People overlook the open market when it comes to finding good deals. It can be time consuming to keep up with every new opportunity that hits the market on a day-to-day basis. This is where brokers can add a ton of value in my opinion. Found this asset for an experienced investor in Long Beach right around Christmas time. The keys were: 1. Speed - evaluate as fast as possible, know where you need to land on pricing, and be comfortable with the location. Within 2-3 days if possible. 2. Competitive offer (terms/pricing) - knowing where you need to land on pricing for the deal to work for you (and sticking to it). This is different for every investor. Get comfortable with your number regardless of asking price and be flexible with the seller where you can. 3. Efficient through the process - these types of deals often have 2-3 backup buyers in place. Having a team that can help with the due diligence phase makes a huge difference to confirm what’s been advertised and to avoid any missteps that may could lose the deal. If you’re looking to make a purchase in SoCal or want to be kept up to date with what’s going on in the market in real time let us know! Dan Blackwell Trey Mitchell
I love this! Congrats on this one Jack!
Commercial Real Estate Broker, Multi-Family Specialist at Gould Group Investment Real Estate
6moGreat takeaways. The right deal, for the right investor, at the right time.