12/20/2023
Flea market find of a lifetime. Imagine buying an old photo for $2 and it being worth $5M. Fortunate finding of a lifetime for sure.
But, as awesome as this fortuitous event is, that’s not how buy and selling real estate is or works.
Fortunate findings are not replicatable.
Scalable.
Or manageable.
Buying and selling is part art, part science.
But it’s definitely learned.
Mostly through practice.
It’s methodical.
Boring at times.
Thrilling for a second.
Then gone.
Many people ask me and others “how do you find such good deals?”
My usual answer is “I don’t focus on finding; I focus on recognizing”. There is a difference.
“Finding” is mostly fortuitous;
“Recognizing” requires knowledge and practice.
The best deals are usually direct to sellers.
The second best deals are where sellers have a relationship with a wholesaler or agent.
I like the second better.
It fits my personality, goals, and resources.
Usually after a deal hasn’t been assigned or sold, and motivation has set in the minds of the agent or wholesaler, I can come in and engineer a proposal that allows for a sale (good for the seller) and a profit (good for me).
Some prefer direct to sellers.
What about you?
What do you prefer and why?
Direct to seller? Or connected to an agent or wholesaler?
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