According to the book “Millionaire Real Estate Investor” with Gary Keller, who interviewed real estate investors, they found that millionaire real estate investors found deals in the following ways:
- 32% of offers come from networks
- 28% comes from real estate agents and the Multiple Listing Service
- 10% came from driving and walking.
- 9% came from newspaper ads
- 7% came from foreclosure listings
- 4% came from For sale by owners
- 3% came from the Internet or database research
- 2% came from targeted marketing
- And 5% came from other sources
So when you look at the above, do you see that there are quite a few different ways to find great real estate deals?
Between networking with your dream team and the people you know and a good real estate agent, you cover 60% of the deals that millionaire real estate investors find.
I spend a lot of time teaching real estate investors how to do targeted marketing to find motivated sellers, but having a great agent and a little networking will get you, according to the book, 30 times the results!
So, I started doing MLS listing analysis to help investors across the country find great full-price home deals where the numbers just don’t work. With my analysis, you can quickly see how the houses compare to each other as I compare what the numbers look like if you don’t put in money, 10% or 20% and rent the house. I also do the analysis for you if you plan to offer the house for rent with option to buy.
Is this analysis accurate and should it be used to make financial decisions? No, I think it is a good screening tool so that you can determine which houses you should own, with very detailed due diligence. But it’s a great way to save you time from having to compile and run the numbers for many different houses yourself.
If you are interested in seeing an example of the analysis I do, you can check out our offers in your city at AnalyzedDeals.com.
