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so how do you build a good deal flow system that's what we're discussing today hi my name is Tim diesel and I'm a commercial real estate consultant this channel is designed to give you tips and strategies in your business to grow your portfolio if you're a broker this will definitely help your clients as well alright let's get right into it so I want to help you get a good deal flow system doesn't matter what kind of properties you're looking for what kind of market you have to have enough deal flow coming at you to make some good decisions right so the first and my favorite one our brokers you got to get commercial real estate brokers that will help you doesn't have to be me it can be anybody you want to have a good 3 to 5 of them that's really that's the number you want to go depending on how aggressive you are right what parts of the country how plentiful the deals are you want to have a good steady stream of deals and you figure if you have three maybe five brokers giving you deals then you should have a good selection of deals coming at you and it will be good enough to evaluate what's a good deal what's a bad deal you know if you only have one might be at a disadvantage because maybe he focuses on a certain market certain area you just never know but you don't to have too many no need to have like 10 or 15 that's just crazy 3 to 5 is all you need and they will send you some of the good deals coming in don't worry about the off market on market you need good deals it doesn't have to be off-market deals you just need a good deal coming at you so it was on the market when in a contract it fell out it could still be a good deal just because it's on the market doesn't mean it's a bad deal the only off market has that stigma of nobody else knows about it which is also not true because if I ever have an off-market deal I've already told four or five of my handful of the top-flight clients so just you need to have a good amount of deals coming in from different brokers so that's my first one for you all right the second favorite I have is property managers I've talked about this before property managers have the inside knowledge that most other real estate agents or brokers may not have because they've been managing the property they got the tenants in there even if they're doing a good or a bad job they know more about the property a lot of times in the owners so having a good amount property managers you talk to them you work with depending on what type of property manners of a managers they are so if you have a single-family home a lot of times you're gonna have a property manager who is also a real estate agent right and they're just probably renting it out for a couple of clients or whatever the case is now if you're scaling and you're looking at a 10 2015 30 50 unit building commercial property they might be licensed but there are many times where they refer those deals out because they are just not geared up to list advertised market that's just not in their business model a lot of times it's not what they do and they refer those deals to other commercial brokers right if you are coming on as the buyer they would almost even love that more because you're cutting out the middleman you're going directly to the source so get on their list talk to them once in a while be involved in their database hey I know you just acquired this property a year ago how's it looking what's happening they manage more than one property that's not the only property they manage so get a few of these and you'd be surprised at some of the opportunities that might come your way if the seller or the owner wants to sell it's very lucrative for them to say hey you know what I know this guy he's probably interested let me reach out to him you want to be that guy because there's not a lot of people doing that and that's the second good one for you all right my third and final tip is business owners now this works for commercial properties if you know business owners a lot of time I found these business owners own the building where they probably bought the retail investment and they say hey you know what I'm gonna operate out of this building and I'll just have everyone else paying me rent and if you know that business owner and you have the inside track on when they're selling it you could be in for really position yourself for a good outcome because most people don't know where to go maybe the guys owned it for five ten twenty years now he's thinking it's probably time to let it go he doesn't know where to take it if you're approaching him and you're looking to buy he might talk to you so business owners are real big source and no one really is looking at a whole ton of business owners nobody's calling brokers or buddies trying to call certain people who own property and they're looking for these deals business owners a lot of times they just kind of slip through the cracks and they get missed but a lot of these business owners owned the property or they own other properties and that's a really good done a good source to have all right so that was three good quality tips that I really hope you use to your advantage I have implemented these strategies and I continue using these strategies in my business to help other clients and myself and they are very very beneficial if you use them get a handful of these and if you do this right you'll have more deals coming to you then you know what to do with because if you stay on top if you follow up and you just reach out periodically you'd be surprised at some of the deal flow that starts coming to you so the first thing you want to do is start developing your deal flow system you got to have deals coming in before you start you don't want to get in the habit of starting to look for deals every time you want to buy something you want to have them coming in and even if you're working on one want to have one on the backburner you just want to have these deals coming in so I hope that was helpful now I want to know what kind of systems you use comment below let me know what you're taking advantage of maybe you have something I've never heard of I'd love to know about it like this video subscribe to this channel leave me your comments and your questions I love helping you out let me know what you need help with if anything and thank you guys so much for watching I really appreciate it