As a real estate investor, you know that the key to success is closing deals. But what happens when the market slows down, and buyers are hard to come by? Don't worry — you can still use plenty of creative strategies to close deals and keep the cash flowing. Keep reading for tips on finding buyers and closing deals when the going gets tough.
In this episode of Collecting Keys Podcast, we share tips on buying properties and finding buyers, especially when the going gets tough.
Here are some power takeaways from today’s conversation:
- Take care of your health.
- Get deals at a conservative price.
- Offload properties that are affecting your finances.
- Make sure you have two exits.
- Consider creative financing.
Episode Highlights:
[03:44] Dealing with Weird and Shady Deals
People believe that investors charge higher than realtors. But the thing is, realtors don’t want to accept weird deals. Listen to the full episode to learn about the recent weird deals they took on — such as the deaf and mute lady with squatters cohabitating in her house!
[16:57] Staying Healthy
It’s helpful to have somebody help you in fitness programming. Taking care of your health is also important in entrepreneurship — or any career — because it gives you focus and energy.
[19:52] Finding Buyers
They take good care of their properties instead of just covering things up. Just because buyers won’t buy it doesn’t mean you don’t have a good deal.
Don’t be afraid to get your hands dirty. If you find good deals, get deals at an extra conservative price and wait it out. If it’s affecting your finances and ability to buy more assets, then it would be better to offload it. Make sure you have at least two exits for safety.
[26:38] Housing Supply and Rent Rates
Even though the housing supply is increasing, the tenant base is still massive, and interest rates are rising. It’s more affordable to rent. Rent rates usually go up, though they may soften at times.
As time goes on, real estate prices will always increase in value. Consider creative financing so that you can find more buyers. Creative deals will make it more affordable and accessible for more people to buy houses.
Notable quotes from the Episode:
[23:22] “Just because your buyers won’t buy it doesn’t mean you don’t have a good deal.”
[25:19] “Unless you’re trying to do this as an institutional size business or like a full-on business, there’s really no point in being cut in your losses if you have these different strategies.”
[29:16] “Real estate is consistency over time with everything.”
Resources Mentioned:
