Stop Making Offers! Here’s What to Do Instead with Erik Wright
In this hot housing market, it seems like almost everyone is telling you to make offers on anything that could be a potential deal. But Erik Wright, founder of New Horizon Home Buyers, poses a different strategy. Erik has been getting more and more off market deals in Chattanooga, Tennessee without offering a single dollar to potential sellers. He has a specific way of negotiating that allows him to get tens of thousands of dollars off of properties, making the deals even sweeter for him.
Erik didn’t always have the gift of negotiation. He started his real estate journey at 23 years old, buying an accidental house hack property, then buying a HUD foreclosure, a couple of duplexes, and some more single-family homes. Over the past decade, he has amassed a 7 unit portfolio and is currently transitioning into having New Horizon Home Buyers become his full-time job.
Through the use of search engine optimization (SEO), Erik’s company has become the top-ranking result when searchers type in “Chattanooga cash home buyer”. This proves that even in a business like flipping, BRRRR-ing, or wholesaling, you can still find new ways to optimize and upgrade your lead generation efforts, even if you have ZERO experience in something like SEO!
In This Episode We Cover
Why house hacking is a rookie investor’s best friend
Buying a HUD foreclosure and how it differs from regular home sales
Financing a growing real estate portfolio without a W2
Using referrals of other investors to find the best contractors around
How to rank #1 on google so you can get more off market deals
Getting below-market prices without ever making an offer on a house
And So Much More!
Links from the Show
Check the full show notes here: https://www.biggerpockets.com/rookie93