I’ve been hearing this a lot lately, both within my members club and from clients reaching out to me: “Natasha, there’s no good properties on the market right now.” If this resonates with you, you might be looking too broadly and not making the best decisions. Here’s how to overcome this.
Take a Break from Searching
First, if you feel there are no good properties on the market, stop searching for a bit. Give yourself a week off. Set a diary reminder for the following week to start searching again. This break can help clear your mind, which can become saturated from constantly sifting through deals.
Organise Your Deal Inquiries
During this break, don’t delete emails or search requirements. Instead, let them go into a specific folder in your inbox. For example, we have a Deals@ inbox where all property leads go, accessible to my entire team. This way, someone is always looking at the deals, but we also take breaks to avoid getting overwhelmed.
Start Fresh with Recent Deals
After your week off, you’ll have a deals inbox likely full of search alerts and new listings. Delete any emails older than 48 hours to start fresh with the most recent opportunities. There’s no point in reviewing older deals, as they might have already been snatched up or will come back on the market if they didn’t sell.
Focus on One Location
Next, focus on one specific location. Choose an area where you already have some knowledge or are willing to invest time to understand thoroughly. Review your goals and budget for that area and what yield you expect. Rewriting your goals can provide clarity and focus.
Connect with Local Agents
Make a list of all the agents operating in your chosen area. You can update your search alerts on platforms like Rightmove, Zoopla, and LoopNet to reflect this focus. Contact these agents to let them know you are actively searching in the area. Initially, you might not get many leads, but knowing who to talk to at each agency is crucial.
View Properties in Person
When you start viewing properties, do it in person. Seeing properties firsthand allows you to get a feel for the market and helps agents recognize you as a serious investor. Even if your offers aren’t accepted initially, making them shows you’re active in the market.
Track Market Movements
Keep track of everything that moves in your selected area. Write down any properties that come to market, sale prices, and rental listings. This practice will help you become an expert in that area. In the first few weeks, you might not find anything, but persistence is key. Over time, as agents become familiar with you and your requirements, you’ll start finding deals.
Narrow Your Search
Often, clients struggle to find good properties because they are searching too broadly. No one can have a comprehensive understanding of the entire market. Focus allows you to gather more detailed information, making it easier to spot a good deal.
Expand Your Knowledge Gradually
Once you acquire a property in one area and build knowledge, you can expand to a second area. Over time, you’ll accumulate knowledge about various locations, but this doesn’t happen overnight. It takes consistent effort and time.
Be Prepared for a Long Search
Expect not to find anything immediately. Prepare yourself for a prolonged search. Record your activities daily. Note how much time you spend and what you did, whether you found any properties, and the outcome of those leads. This record will help you see progress over time.
Make Offers and Follow Up
When you resume your search, put in offers, even cheeky ones. Explain why you think a property is worth a certain amount and keep an eye on it. Often, deals that don’t sell initially come back on the market. If the seller’s agent contacts you later, be ready to re-engage.
Don’t Second-Guess Rejections
Don’t second-guess why a deal might have fallen through. Ask the agent if there were any issues, but don’t let it cloud your judgment if it doesn’t affect your deal analysis. Far too many people give up on deals because of what others think. Focus on what you believe a deal is worth.
Consistency is Key
Remember, no one successfully completes a deal every week. Everyone operates on their own timeline and only offers on properties they want to buy. Don’t compare your journey with others. Consistent effort, even 15-20 minutes a day, adds up.
Train Yourself to Spot Good Deals
Often, the issue isn’t the lack of good deals but not training yourself to spot them. By focusing on one area and consistently putting in the effort, you’ll start finding good deals in your inbox.
You can catch previous blog posts here and listen to the podcast here.
