9: Finding Off-Market Deals, Step-by-Step with Ryan Dossey (Mentor) and Drew Wiard (Mentee): Part 1

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 29 April 2020

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

Can't find deals on the MLS? Dreaming about off-market deals, but not sure how to go after them? Today's show lays out a step-by-step, repeatable strategy for those of you who have what it takes to approach homeowners directly. It's not easy. It takes patience. And It costs money (or time). But for those precise reasons, it's where the real money is. Today we bring in Drew Wiard, a Fort Wayne, IN investor with a family and a full-time job. He's joined by his mentor, Ryan Dossey, a former BiggerPockets Podcast guest who built his 100+ unit portfolio by creating a pipeline of off-market deals. The guys walk us through how to build a brand that stands out from the competition, how to establish authority online, and how to pull lists full of juicy leads. This is not vague advice... they reveal the exact systems and resources they're using to find and contact sellers (not all of whom fit the "desperate/distressed" stereotype, by the way)! Plus, we have a great conversation about mentoring in general – how to find and vet teachers, how to deliver value, and how to hold one another accountable along the way. This is actually Part 1 in a series; we're going to invite Drew and Ryan back next month to tackle the second piece of this puzzle: handling leads, negotiating with sellers, and crafting your exit strategy. If you think you have what it takes to find off-market deals, this episode is a perfect starting point. Be sure to subscribe to the show in your favorite app, and we'll see you next Wednesday! In This Episode We Cover: Building a local community-oriented brand when marketing to sellers How to differentiate yourself from other "We Buy Houses" competitors Setting up a Carrot website Creating a web presence to build authority How to identify the hottest zip codes in your area Building "niche" marketing lists using online public records How to generate off-market leads without quitting your day job Eye-catching direct mail pieces The Customer Relationship Management (CRM) system Ryan and Drew use How Ryan holds Drew accountable to his goals How to bring value to your mentor How Drew makes time for investing despite having a demanding job and a family And SO much more! Links from the Show Real Estate Rookie Facebook Group BiggerPockets Podcast Ryan's Member's Blog Carrot Monday ListSource DealMachine BiggerPockets Podcast 335: 70+ Units Per Year and How Exactly to Make a Lowball Offer with Ryan Dossey How to Find Cash Buyers Tutorial (Max Maxwell) REsimpli Call Porter Check the full show notes here: http://biggerpockets.com/rookie9 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is, Real Estate Rookie Show, number nine.
0:04.0	I honestly enjoy marketing to find off market deals probably more than the real estate itself.
0:15.8	Shocker, but when you're doing buy-and-hold real estate investing and you use the same paint scheme
0:20.7	and the same appliances and the same cabinets.
0:23.8	It starts to kind of lose its luster a little bit.
0:26.4	It's kind of like what's one more house.
0:27.9	But for me, what I've really enjoyed is kind of hypothesizing if we do X can we get deals from it testing kind of those
0:36.8	theories and then scaling that.
0:48.8	I am Ashley Kerr and I'm here with my co-host Belipe Mejia who is finally back into his little closet and doesn't have a beach view anymore in Florida.
0:56.0	Look, Ashley is super jelly because I'm finally back in Nashville.
1:00.0	I'm back home.
1:01.0	I was in Florida for the past month and a half quarantine myself making sure my
1:04.8	family and myself are safe and she was starting to get a little jealous that I have the
1:08.6	beach behind me all the time but yep I'm back in my little five by five closet
1:12.1	for recording. I'm in in my little five by five closet for recording.
1:13.0	I'm in a closet too, so now we're equal.
1:17.0	We have a great show today.
1:19.0	We actually have Ryan and Drew, so Ryan is the mentor, Drew is the mentee,
1:22.0	and we're going to be talking about how Drew reached out to Ryan for help because he is a rookie in direct mail marketing.
1:31.0	And this show is actually going to be more than one show it's
1:34.6	going to be one two or three or maybe one and two we're not sure yet but one of the
1:37.9	main things that I want to focus on here is that some of the questions aren't
	...

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