In the real estate investing game, patience can be a profitable virtue Heard from a listing agent today about a deal I’d put an offer in on two months ago. At the time, she seemed quite confident my offer wouldn’t interest the seller. Undeterred, I kept in touch. Noticing (thanks to an automated system I’ve set up) a price drop in the listing, I sent an email yesterday, “just checking in”. 𝗡𝗼𝘄, 𝗮𝗳𝘁𝗲𝗿 𝗵𝗮𝘃𝗶𝗻𝗴 𝘀𝗲𝘃𝗲𝗿𝗮𝗹 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁 𝗳𝗮𝗹𝗹 𝗼𝘂𝘁, 𝘁𝗵𝗶𝗻𝗴𝘀 𝗵𝗮𝘃𝗲 𝗰𝗵𝗮𝗻𝗴𝗲𝗱. (Sometimes time is your ally) The agent wanted to know if a price drastically lower than asking and just a little above my earlier offer could work. We’re still in discussion, but as I think you can see, these are the kind of opportunities that come around only following diligent, friendly follow-up. Three steps to effective follow-up: 1. Keep track of all leads, even if just in a Google Sheets 2. Put leads into buckets like “Active”, “Watch”, “Offer Declined”, etc. 3. Put dates on all leads that could still turn into deals and take action on those dates. Occasionally, you get a deal that happens right off the bat. 𝗠𝗼𝗿𝗲 𝗼𝗳𝘁𝗲𝗻 𝘁𝗵𝗮𝗻 𝗻𝗼𝘁, 𝘁𝗵𝗲 𝗯𝗲𝘁𝘁𝗲𝗿 𝗱𝗲𝗮𝗹𝘀 𝗿𝗲𝗾𝘂𝗶𝗿𝗲 𝟱-𝟭𝟬 𝗼𝗿 𝗺𝗼𝗿𝗲 𝘁𝗼𝘂𝗰𝗵𝗲𝘀. What leads do you have that might be turned into a deal with a quick phone call, email or text?

Opened escrow on a new deal yesterday, as follows: Denver Northeast Park Hill 1942 Brick Ranch, 2/1 762sf + unf bsmt Was listed at $440k, now u/c at $305k ARV ~$450k fully finished Light rehab for retail, or as-is with some cleanup for rental May need a further price reduction during our 9 day DD Targeting a $10k assignment fee 🤞 Now on to the hunt for a cash buyer!

Been using ChatGPT for dialoging on negotiating, strategy, underwriting and more. Just completed my Claude Code setup. Now on to creating automated workflows that I believe could 5x my productivity.

Having done now over a dozen land deals, and making every mistake along the way, it seems like the systems I've developed by learning from those mistakes are finally paying off. Here's how it went: - Seller called from a ChatGPT reco. - PatLive took the call - 15 minute convo with the seller for property details and uncovering his motivation - 15 minutes to underwrite using LandInsights and PRYCD. - 10 minute convo with the seller to close. - Docusign signed and we're in escrow! I expect it'll produce a relatively small profit, but good practice as well. And systems already in place make the dispo part straightforward.

Just had to share this comment from an agent who shared with me her frustrations about a seller who kept refusing to take her advice on getting a few repairs done. The repairs needed, and a few other issues I shared with her, were repelling otherwise ready buyers. She asked me to outline the points I made so she could share them her with client. Kinda like when your kids won’t listen to you but will listen to an uncle or peer.