How long have you been searching?

Has it been a month? 6 months? Years?

We hear from investors all the time that are struggling to find deals.

The numbers just don’t work… My broker keeps sending me junk… All the good deals are long gone.

Our follow up question is always the same…

Well what are you looking for?

99% of the time the response goes something like this:

I just want a value-add deal at an 8% cap, with a 10% cash on cash return in a  good market.

Pause. Let’s think about what you are telling your broker.

Imagine going to a job interview and when they ask what you are looking for you say

I’m looking for a job that pays a good salary and has 2 weeks of vacation.

Sounds ridiculous right?

Then why do we think it would work with a professional who is taking time away from their other serious buyers to find a property for you?

So before you go call another broker,

Figure out EXACTLY what you are looking for.

For example, rather than saying can you find me a small-multifamily that produces good cash flow in a good market

Try this

Hi John/Jane,

My name is Mike Sjogren and I am in the market for an investment property.

Specifically I’m looking for a 5-10 unit multifamily property in the Worcester market.

Max purchase price is $900k.

Looking for a property with value-add component in a B or C area.

Must be 85% occupied for lender.

I’m OK with roof repair as long as it’s architectural (no slate, flat roof or cedar shakes).

Must have lead certificates.

No hazardous issues.

No liens.

No septic tanks.

Prefer vinyl or brick siding.

Prefer separately metered utilities.

Don’t even mention the cap rate or cash on cash return unless the broker brings it up.

Your goal is to start getting leads, run the numbers and make offers that work based on your criteria.

This strategy will immediately separate you from the rest of the pack and

Show the broker you are a serious buyer!

Guess who just jumped to the top of their to-do list?

Give this a shot and comment below with your results.

If you’re looking to jumpstart your portfolio

And would like to partner with an expert team for your next deal

Send a message to Mike at michael@snacap.com 

To your success!

Mike & Ed