How to Locate Lucrative Opportunities
House Flipping Opportunities
In the house flipping industry there often are opportunities all around us, virtually knocking at our front doors. Problem is that sometimes we are so wrapped up in what we are doing, that we end up not noticing prime opportunities ripe for the picking.
Other times we are presented with an opportunity that just is not right for us at the present moment. It’s easy to write off these opportunities and forget about them, which believe me I am guilty of from time to time.
However I have recently realized just how important keeping an open mind is when it comes to new opportunities. I noticed that if I have an open mind, then I am more likely to spot opportunities and potential projects.
An open mind also helps me to find ways of tackling opportunities that initially did not seem feasible for me. Let me explain.
About a year ago I was presented with a fairly significant project on the island of Nantucket. To make a long story short the project did not end up working out. However I was able to create a solid contact and new relationship with a real estate agent who specialized in island real estate.
This particular agent then shared with me another project that she was working on. It was a 10 acre, beautiful plot of land in a wonderful section of the island. Again the opportunity sounded tempting, but it really was not the right move for me at that moment. Nevertheless I expressed some interest and made sure to show appreciation for the opportunity, her time and her energy.
Your Next House Flipping Deal Could be One Introduction Away
Well I hung onto those plans for over a year. Throughout the past 12 months I’ve been able to meet a lot of new people specializing in many different facets of the house flipping industry. One contact in particular that I have developed a good relationship with is a local land developer.
I happened to run into this land developer the other night at a real estate networking event. Wouldn’t you know it he told me he was actively looking for land and new developing opportunities.
I filled him in on the 10 acre project I had been presented with over 12 months ago. He was interested, so I called up my Nantucket real estate agent and scheduled a meeting. All three of us will be getting together during the middle of next week to discuss the plot of land, and the 27 potential house lots that we could develop on it.
I never cease to be amazed by how things come full circle!
I’m glad that I was initially very honest in turning down this deal and vocalizing that developing land was not my specialty. I remember telling her at the time that I would keep this project in mind, and re-connect with her if I ever found someone who was interested.
Of course here we now are, over a year later, taking the initial steps necessary to get this project underway. I may end up receiving a nice commission from the deal for connecting these two people with another, or I may even partner up on the deal. Either way I will be compensated well for simply remaining open to a real estate investment opportunity I was presented with in the past – incredible.
So always remember to keep an open mind. Opportunities to make money in the house flipping business are all around us.
See you at the top!
Mike
