh. Nothing beats face-to-face interactions when you are creating relationships, so get to as many real estate-related educational and networking events possible. If you don’t have any in your area, guess what? It’s time to start one up yourself.

It’s a great idea to browse www.Meetup.com for those groups. There are many; chances are high that there are likeminded individuals who’ve started groups you should join and attend.

In the offline world, brokers and agents can be a big help. Again, because I am a long-distance investor I lean on these individuals for assistance. They find me really good deals in Charlotte, North Carolina, whenever I ask them to look. I compensate them for their efforts when the deal closes. Remember that they don’t work for free!

ONLINE

Today there are SO many sites dedicated to helping sellers promote their own properties that it actually makes your job easier. You don’t have to be a long-distance investor to use these sites either.

Get to know them. Try www.Loopnet.com, www.FSBO.org, www.trulia.com and www.redfin.com for starters.  Don’t forget Craigslist and eBay. Yes, there are sellers and properties on those sites!  – Tweet  

I’d go longer with this article, but it wouldn’t make much sense unless you actually watch the video. Here’s that link again: “Find Multifamily Real Estate from Overseas – The 2 by 2 Matrix to Find Multifamily Real Estate”

You might have questions after watching it and after reading this piece. If so, that’s great, because I am here for you! Just hit the link below and schedule a time to chat.

It doesn’t cost you anything, so why not let me answer your questions?

contactbutton