How My Fiancé and I Found Our Dream House in the Perfect Neighborhood Next to the Brady Bunch House During the Competitive COVID-19 Housing Market (Off-Market)
Exploring potential neighborhoods: My fiancé and I identified the neighborhoods we wanted to live in and personally explored them. She walked or drove through these areas, making a note of approximately 3,000 small houses and fixer-uppers.
Gathering homeowner information: We hired a virtual assistant to research and compile the names and phone numbers of all the homeowners associated with the properties we had identified.
Initiating contact: I employed a full-time cold caller from Tijuana at @ $800 per month to contact homeowners, asking if they would be willing to sell their property at the right price without any commission fees.
Following up on leads: My fiancé diligently followed up with the leads generated from the initial calls for about 6 months.
Finalizing the purchase: We managed to buy a 1,200-square-foot house at $1,000 per square foot.
Renovating and expanding: We completely gut-renovated the 1,200-square-foot house and expanded it to 3,200 square feet, with construction costs averaging $350 per square foot. This allowed us to create our ideal home.
Creating equity: Through this process, we generated approximately $1 million in equity in a neighborhood where homes are still valued at roughly $1,000 per square foot.
This method can not only help you find your dream home but also serve as a blueprint for building a real estate investment business. The dollar amounts can be different, but the process remains the same.
For some, doing all this work might seem like a lot to create roughly $1 million of equity, but it wasn't for us.
We used IDIdata.com to obtain phone numbers, RingCentral.com as a dialer, and Podio.com as a CRM to manage the process.