Something I hear all the time from new and experienced house flippers alike is “Deals are hard to find.” And believe me, I know this feeling! 🙂 When I first started flipping houses, sometimes I felt like I was swimming upstream trying to land deals. I’ve been there.
The truth is, this business is NOT easy. It takes a lot of hard work. And I think we’ve all struggled with finding deals at one point or another. But if you just keep pushing and don’t let fear and doubt slow you down, over time you will absolutely start to make things happen.
Momentum builds upon momentum. I’ve said it many times before—getting your first deal is harder than getting the next 10, and getting the next 10 deals is harder than getting the next 100. As you grow your business, your skills improve, you get better at what you do, you make connections, and you learn not just how to find and win deals but also how to create deals when the opportunity arises. It’s all about momentum.
This past week, my team and I did something we’ve never done before. We bought 12 houses in a single week!
This is a new record for us—more houses in one week than we’ve ever done before. It helped us get over a slightly-slower-than-expected start to the year, and we’re now on track for our biggest year yet.
So, you’re probably wondering, what exactly happened last week that allowed us to buy so many houses? A better question would be, what didn’t happen last week? Seriously, we got deals from everywhere!
- First, our efforts on the “home front” continued to pay off from the marketing and networking we’ve been doing. My acquisitions manger Kale bought a house, and my agent brought us another.
- I’ve been building relationships with key wholesalers in some of our existing markets and in new markets where we haven’t bought before. Nurturing these connections has been a big part of where I’ve spent my time lately, and as a result, we purchased 3 houses from an awesome wholesaler here in California.
- I bought a house from one of my coaching students, which is something I absolutely love doing whenever I can. This took us up to a total of 6 houses for the week.
But the biggest breakthrough came as a direct result of me getting outside my comfort zone and flying down to Florida to be part of an incredible real estate investing mastermind group. This event blew my mind in so many ways. I had been on the fence about joining for a while—I won’t get into the whole story here, but I’ve been scammed into some big, expensive coaching programs in the past, and I didn’t want to get suckered into something like that again. But this group turned out to be one of the best investments I’ve ever made into my business, period.
Everyone in this group is doing at least 100 deals a year or more. Getting the opportunity to connect and collaborate with some of these members was huge, and I know this is just the beginning of the impact this event will have on my business.
The first night of this event, I made a connection with a member and bought 3 houses from him that night. Over the next two days, we put 3 more houses under contract from his company, bringing our total for the week up to 12 houses.
And again, this is just the beginning. I’ve never been more excited for what the future holds!
I’m telling you how we bought these houses because I want you to notice where each of these deals came from. Do you see the trend? Here are a few key takeaways.
- It takes time for effort to pay off. Don’t let yourself slow down, even if the deals seem to be slowing down. Push even harder, because chances are you’re very close to a breakthrough!
- If you want to go big, you can’t afford to rely on just one source for deals. Now, I’m not saying you shouldn’t find what works best for you and focus on a niche where you can crush it better than anyone else. Definitely do that. But don’t shut yourself out of new opportunities. If you want to be putting houses under contract consistently, you’ll need as many lines in the water as possible.
- In real estate, your network and the relationships you build will absolutely power your success. Yes, it may require getting out of your comfort zone, but nurturing connections with peers and other professionals in this industry is absolutely essential.
Remember that each small success helps build momentum that takes you to the next level, and the next, and beyond. The more effort you put in, the more your return on that effort increases. Keep this in mind when you’re between deals and you feel like you’re spinning your wheels!