Just received the funniest listing in San Francisco last week. We really didn’t want the vacant listing when we were walking up to the front door, it was in a poopy area of the City and it was a little rundown. Three minutes into the meeting with the seller, as I was about to tell her we weren’t a good fit, she threw the keys at me, said send her the paperwork at whatever price works, said good luck and walked out the door.
My partner and I looked at each other with a “WTF” just happened look on our faces and laughed.
And I got this listing from working with a very special class of sellers.
Developers in your city can be a great source of listings. Especially if you cozy up to them.
And there is no better way to cozy up to them than to find them developmental projects.
What I have always done in San Francisco is find developers who will work with you once you find them a project and then they redo the property and then list it with you.
And what’s key is to find a developer that is loyal to you if you find them the project.
And if you find them a property, you can represent them as the buyer of it and then represent them on the sell side. BOOM!
I have been working with this one company for years. I found them one rundown house in the city. I listed and sold the finished product and made them a lot of money and they have been loyal ever since.
So find developers in your area and introduce yourself to them.
And there is no better intro to a developer than to tell them you have this great piece of property that is prime for rehabbing.
So keep your eyes open for rundown properties and show them to your local rehab guys and make friends and listings for life!