Are you one of those investors chasing after highly-coveted off-market deals? As they’re not advertised publicly, off-market listings are a challenge to find for many investors. But given how potentially lucrative off-market deals can be, the extra effort, determination, and patience required to find and acquire off-market properties are well worth it.
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In this concluding episode of our two-part interview with Paul Wakim, founder of tech startup TwnSqr, we break down the process of finding off-market deals. Paul lays out a step-by-step guide and shares some proven strategies for sourcing off-market properties. Listen until the end because Paul gives a rundown of the best tech tools, apps, and websites that can help you scoop up deals in otherwise competitive and high-value markets. Click now and you’ll also learn how TwnSqr helps investors improve their real estate business.
Key Points From This Episode:
- Paul’s step-by-step guide to sourcing off-market deals.
- What are some strategies for finding off-market deals?
- What are some challenges in sourcing off-market deals?
- What are the best apps and websites for finding off-market deals?
- How can TwnSqr help investors improve their real estate investing business?
- Paul shares plans for TwnSqr’s next round of fund-raising.
- What would Paul advise his younger self knowing what he knows now?
- Paul’s predictions on the real estate market for the next six to twelve months.
- What is the biggest thing that hinders Paul from scaling?
- What are the most important metrics that Paul tracks?
- The habits that have produced the highest return for Paul and the number one contributor to his success.
- Paul’s contact information.
“The slow, more targeted approach in finding off-market deals has always been more successful for me.”
“Walking around your neighborhood and going directly to the source, the county tax assessor, is probably going to work out best for you.”
“We’re pushing for more professionalism, more standardization, and more legitimization in our marketplace.”
“Make sure that the structure of your life outside of work is good so that whenever you sit down at your desk, and you write down the things you have to do every single day in your notebook, you can actually get those done.”
About Paul Wakim
Paul got started in the real estate industry in 2016 right out of college when he and his then-girlfriend Shannon (now wife), started a real estate photography business with a drone that she had bought Paul as a graduation gift. Paul was absorbing tons of knowledge about real estate investing from podcasts, agents, and investors he was dealing with and eventually decided to get his real estate license in 2017. Through being an agent, it dawned on him – there is no real estate without a seller, and all the sellers he talked to as a photographer and agents were selling their homes for the same 5 or 6 reasons. It was around this time in 2018 that Paul taught himself how to code in Python to create an algorithm to predict who was going to sell their home next by identifying people who showed signs of those 5 or 6 common selling traits. Later, he met his great friend and TwnSqr co-founder, Mitch Tracy while rock climbing. In mid-2019 Mitch quit his job to come work on TwnSqr full-time to refine and drastically improve the algorithm.
Through trial and error, Paul and Mitch ended up with the version of TwnSqr that we have today – the premiere off-market property dispositions tool that connects real estate investors with one another and, eventually, the largest institutional buyers in the world. Their goal is to support sellers, investors, and buyers of all sizes through world-class technology.
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