There are times in my real estate ventures that I have thought to myself “man it’s really hard to find good deals in Calgary” and at some points that has been true – but only for certain investment strategies. During those days I had to take a step back and look at the whole forest of real estate deals and not just the skinny little sapling that happened to be my current focus. In real estate there are ALWAYS deals to be found for the strategy that you are working on as well as others, they may not be in your back yard in the city that you live but they are out there for sure. We can become so focused on trying to find that next rent to own/renovation project that we overlook the great rental property or commercial deal that we would be able to make great returns on if we took a second the think more creative about the deals that come across our desk. Other investors out there that do things differently than you do are an excellent resource to be able to wholesale that deal to so long as you give the potential deals that don’t fit your current line of business more than 30 seconds of time and effort! Hands down the easiest way to make money in Real estate or any other business is referrals – sending business to another real estate investors will put cash in your pocket with less work than any other activity. This can also lead to Joint Venture opportunities that you never saw coming looking at your tiny saplings in that forest of deals! Other markets are something that highly encourage new and seasoned real estate investors to consider – there are not always that many deals in your own back yard and thinking outside the borders of your local area can reap huge profits if you are daring enough to step outside your comfort zone. Working outside of your city does require some extra work in the beginning to set up a team or draw up and agreement with a partner in that area, however that work will pay off 10x by not missing out on a deal. The velocity of money is very important in business because what is really important is not how much money you make deal-deal it is how much money you can make how fast – think of what missing an opportunity could cost your business : 50,000?100,000?1,000,000? Keep those eyes open, look in all the corners you come across especially when your current digging isn’t coming up with any gold!
To your success!
Tim R