I’m talking about small towns on this podcast; my friend, Larry Goins, who lives in Charlotte, told me that he never looks for deals in Charlotte. Instead, he does deals in the small towns nearby. There’s less competition and the people are easy to deal with.
Larry looks for deals in 7 counties that surround Charlotte, which is a good sized territory. He uses direct mail marketing—many of the houses are vacant.
He does deals via phone, then he uses a mobile notary to take the contract to the seller and get it signed. The signing happens within 2 hours of the phone call that includes agreement on price.
Also, there are often many vacant lots in small towns. Larry has found some owners who don’t know what to do with them and are happy to be rid of them. He’s gotten lots for as little as $500.
You can enlarge your geographic search parameters on Zillow and/or Craigslist to get leads outside of large metro areas. You can cold call or text the leads you find there. Costly direct mail is not required.
Listen and learn:
- You can make good money with fewer headaches doing deals in small towns.
- It’s the same process… just geographically expand your search for landlords and FSBOs.
- There are generally a good number of vacant properties in small towns.
- Use a mobile notary for contract delivery so that the deal stays on track.
Mentioned in this episode:
- Joe’s podcasts on iTunes: Real Estate Investing Mastery Podcast
- Joe’s new course: SmallTownProfits.com
- Two-day Implementation Workshop with Joe and Gavin: VirtualCaseStudy.com
- Mobile notaries, nationwide service: 123 Notary or NSS Notary
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