Welcome to the Pocket List, investors 👋

Let’s make some money today, shall we?

First, let’s check in on mortgage rates…

The 411 on rates… Just in time to ruin everyone’s week, rates inched up above 7%. There weren’t any major catalysts to point to.

THE LEAD

The art of (finding) the deal(s)

Repeat after me: “we are only as good as the deals we can find.”

Real estate investing isn’t just about finding deals, it’s finding good deals. And, most importantly, finding them before every one of those slimy competitors of yours.

Today, I’m sharing some different ways I’ve found deals in the past…

Wholesalers

These are the guys that find undervalued properties, get them under contract, and then assign or sell those contracts to people like you and me… for a fee.

Assuming they’ve already beat you to the deal, it’s worth building relationships with reputable wholesalers in the target market. They’ve got plenty of that sweet off-market deal flow.

Networking

'dUh mR. POckET LiSTIng!”

It probably sounds obvious, but real estate is a relationship game. Sure, you should hit the local circuit (investment club meetings, networking events, online forums etc.).

But don’t just show up (or be a lurker)…was,

Provide value. Make real connections. Grab drinks after. Whatever you have to do.

One of the best pieces of advice I saw recently was, "Spend 20 minutes every Monday morning sending 10 check-in emails. No agenda. Just saying hi.” (Ok, maybe there is a bit of an agenda)

“Driving for dollars” (I kinda hate this term, btw)

My first kid only slept in the car. I’d use that as a chance to check out neighborhoods. I’d keep an eye out for vacant properties, lawns getting overgrown, and damage that was piling up. Those can be telltale signs the address is worth checking out.

Technology is your friend

Zillow isn’t the only option, you guys.

There are some pretty powerful research tools like Propstream that help you find leads.

And there are a bunch of sites and platforms that will do the heavy lifting for you. For a few hundred bucks, you could get your hands on exclusive off-market listings from companies that specialize in matching leads.

💭 Mr. Pocket Listing says… Find what works for you and your market. And when you do, double and triple down on it.

WHAT ELSE?

More headlines I’m keeping an eye on…

• Wells Fargo Bet on a Flashy Rent Credit Card. It Is Costing the Bank Dearly. (Read)

• Short-term rentals assure cash to building owners — maybe (Read)

• American households have seen their purchasing power increase (Read)

• No, Boomers Didn’t Have It Easier Than Millennials When Buying Their First Homes (Read)

• Unlike others in the industry, Vanilla Ice stayed rich off real estate after music career took a nosedive (Read)

• The Fed’s latest interest rate decision could bring housing market to the ‘breaking point’ (Read)

• How much do you need to earn to buy your first home? Here’s what the typical home buyer looks like today. (Read)

Let’s get tactical…

• 7 Trends to Avoid When You’re Trying to Sell Your Home (Read)

• Should You Make a 15% or 20% Down Payment on a House? What You’ll Pay Over Time (Read)

• Strategic repairs and improvements can significantly increase your clients’ home values and appeal to potential buyers (Read)

• I’m a Realtor: These Are 9 Features That Sell Your Home Fast (Read)

• Why Successful Real Estate Investing Is All About Finding the Right Deal (Read)

Mr. Pocket Listing’s favorite property of the week (a guy can dream, can’t he?)…

PROPERTY TOUR

It’s time to get a pulse on markets around the country…

(1) Overland Park, KS dominated the list // The most sought-after destinations for renters this spring (Read)

(2) Massachusetts came in at #4 // Here’s How Much Typical Homeowners Could Pay in Interest Alone in Every State (Read)

(3) US // Cost of Renting vs. Owning a Home in Every State (Read)

SURVEYING

Last week, I asked, “Have you invested in real estate via an investment or crowdfunding app/website?”

68% of you said, “HELL NO.”

Here’s today’s question…

If you’re enjoying the Pocket List, make sure to share it with your friends and fellow investors. You can send them here to sign up.

One last thing…