Tag: Property Investment

  • The Ones You Never Heard About

    The Ones You Never Heard About

    Not every deal I lose track of was a bad one.

    A while back I flagged a property that looked promising. Priced well below recent comps, no obvious defects, decent location. The kind of thing I’d usually already have a home for before I even finished looking at the listing.

    This one, I didn’t.

    I made a couple calls. Nobody was in a spot for it right then. One guy just closed something else. Another was focused on a different area. By the time I got to the third call, somebody else had already put it under contract.

    I never even found out who bought it.

    That’s the part that sticks with me. Not that I lost the deal. I didn’t have a deal to lose. I just didn’t have the right person on the other end of the phone in time.

    It happens more than you’d think.

    Most of what I see isn’t worth a second look. Access, utilities, topography, floodplain, buyer demand, surrounding uses, and a dozen other factors kill most of it before it goes anywhere. But every so often something survives all that, and when it does, it doesn’t wait around.

    The properties that are actually underpriced don’t sit on the market long enough for you to find them on your own. Somebody has to already be looking, already know what you want, and already have your number.

    I think there’s a difference between wanting to hear about a good deal and actually being set up to hear about one.

    If you’re not on my list, you’re not missing out on deals I send. You’re missing out on deals I never get the chance to send, because I didn’t know to call you.

    I’m trying to fix that, one name at a time.

    If you’re an investor and want to be one of the calls I make when something survives the filtering, click below and tell me what you’re looking for.

    No obligation. No pressure. Just a way to make sure you’re one of the calls I get to make instead of one of the ones I don’t.

    Is it a bad idea to be on that list?

    Learn About The MBR Buyers Short List

  • It’s All In How You Look At It

    It’s All In How You Look At It

    I’ve heard land investors talk about searching for deals and use the metaphor “like looking for a needle in a haystack.” And I get it. You have to look through a lot of stuff you don’t want to (maybe) find what you do want.

    But think about it a minute.

    And don’t assume rules that nobody spoke.

    Hay is flammable. Needles aren’t.

    Needles are magnetic. Ashes aren’t.

    So if you really want to find that needle, just burn the haystack. Then take a magnet or metal detector to find the needle in the ashes. And you’re done.

    Instead of getting worked up about how hard something sounds, just think it through and see if there’s a creative solution.

    I recently ran a quick search in the greater North Texas area (22 counties). In the land category, there were a little over 4,200 properties available.

    That’s a pretty big haystack. Over 99% of those aren’t going to be suitable for what you’re looking for. Makes it hard to want to start looking.

    And even if you could look through them all, the list changes every day. New properties come on the market. Others sell, expire, get canceled, or get reduced.

    I’ve figured out a way to screen daily for new and reduced properties that appear to be priced well based on recent nearby sales. Burning the haystack, if you will. That leaves me with a much shorter list to run the magnet over.

    Most low-priced properties are cheap for a reason. Floodplain. Access problems. Utility issues. Some other defect that isn’t obvious from the listing. Those get ruled out too.

    Every so often I end up with one or two that are worth a closer look.

    And I have a list of people I alert when that happens.

    But there’s not always a fit.

    It may not be in an area they like. Or it’s more (or less) money than they’re looking to invest. Or maybe they just bought something else.

    So every now and then I end up looking at something I think deserves a closer look and don’t really have the right investor to send it to.

    I’m trying to fix that.

    To hear about opportunities when they survive the filtering, click below and tell me what you’re looking for.

    No obligation. No pressure. Just a way to see what catches my attention before it disappears.

    Would it be a bad idea to know about them?