How to Find The Best Real Estate Deals in 2023 | Ep 157

This episode with returning guest Justin Green, CEO of Green Investment Group was inspiring! Justin launched his business in 2012 and the firm exists to aid homeowners facing difficult situations by purchasing and redeveloping their properties.

Justin, a former high-school teacher, entered the world of real estate in 2012 and quickly built up a robust portfolio by being a “deal engineer”, using such strategies as off-market deals, wholesaling, the BRRRR method, and fix-and-flips.

Listen in as Justin shares his favorite strategies for sourcing off-market deals, communicating with owners of distressed properties, and managing the many moving pieces when negotiating with the heirs of probate properties.

Highlights
1) Once you find a good deal (such as for a distressed property), you have several opportunities to choose from to maximize profit, from wholesaling to a fix-and-flip. Investing at retail price severely limits what you can do with that property.

2) Successfully navigating rising interests lies in knowing your numbers. A good rule of thumb is to make sure that your total project cost—including sale, acquisition, and construction budget—does not go over 70% of the after-repair value.

3) You’re more likely to partner with a private lender when demonstrating experience by inviting them to see one of your projects through to completion to demonstrate your value. Consider connecting with brokers as well, many of whom have a network of private lenders.

How to find him
Instagram - @justinismycoach

Justin's first episode- https://youtu.be/YMESVI43JWU

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Timestamps
0:56 - An introduction to Justin

4:02 - The advantages of buying a discounted or distressed property

6:09 - Sourcing off-market deals

8:01 - How to communicate with the owner of a distressed property

11:52 - Navigating rising interest rates

16:31 - Why it’s important to build rapport with property owners

19:00 - What to do if the property owner won’t budget on an unrealistic price

21:52 - How Justin manages hundreds of monthly leads

23:19 - Delegating and outsourcing tasks

26:41 - Making the transition from single-family to multifamily

34:50 - Finding private lenders

37:30 - Dealing with a probate property

44:06 - Challenges in communicating with property heirs

47:27 - Justin’s plans for the future of his business

#philadelphiarealestate #phillyrealestate #offmarketdeals #realestate