Live Investor Coaching Call - How to Find Deals in the Current Market

2023-05-24

This week, Terrie helps out our friends Stef and Mike as they navigate the world of buying an investment property. This young couple are newcomers who've already bought their first condo and are looking to buy their first investment plex. Stef and Mike pick Terrie’s brain on how to pick the right property. Covered in this show: - identifying a market that stands out as your ideal investment opportunity - understanding key market metrics - ensuring your new property will be cash flow positive - common pitfalls to avoid when maki...

Stef and Mike pick Terrie’s brain on how to pick the right property. Covered in this show:

- identifying a market that stands out as your ideal investment opportunity

- understanding key market metrics

- ensuring your new property will be cash flow positive

- common pitfalls to avoid when making offers

Join us as Terrie uses her know-how to help Stef and Mike with their next step in investing. We're going to learn lots of useful tips and get clear examples that can help anyone become better at buying properties.

Let's get started!

What we learned from Mike, Stef, and Terrie in this episode:

- How to identify a market that stands out as your ideal investment opportunity.

- The key market metrics you should keep an eye on to ensure your property transitions smoothly into cash flow neutrality.

- Law of the Jungle: How newbie real estate investors can find deals and be more competitive.

-The deal flow of real estate investing.

- Are tertiary markets good to invest in?

- How to find good deals through MLS as a newbie investor.

- The pros and cons of buying a property through a wholesaler.

- How to safely invest in uncharted territories as a newbie investor.

Quotes:

“Any property that you buy that is cashflow neutral today will make money five years from now, and it will make even more money 10 years from now.” - Terrie

“If you want to have additional deal flow, then you have to cultivate relationships with people.” - Terrie

“Don't be afraid to make offers.” - Terrie

Timestamp:

[00:00] Podcast intro

[00:58] Mike and Stef’s quick introduction.

[02:13] Stef and Mike’s first question: how do you look at a market and know that that's where you're you want to invest?

[06:23] What are the market metrics needed for the property to become cashflow neutral?

[12:13] What is the deal flow of real estate investing? How fast should we expect it to go?

[17:04] Terrie shares his thoughts on tertiary markets.

[19:00] What percentage of deals are happening off of the MLS? Compared to what's happening in the MLS?

[21:45] Are there still opportunities in the MLS?

[24:02] Is it good to buy properties through a wholesaler?