How to find great deals investing in Airbnbs

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What's up guys, it's James here and in today's video, I'm going to talk to you about some of the main ways that we find great properties to invest in for short term rentals. Now, a lot of people have been talking to me lately and saying, Well, you know, James, the market is so hot right now that I just don't know if I can even buy a property and have it actually be a good investment. I'm not sure if I really want to get started now, or if I want to wait until later when the market cools down a bit.

And so this video is where I'm going to talk about how we're able to find great deals for short term rental properties. In any market condition, whether the market is hot, whether it's cold, whether it's a buyers market seller's market, whatever, I'm going to show you exactly our process for how we find these deals.

Now, if you want to go in depth and get all of the exact step by step strategies for exactly how to do this, then you'll want to click the link down below to schedule a quick 15 minute call with me on that 15 minute call, we can talk more and see if you'd be a good fit to work directly with me in a private mentorship program, where I'll walk you through and guide you through exactly how to find deals for short term rental properties, how to analyze them how to actually buy these properties, set them up, furnish them, optimize them, manage them ongoingly, whether yourself or with a management company, I'm going to show you absolutely everything from A to Zed over a six month period and walk you through so that you actually go and buy your first short term rental property that cash flows.

And I actually guarantee that as part of this mentorship program, so if you are interested, just click the link down below schedule a quick 15 minute call with me. And I'd love to discuss more and see if we might be a good fit to work together. And I'm going to help you to work closer towards your financial goals. So again, let's talk now about how we actually find these deals in whatever market because right now we're buying properties for short term rental, we've got to in the last couple of months here, and we have plans to expand to much more.

So let's talk about how we find that number one method is on market properties is the one that most people are familiar with. Unfortunately, this is the one that most people lean towards, but is the least effective overall. So on market properties are going to be those properties that are just listed on the MLS with a realtor. Now you can go and have your own realtor that feeds you listings or you can also just give yourself a slight leg up by going in being your own realtor. And then that way you can work with the sellers agent who will probably double and deal and therefore give you a little bit of preferential treatment. Again, more details on how all that works.

If that doesn't, you know if that you don't know what I'm talking about, then just go ahead click that link down below, we can talk more about that on the call. But on market deals are going to be deals that you find on the market and even look for ones that are and kind of search through and try to find some they've been sitting there for a while so you can get a better deal on it. And sometimes you'll also find properties that are just undervalued because they are exceptionally good for short term rental use. But not many people are aware of that. But all market deals tend to be the highest price and the most over over competitive.

So you tend to find the lowest number of actual good deals on the market, you got to think when you're buying a property on the market, you're right off the bat paying a 5% premium for that property. Because the realtors on both ends have gotta eat right, they've got to get their money. And that adds up to 5%. Now on the home purchase of a home, that's a pretty sizable chunk of change can be the difference between a good deal and a great deal or a good deal and a bad deal. So that's one thing, but you have to also consider the fact that now you're paying another premium for that property just because of the fact that you're competing with other buyers.

Naturally, when there's more demand, it means the price is going to go up. So when you're competing with other buyers, that price is going to go up, you're going to pay a premium for that property. That's one method. Now the other method is off market properties. And there's actually a couple of different methods within that method for how to actually find these off market properties. Now off market properties are what some of you might be familiar with, or you might not know what I'm talking about. And you know, really what this means is you're buying properties that aren't listed on the MLS, they're not listed with a realtor, and so you're not getting paying those premiums.

You know, there are plenty of people out there that want to sell their homes want to sell it quickly. But they don't want to go on listed with a realtor for any number of reasons. Right now, a lot of people don't want to list because they don't want people coming through their homes because of COVID and everything. A lot of people also just don't want to have people coming through their homes in general, if they're elderly. They don't want to deal with the hassle. They don't think that they know how do they don't want to go through the timing. There's all these different reasons why a person might want to sell their home but not want to do it through a realtor.

And so that's when they sell the property privately. Now some of you will just list their home for sale on Craigslist or Kijiji, and you can find private sales that way. Another way is through wholesalers that tends to be kind of common, where there's people that go and find these deals for you and then sell them to you in exchange for a fee. Now that fee means that you are gonna be paying a premium for that property versus if you had just found out Property yourself contacted come across that sell yourself and pay them directly. So you are gonna again pay a bit of a premium with those wholesalers.

But that is one method that can work. But by far the best method is actually bypassing all the middlemen and going straight to the sellers if you have a method, and we have a few different strategies that Riley and I use in our investing business that you can use to go and actually find these off market deals before anyone else does an offer to buy those properties from the property owner directly the current owner of the property, then you can cut out all the middlemen cut out the Commission's cut out everything and have no competition at all. That means that in whatever market condition, you can buy properties at a steep discount over what everyone else is paying for them.

So now when you do that you're positive equity in that property right off the bat. That means that now you can turn around and sell that property right away and make a profit if you wanted to. But if you want to do something different with it, like a short term rental strategy, even better, that's where all the best success most successful real estate investors make their money is buying these off market properties. They're getting a really good deal. Any good good real estate investor knows that you make money when you buy and to do that means you want to buy low, you want to buy properties that are on sale, and off market properties are the way to do that.

And again, if you want the exact strategies that Riley and I use in our business to find these off market income properties to purchase, then go ahead and click the link down below and set up a quick 15 minute call with me, I'd be happy to talk to you more about how we might be able to work together in a private mentorship program that Ryan and I are going to be running over the next six months showing people absolutely every step of our process how we're able to buy these properties, furnish them, set them up, renovate them, the whole nine right through to getting them performing in the top 5% of Airbnb properties and earning a crazy good ROI.

So again, if you want to learn exactly how we do that and be able to do that for yourself and get your first or your next cash flowing short term rental property in the next six months here, then click that button down below in the description schedule a quick 15 minute call with me and we can talk more about how to make that happen. I hope this video has been valuable to you. I hope you've gotten some insight on how investors are out there getting great deals in market conditions like this. A lot of people go into it thinking that they can only buy when the market takes a nosedive.

But the reality is that age old adage of you know time in the market always beats timing the market still holds true with real estate. So hope this has been a valuable video to you. If it has been then click that like button give me a thumbs up I really appreciate helps you tremendously with YouTube's algorithm. So if you take a second just hit that like button, I really appreciate it. Also subscribe to the channel. If you are new here and you haven't yet subscribed, hit that subscribe button. We do post two new videos every single week. Until next time, see you next