93: Stop Making Offers! Here’s What to Do Instead with Erik Wright

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 7 July 2021

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this hot housing market, it seems like almost everyone is telling you to make offers on anything that could be a potential deal. But Erik Wright, founder of New Horizon Home Buyers, poses a different strategy. Erik has been getting more and more off market deals in Chattanooga, Tennessee without offering a single dollar to potential sellers. He has a specific way of negotiating that allows him to get tens of thousands of dollars off of properties, making the deals even sweeter for him. Erik didn’t always have the gift of negotiation. He started his real estate journey at 23 years old, buying an accidental house hack property, then buying a HUD foreclosure, a couple of duplexes, and some more single-family homes. Over the past decade, he has amassed a 7 unit portfolio and is currently transitioning into having New Horizon Home Buyers become his full-time job. Through the use of search engine optimization (SEO), Erik’s company has become the top-ranking result when searchers type in “Chattanooga cash home buyer”. This proves that even in a business like flipping, BRRRR-ing, or wholesaling, you can still find new ways to optimize and upgrade your lead generation efforts, even if you have ZERO experience in something like SEO! In This Episode We Cover Why house hacking is a rookie investor’s best friend Buying a HUD foreclosure and how it differs from regular home sales Financing a growing real estate portfolio without a W2 Using referrals of other investors to find the best contractors around How to rank #1 on google so you can get more off market deals Getting below-market prices without ever making an offer on a house And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram REI Reply Real Estate Rookie Facebook Group MLS BaseCamp BiggerPockets Podcast 470: The 7 Tips @investorgirlbritt Used to Go from Amateur to Pro Investor BiggerPockets Podcast 423: Who Not How: Stop Doing the Things You Hate, Free Up Time, Be Happier and Richer with Dan Sullivan InvestorGirlBritt's Instagram Check the full show notes here: https://www.biggerpockets.com/rookie93 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	you guys it is back the event you have all been waiting for Tony go ahead spilled beans bigger
0:07.3	pockets 2021 is officially happening will be a new Orleans from October 4th through October 5th
0:13.6	and it is going to be the best real estate conference that happens this year hands down
0:17.8	okay so here's just a really short list of some of the keynote speakers
0:21.6	hail LRod Brandon Turner Ken Corcini David Green Mindy Jensen Scott Trends Tony Robinson
0:30.6	and many many more this is going to be a great conference and really the best part about conferences
0:37.5	in my opinion is the networking yeah there there's going to be 1500 investors at this event
0:43.6	and I guarantee that you guys will be able to build relationships boost your potential and close more
0:48.4	deals so if you were interested in attending which I hope all of you rookies are head over to
0:52.7	bigger pockets dot com board slash conference to buy your tickets today we will see you guys there
0:58.9	this is real estate rookie episode 93
1:06.0	that's a big thing that I have embraced is that who not how mentality like I said embracing
1:10.8	my own ignorance not trying to pretend like I know something I don't find in somebody who does
1:14.9	know that and being okay with like maybe making a little less money right now
1:22.8	my name is Ashley Care and I am here with Tony Robinson Tony go ahead tell us how many deals
1:29.8	you got under contract well we are closing on another property actually tomorrow so
1:35.6	but but but but but but big but here we actually made the decision yesterday that we've got five
1:41.5	properties under contract and we're we're not going to graft anymore for a while we really want
1:45.7	to kind of slow down stabilize to portfolio that we have and really just kind of refine some of our
1:50.9	internal processes and then I'm also I like recently stumbled into the world of container homes
1:56.8	and I've become like super infatuated with the idea of building a container home and one of our
2:00.6	properties so I think that'll be the the next big project for us and then we're also working on
	...

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