May 2021

ELEVATION Sell My House Fast Denver

Finding Deals On & Off Market

This month focuses on most investors #1 challenge- Are there any good deals left in Denver?!  Many training programs teach this step first but we feel strongly that you need to learn how to analyze deals properly so that when the right one comes along you can move quickly. Our current supply and demand imbalance is making deal sourcing an incredibly challenging endeavor. The current number of homes for sale were down 67% from March of 2020. That translates to less than 2,000 homes for sale in all metro Denver!  Turning over every stone and getting creative is the only way to successfully find properties.

  • “On Market” Using the MLS is a key way to acquire properties but it has become an ultra competitive space in today’s current market. Consistent is key in setting up property searches to fit your buy guidelines from price point to specific location. Typical success metrics using the MLS are to write 80+ offers yielding 10-12 negotiations which enable you to put 2 properties under contract. Hopefully one of the contracts gets to the closing table. Working with a real estate agent who has experience writing investor focused offers is incredibly important. Prior to the pandemic, we purchased roughly 50% of our deals on the MLS but that number will likely drop below 25% in 2021.

ReColorado MLS Deals on Market

  • “Off Market”  The continual search for properties not listed on the MLS is how investors will succeed in 2021 and into the future. Some key factors in deciding which off market avenues to pursue center on the time you have to source, marketing budget, skill set and best use of your time. At ELEVATION, we use all of the following sources to various degrees:
    • Networking & Partnership- Building relationships with other investors who are buying properties that are above/below your target market on size, budget, or scope of work are a key way to find deals. Buying & selling between a small group of like minded individuals also leads to other partnerships with those in complimentary business such as hard money lenders, property managers, contractors, insurance brokers, appraisers, senior citizen communities, estate sale companies, and divorce attorneys to name a few.

Real Estate Networking

    • Media & Advertising- Adding digital media such as PPC, SEO, and creating content to add value to sellers and their sphere are also very important. We also focus on social media platforms and more traditional advertising from radio and TV to direct mail and cold calling.

Buy My House Fast Denver

    • Wholesalers- Take the time to build close relationships with your sales reps so that they know your buy box and hopefully put you at the top of their call or email list. It’s important to make quick decisions and stick to your numbers when buying through wholesalers. This route is becoming almost as competitive as the MLS but still needs to be a part of your sourcing strategy. 

Wholesale Houses Sell my house fast Denver

 

KEY TAKEAWAYS

Consistency is king with sourcing deals both on and off market. We typically commit to 9-12 months on all marketing before making changes. Pick 2-3 focus areas and go deep instead of spreading yourself too thin….happy hunting investors!

Derek Marlin, CEO

ELEVATION

720-545-0490

Derek@ElevationInvest.com

ElevationInvest.com