Daniel R. created a business which allowed him to leave his job as a day worker and become a full time real estate investor. It only took a bit of focus, consistency and, of course, a good recipe.
It’s helpful to have an organized plan for finding and closing deals, whether you’re new or experienced. Sundae began with Edge, his premium membership. He’s already closed deals with huge upside since upgrading.
Daniel’s business has reached new heights thanks to his well-thought-out strategy and the lessons he learned along the way. He’s now sharing his knowledge so others can learn from his experience. Learn his success secrets.
Create success criteria
When you learn more about Daniel’s model of business, the phrase “the niches are where the riches are” springs to mind. He began by focusing on one type of investment property. It’s really a simple formula.
- The worst house is in a good neighbourhood
- School districts in high demand
- Highways are easily accessible
These criteria provide assurances, regardless of the state of the economy. He knows first that a good school district is always in demand, especially for parents.
Second, Daniel does not rely solely on the market appreciation. He focuses instead on forced appreciation through extensive renovations. He looks at the spread when evaluating a deal to see if it makes sense. If not, he will move on.
Double-down on your niche and purchase box
Daniel believes in sticking with a specific buy-box. He stated that “chasing every shiny opportunity as an investor is a surefire method to fail.” Finding a niche to focus on will help you build your expertise and knowledge in that field.
He has become an expert by focusing his attention on a particular type of property or location. You can also know what’s not in your wheelhouse by knowing what you are good at. Daniel, for example, said: “I avoid 80s houses with weird layouts.”
It is easier to reproduce success when you have a set of criteria to follow. He has been able to automate much of the process, so contractors are aware exactly what they need to do once they arrive on site.
Time is money
Daniel, a Atlanta resident absolutely hates the traffic. It could take an hour to get from one end of the city, or even two. He said, half-jokingly, “I won’t accept a deal 45 minutes away.” It’s a testament to how little I like driving. Time is a limited resource and must be protected. The extra time spent driving to view properties would have a negative ROI.
In the world of property investing, time is money. It’s important to set up a system for quickly finding and closing deals. When you are working on a real estate property, it’s important to use your time efficiently.
Sundae gives you back your time
Sundae provides a wide range of due diligence materials to investors in one location, saving them time.
- Photos of the interior and exterior of a property
- 3D Tours
- Home inspection reports and title reports
- Floor plans
Daniel doesn’t waste time driving around town looking for properties. Instead, he uses Sundae to find specific areas that meet his investment criteria. This method has allowed him to close deals more quickly, and without having to spend hours on the telephone or driving around.
Edge is a time-saver for Daniel. The essential membership provides convenience, but Edge also saves him more time. He estimates that Edge saves him about 50 hours per month.
- AutoOffer allows the bidder to specify his criteria, and then walk away up until the final hour of bidding
- The mobile app allows him to be anywhere he wants, whether it’s on a construction site or in a meeting with contractors
- Sundae’s historical data proved to be effective in narrowing down his buy-box and informing his offer decisions
Together, these features have allowed Daniel to free up one week of work hours. Imagine how much more time you’d have if you had 50 extra hours in your schedule.
Investing in products to scale up your business
You expect a return on your investment. Edge’s one deal pays for the product 10 times over. Daniel praised the product and said that he wished it was more expensive. It would still be worth it to me, but I wouldn’t have any competition. “That’s how valuable it is to me.”
Daniel credits Sundae for a significant part of his success. He claims that Sundae has saved him time and money through streamlining his process of finding and closing sales. How he uses Edge.
A winning game plan
Daniel applies a little game theory to his AutoOffer offer range. He knows what he wants to pay and can predict other investors’ behavior based on the bids they make.
We agreed to keep this information secret. We can tell you that AutoOffer helped him save $12,000 on his previous deal. He won a deal in a growing neighborhood with an excellent school district, which fit his criteria. After all was said and done, the property netted him $150,000.
Edge was able to pay for itself with this one transaction at a fraction of what he would have spent on savings and profits.
Upgrade your system?
Daniel’s story shows what is possible when you are willing to put in the work and use the proper tools.
Sundae Edge can be a powerful tool that helps you find and close deals faster. With Sundae, you can stay ahead of your competition.