How to Find Off Market Real Estate Deals with Zack Boothe

Zack Boothe-Salt Lake City Utah Real Estate Investor

Finding Off Market Real Estate Deals Can Lead to Untold Riches

Real Estate Investing is a transactional business. You have to have a source of deals. Better still is a source of Off Market Real Estate Deals that you can buy, renovate and make a profit. DFD Mastery founder Zack Boothe joins me on this real estate investment podcast to discuss his method of finding investment property.

Zack has a history as a long term real estate investor. His primary strategy was to buy rental property and lease to Section 8 tenants. You probably know of investors following this same strategy. He found that over time he didn’t really make much money on his portfolio. Tenants caused damage and the yearly property inspections racked up repair bills. Maybe you can relate.

Zack made the transition to becoming THE SOURCE of Real Estate Deals in his market-Salt Lake City, Utah. Since he controls the deals, he gets to set the terms and prices of his deals. Some get wholesaled to other investors and he collects a fee. Others route to fix & flip partners who step in, fund the deal, do all the work, then split the deal 50/50. Can you see how this sets you up to become rich?

Free Access to the REI Deal Machine Software Mentioned in Zack’s Strategy:

To Access the REI Deal Machine Free, go to www.REIDealMachine.com .  Many of the high volume investors around the country are using this software to develop the highest ROI Mailing List in the market.  The best part?  NO ONE has access to the list EXCEPT YOU!

 

  

 

Here’s How to Find Off-Market Real Estate Deals & Get FREE Access to his unique software for Driving for Dollars

Investing in real estate can be a great way to make money. However, it’s not a simple process. Not only does it involve buying, owning, managing and renting or selling property, but you have to compete with other people to get that property in the first place.

One of the best ways to make money through real estate investing is through off-market real estate deals. These properties aren’t listed on the market, but can still be bought and renovated to earn a profit.

You might be wondering how off-market real estate investing works. DFD Mastery founder Zack Boothe joined me on this to break down the exact process and demonstrate how you can earn big bucks from it.

Real Estate Investing

To really appreciate the advantages of off-market real estate investing, it’s helpful to look at other forms of investing, such as renting properties.

Renting properties out to tenants can be a great way to make some extra money. However, it also comes with a slew of disadvantages. These include:

  • Taxes
  • Tenant problems
  • Lots of involvement

Renting property out isn’t easy on the taxes. As the owner of that property, it’s up to you to pay property taxes, insurance and homeowner’s association fees.

Another problem with rentals is tenants; there’s no guarantee that a tenant will pay the rental fee on time, and missed payments can seriously cost you. Not to mention that tenants can inflict damage on your property and hide it to avoid paying costs. Finally, owning a rental property involves a lot of active involvement. You’ll need to make yourself available to tenants to address any issues that come up.

Wouldn’t you rather earn money through real estate without having to worry about these issues? Believe it or not, there’s a way you can do that.

Zack Boothe

Zack Boothe has been in the real estate investing game for years. He started by buying rental properties and leasing them. However, he soon discovered that this wasn’t the most lucrative method; the required property inspection bills and damage caused by tenants put a dent in any turned profits.

Zack transitioned from renting properties to becoming one of the top-earning Utah real estate investors. As the source of Salt Lake City real estate deals, he controls the terms of deals, including prices. If a property is wholesaled to other investors, he collects a fee. If it’s sent to fix & flip partners who perform all of the renovations, he still gets 50%. By now you’re probably wondering: how do I get started?

Driving For Dollars

Zack Boothe started making more money by transitioning to off-market real estate deals with driving for dollars, or DFD. This involves finding distressed properties, or properties that are about to be foreclosed or already owned by the bank. These properties can be bought for a low price, then repaired and sold for a profit.

The phrase “driving for dollars” comes from the method; it involves physically going out and looking for distressed properties. Since these properties aren’t listed on the market, there’s no easy database to help you find them. However, there are signs you can look out for, such as boarded windows, a messy yard and just a general lack of maintenance that indicates the home is not lived in.

If you’ve found a distressed property, the next step is to record the address and information about its condition. Once you’ve done that, you’re going to have to access public records to find out information about the property. This includes:

  • Who owns the property
  • If the property is set for foreclosure
  • When the property was sold
  • Owner’s mailing address

All of this information helps you determine how to contact the homeowner and whether or not you should even bother to reach out to them in the first place. For example, if a property was bought very recently, they’re probably not interested in selling.

Nobody said earning money through off-market real estate investing would be easy. Finding distressed properties that you can earn a profit off of can take ages, and that’s just the beginning of the work you’ll have to do. Fortunately, there are tools to help.

Deal Machine

With typical real estate investing, you have to sort through thousands of emails and letters before striking a deal. By driving for dollars, you can get a deal after canvassing just 200 homes, making it a more efficient way to earn money. Not to mention, canvassing is cheaper than mailing.

At this point, if you’re interested in real estate investing, then trying out the driving for dollars method is a no-brainer. Who doesn’t want to make more money faster? The problem is, it’s not the simplest or most straightforward procedure when you’re starting out. DFD requires knowledge about properties and the ability to canvass properly.

On the podcast, Zack Boothe told me all about the software he uses when driving for dollars: DealMachine CRM. This special software is what Zack uses to track, manage and market his driving for dollars strategy. It’s free up to 50,000 properties and greatly facilitates the process for you.

Learn From Experts

If you’re looking to get involved in off-market real estate investing, the first thing you should do is hear what an expert has to say on the subject. Check out my podcast to hear Salt Lake City investor Zack Boothe’s insight into dollars for driving, which includes advice on what to do and what software will help you be successful in the business.

 

This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/

 

Resources Mentioned in this Episode:

www.REIDFD.com

 

Zach & I Discuss:

  • Finding Off Market Deals in Salt Lake City, Utah

  • Partnering with Flippers for a Large Piece of the Action

  • Prime U.S. Markets for Wholesaling OR Fix & Flip Deals

  • How to Get the #1 Highest R.O.I. Mailing List in YOUR Market

  

Relevant Episodes: (There are 178 Content Packed Interviews in Total)

 

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.

Investing in Real Estate with No Money Down with Chris Prefontaine

real estate investing Chris Prefontaine

$75,000 Profit Per Deal-No Money Down RE Investing

You might have heard people say that investing in real estate with no money down is impossible. The first thing to understand is that investing with “no money down” does NOT mean “no money at all”. My guest, Chris Prefontaine, has developed an entire system to consistently buy property with no money down. We are NOT talking about house hacking or buying a primary residence. These no money down deals generate cash flow over the long term.

There are a few financing options to invest in real estate with no money down. The first way is by using seller financing. You find a seller willing to accept payments on the purchase price. In other words, the seller is the money lender in the deal, not a bank. For example, you agree to pay $400,000 for a house by making monthly installments of $2,000 per month.

The second way is to use a lease option where you pay the owner a certain monthly payment. Additionally, you lock in a purchase price for a certain period of time. Let’s continue using the $400,000 example. First, you lock in a monthly payment of $2,000 with the seller. Second, you lock in the purchase price of $4,000. Third, you agree to pay that $400,000 price within 36 months.

You make your profit by finding a buyer willing to pay $2,400 per month and $440,000 within that same 36 month period. Of course, this is an oversimplified set of examples. Every no money down real estate deal is unique. You can negotiate monthly payments, credits, the purchase price, & the term of the deal. Your options are endless!

Has Covid Improved the No Money Down Real Estate Market?

Covid has affected many real estate markets throughout the U.S. I’m a real estate investor and I personally buy rental property in Atlanta, Chicago, & Philadelphia. These markets have become superheated through 2020 which caused inventory levels to drop. The lack of houses for sale has caused purchase prices to rise. I imagine your market is similar.

This low inventory can make finding a deal more challenging. However, your opportunity to make money is better because the prices are rising. Any deal you make has a higher chance of selling at a profit since the market is moving up. In other words, deals are more valuable now than they have ever been. So how do you find no money down real estate deals?

Which Sellers Will Accept a No Money Down Offer?

The real estate investing business is based on making offers. Newbie investors often avoid making offers for a variety of made up reasons. They blame their credit score or interest rates. There are two reasons newbies don’t buy real estate. First, they don’t ever make offers to buy investment property. The second reason is usually the cause of the first reason. They don’t know how to make the offer. The price, the terms, the closing date. These are confusing.

To make things worse, newbies often make their offers to the wrong seller. Banks selling REO property will NOT accept a no money down offer. They expect cash. A seller who needs the cash to move to their next house cannot accept a no money down offer. They need cash.

On the other hand, a seller who is seeking to avoid paying taxes on the sale of a house is the perfect seller to offer a no money down deal. Those sellers are the perfect candidate for a no money down deal. The next challenge is finding those sellers. The best method for attracting deal flow is through marketing. All volume investors know this secret. Get good at advertising and you’ll never be without a deal. How much advertising budget is needed to succeed? Much less than you think. You’ll have to check out the episode for full details.

 

This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/

For a Masterclass on Doing No Money Down Terms Deals, go to:  www.REITerms.com

Chris & I Discuss:

  • Has Covid Improved the No Money Down Market?

  • Which Sellers Will Accept a No Money Down Offer?

  • Can this Business Run on $2,000/Month Marketing?

  • 3 Steps to Dominating Any Niche

  

Relevant Episodes: (There are 177 Content Packed Interviews in Total)

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.