That’s what I told my landlord one day. I was hesitant to have this conversation with him because I was a waiter... in a restaurant. I thought he would laugh me off the phone. On the contrary, he was actually excited to share his knowledge with me! He told me I need to focus on 2 things: finding deals and finding money. This can apply to wholesaling, rehabbing, rentals, etc.
1. Find Deals
First finding deals. Find a property with a seller willing to sell at a discount. There are many ways to do this. Find a good investor-friendly realtor OR become a realtor yourself and look on the MLS every day like we do here at Capital Invest. Drive for dollars, network with wholesalers, door-knocking, marketing yourself as a buyer of distressed properties is the key.
2. Find Money
The second point he made was finding money. He told me that when you find a good deal, the money will come. Now that sounds all pie-in-the-sky. But I can tell you from my own experience that shortly after finding my first deal, in fact my first 3, I found the money (while still working as a waiter). People want to invest. They need a better outlet to receive returns on their hard-earned money.
Now this may sound very simple, it is. Simplicity equals clarity. These are the basics to real estate investing. And if you just remember these two points, it will be easier to stray from the distractions that can cause people to overwhelm themselves and eventually quit. Simple. Basic. Get after it.
Answer in the comments: What’s your favorite way to find deals?