Off-market deal sourcing is the discipline of finding properties to buy before, or instead of, their appearance on the open market, then profiting by putting them to one of the standard exits.
Log in to followThis is a small one but it's my first contract so I'm writing it up. I'd been driving a couple of older streets after work with a notes app, writing down anything with a full mail…
Running about 1,100 dials a week on a stacked list, pre-foreclosure plus 50 percent-plus equity plus 10-year tenure. Contact rate is fine, roughly 8 percent. The problem is that o…
I've been mailing a small absentee list for a first rental, badly and slowly. What actually happened is a woman two doors down from a property I mailed called me because her siste…
Trying to work out where money goes on the acquisition side, and I don't think this has an obvious answer. The case for paying the fee: you see the actual property, with actual nu…
I've mostly been reading about notes and paper, so the direct-to-seller side is new to me and I'm probably asking this clumsily. When people talk about a data platform with 200 st…
Lead came off a pre-foreclosure pull combined with equity over 55 percent and 19 years of ownership. Owner is behind, wants out before the sale date, and has been clear he does no…
My work is on the capital side and mostly reading other people's diligence, and off-market keeps coming up as the place the margin lives. Fine. What I want to understand is what t…
I get one real day a week for this and I keep splitting it badly. My background is on the build side, so from the street I can tell you a roof has two layers on it, the gutters ha…
I've been doing this backwards. I bought a list subscription before I understood the word. When people here say off-market, sometimes they seem to mean a house that was never list…
I pulled my first list this week and I'm sitting on it instead of using it, which I suspect is the actual problem. One county, single family, 3 bed or more. Filters I stacked: own…
I've been the analysis guy in this room for a while so this is me reporting on the cure. The pull started as everything absentee in two zip codes with 50 percent plus equity, 4,10…
I gave a range on a first call last month and it cost me the deal. Long tenure owner, absentee, house had been on a rental for years. From the data and two exterior photos I said…
Mid-process on a couple of things and realized I've never thought about this. I'm not buying, I'm putting properties under contract and assigning. Nobody has mentioned insurance t…
Closed this last spring, done unwinding it now, so here are the numbers. Off-market lead, tired landlord, 22 years of ownership, came off a mail campaign I'd been running for six…
I closed the books on a quarter of sourcing spend and realized my cost per contract changes the deal answer depending on where I put it. Say a campaign runs 3,400 in data and post…
Ran this from January to mid-April and shut it down. Writing it up because the arithmetic is simple and I ignored it for three months. Setup: two callers, part time, paid hourly p…
I've been calling absentee owners for a few months and mostly getting hung up on, but one guy actually said he'd take a number that seems workable to me. And now I'm sitting here…
Writing this down because I think a lot of people preparing are doing what I did. I'm looking for one small rental to hold, not to wholesale, so my idea was to find an owner direc…
Contract at 212k on a 1970s three bed with a bad roof and a tenant on month to month. Comps supported 305k fixed. I'd sourced it off a stacked list, pre-foreclosure filing plus lo…
I've been working a small list by hand, maybe 220 owners, everything over 25 years of tenure in two zip codes I actually drive through. One of them called back after the third let…