How JB2 Finds the Best Real Estate Investment Deals
We’ve learned throughout our real estate careers that there are always good deals to be found if you look hard enough. The real estate market is competitive; therefore, we are continually searching for creative ways to beat the competition. In this blog, we will outline what we are currently doing to find deals:
Finding the Best Real Estate Investment Deals
1. Talk to brokers and property managers to find the best real estate deals
This is the most common way to acquire properties as brokers and property managers directly contact sellers. We have built a solid team on the ground in Oklahoma City (OKC). Brokers are sending us deals weekly, and our on-site managers are analyzing the deals with us. It helps to have people on the ground that manage buildings throughout OKC, as they can give us first-hand insights into what’s happening in each rental sub-sector.
2. Hire a company that specializes in real estate acquisitions
We have hired a company that focuses exclusively on real estate acquisitions. Through many years of experience, they have built systems and scripts to directly connect with sellers and entice them to do business with us directly. We like this about them because 100% of their business is acquisitions, and they are compensated primarily on their performance. This structure is great because the more deals they find, the better it is for them and our investors, and the better it is for JB2. These firms help us with acquisition support. We also spend our time on other aspects of the business, such as asset management, connecting with our investors, visiting our properties, etc. We love working with brokers, as they can bring tremendous value. And, this avenue provides one more way to identify new deals.
3. Reach out to the owners of neighboring buildings that we already own
This is a practice that has worked for us in flipping and multifamily. We reach out as a friendly gesture to our neighbors in case they need anything. We also connect to gauge if they are interested in selling or will be interested in selling in the future. On our last trip to OKC, we met our neighbor, and he gave us a tour of his property. This was great because in the event he decides to sell, we have already gotten the tour and can make a quick decision if we need to, beating out the competition.
4. Reach out to sellers directly to discuss real estate opportunities
We have also been reaching out to sellers via phone calls, texts, and old-fashioned snail mail. This can often be the most direct way to deal, as there wouldn’t be anyone in the middle taking a cut. Though in this situation, we would still have our respective attorneys handle the paperwork. This worked well for us in the flip business, and we have gotten some traction with it in the multifamily sector.
The Real Estate Opportunities are Out There
To conclude, there is a lot of opportunities out there. It’s just a matter of staying consistent in our search to find a deal that checks all the boxes. We feel confident that we will continue to have a solid deal flow with the avenues we have in place. As such, we will continue to buy great deals. Please stay tuned as we will have something for you soon!