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It’s funny—my first taste of property investing wasn’t glamorous at all. Years ago, I drove two hours to look at what amounted to a crumbling duplex, desperately hoping I could see opportunity where most saw an expensive problem. That experience taught me something essential: in real estate, what looks like a dead end is often just an unpaved shortcut. Today, I want to share the little-discussed tactics and offbeat thinking that turn ordinary investors into deal-spotting pros, from flipping paper (not houses!) to digging into markets most ignore. If you’ve ever wondered where the real opportunity hides, you’re in the right place.
Section 1: The “Wider and Deeper” Philosophy—Beyond Your Backyard
Why Most People Play It Safe (and Why That’s the Problem)
Most new investors are told to stick close to home. The advice is simple: buy your first property within 50 miles of where you live. The logic is sound—if something goes wrong, you want to be able to drive over and handle it. This is especially true for beginners in real estate investing strategies. But here’s the catch: when everyone is looking for the same deals in the same neighborhoods, competition skyrockets. Prices go up, good deals dry up, and the returns shrink. Playing it safe can actually be the riskiest move of all because it limits your options and exposes you to crowded markets.
Risks and Rewards of Going Outside the 50-Mile Radius
Venturing beyond your backyard opens up a world of alternative investments. But it’s not without risks. If you buy a property far from home and run into trouble—a bad tenant, a maintenance emergency—you might find yourself booking flights or hiring expensive help. That’s why, for your first deal, I still recommend staying local unless you have a trusted partner or deep market knowledge. However, once you have some experience, expanding your search radius can reveal investment opportunities others overlook. The key is to balance risk with reward, and to use creative property investing techniques to minimize your exposure.
Case Study: Reno, Nevada’s ‘Forgotten’ Apartment Goldmine
Let me share a real-world example of how going wider can pay off. San Francisco is a hot market—everyone wants in, and prices for an 8-unit apartment building can easily hit $1 million to $2 million. But just four hours away, in Reno, Nevada, similar properties are available for much less. One of my students found an 8-unit building in Reno at a price that seemed like a bargain compared to San Francisco. He realized that while Reno’s market was quieter, the demand in San Francisco was so high that buyers there would see the Reno property as a steal.
So, he advertised the Reno property to San Francisco investors. The response? His phone rang off the hook. By bridging the gap between two markets, he created value out of thin air. This is the essence of flipping properties: finding mispriced assets in one market and connecting them with buyers from another where prices are higher.
Personal Tangent: The Property I Almost Didn’t See—Until I Did
I remember a time early in my career when I almost passed on a property just outside my usual search area. It was a small multi-family building in a town I’d never considered. At first, I dismissed it—too far, too unfamiliar. But something made me dig deeper. I researched the local market, talked to a few agents, and realized there was less competition and more motivated sellers. That deal turned out to be one of my best early wins. It taught me that sometimes the best investment opportunities are just beyond the edge of your comfort zone.
How Creative Marketing Flips Local Deals into Big-City Opportunities
One of the most powerful real estate investing strategies is to market properties where the demand is highest, not just where the property is located. In the Reno example, my student didn’t just buy and hold—he used creative marketing to flip the deal. He didn’t even need to own the property outright. By securing the rights to buy with a small earnest money option (sometimes as little as $100–$3,000), he controlled the deal with minimal risk. Then, he sold those rights—what’s known as “flipping paper”—to a cash-rich buyer in San Francisco.
This approach is at the heart of alternative investments. You don’t always need to own the asset; sometimes, controlling the contract is enough. As I often say:
“If I don’t have [money], somebody does and I can show that somebody how they could take advantage of my knowledge.”
By thinking wider and deeper, you can thrive in any market—even when others fold. The secret is to look where others aren’t, connect the dots between markets, and use creative tools like earnest money options to minimize your risk and maximize your upside.
Section 2: Digging Deeper—Unearthing Motivated Sellers and Avoiding the Competition Herd
Why You Shouldn’t Rely on Foreclosure or MLS Lists
If you want to buy rental property and build real rental income, you need to stop following the herd. Most new investors start with foreclosure listings or MLS leads. These are public, easy to access, and—frankly—picked over by everyone else. The reality is, by the time a property hits those lists, dozens of investors have already seen it. The competition is fierce, and the odds of finding a true deal are slim. Most people are too lazy to do the hard work themselves, so they pay for lists or rely on real estate agents. But if you want to build a strong portfolio strategy, you have to dig deeper.
The Hidden Power of a ‘Buying Farm’—One Mile Square
Instead of chasing the same leads as everyone else, I focus on a specific target territory—a “buying farm.” For me, this was a one-mile square area just below Brigham Young University. There were about a thousand properties in that zone. I knew, based on market fundamentals, that at any given time, about 1% of those owners would be highly motivated to sell. That’s 10 properties. My job was to find those 10 before anyone else did.
I went to the county courthouse and pulled tax records for every property owner in my farm. I mapped them out on my wall. This wasn’t glamorous work—it took months. But this is the kind of research and personal outreach most investors won’t do. And that’s exactly why it works.
Results-Generating Activities: Making Offers and Handling Rejection
Here’s the truth: “Most people don’t do enough to get a result. A results-generating activity is I got to make an offer and I got to get a rejection.” Too many investors spend all their time preparing—analyzing, mapping, reading, but never actually making offers. Looking at data is not the same as taking action. If you want to buy rental property and grow your rental income, you have to get comfortable with rejection. If you haven’t made an offer and gotten a “no,” you haven’t done enough.
Practical Example: Mailing 100 Letters for 1-2 Real Leads
Let me give you a practical example. After gathering my list of owners, I set up a direct mail campaign. I sent 100 letters to property owners in my buying farm. This cost me about $100. In most markets, you can expect a 1% response rate. That means, out of 100 letters, maybe one person will call you back with a property they want to sell. Sometimes you get two. Most of the time, you get 99 rejections or no responses at all. But that one motivated seller can be a game-changer for your portfolio strategy.
Analysis Grid: Scoring Properties, Not Guessing
When you get a lead, don’t just guess if it’s a good deal. I use a simple scoring system—an analysis grid that rates each property from 1 to 15 based on five key factors:
- Location
- Condition
- Financing
- Flexibility
- Price
If a property scores 11 or higher, I know it’s worth pursuing. If it’s 10 or less, I move on. This keeps my property management and acquisition process focused and data-driven, not emotional.
Tangent: The Time I Got 50 Straight ‘No’s—But Number 51? Game-Changer
I’ll never forget the time I made 50 offers in a row and got nothing but “no.” It was discouraging. But on offer number 51, I landed a deal that changed my entire approach to real estate investing. That one property brought in steady rental income and set the foundation for my portfolio strategy. The lesson? Persistence pays off. The only way to thrive when others fold is to keep making offers, even when it feels like you’re getting nowhere.
“Most people don’t do enough to get a result. A results-generating activity is I got to make an offer and I got to get a rejection.”
Going deep means doing what others aren’t willing to do: research, personal outreach, and consistent follow-up. If you want to buy rental property and build lasting rental income, focus on your buying farm, dig through ownership records, reach out directly, and make offers relentlessly. Even 99 rejections are worth it if number 100 is a winner.
Section 3: Creative Risk, Unconventional Mindsets, and The Window Shopper’s Edge
When it comes to real estate investing strategies, most people play it safe. They look for properties within their budget, follow well-trodden paths, and rarely venture into the unknown. But the greatest investment opportunities often hide just outside the boundaries of what feels comfortable. Sometimes, capital appreciation and outsized returns are reserved for those willing to take creative risks and adopt unconventional mindsets.
The Power of Window Shopping: Branson’s Island Gamble
Let’s talk about Sir Richard Branson and Necker Island—a story that perfectly illustrates the window shopper’s edge. Branson, long before he was “Sir,” was a broke young entrepreneur with a big dream. He and his girlfriend decided to “go window shopping” for islands in the Caribbean. They couldn’t afford even a fraction of the asking prices, but they went anyway. Most people wouldn’t even bother looking, assuming the doors were closed to them.
When Branson found Necker Island, the asking price was £5 million—a sum that might as well have been £50 million to him at the time. But instead of walking away, he made what most would call a “ridiculous” offer: £200,000. The broker was not amused. Branson was politely shown the door, but he left his offer on the table with a simple message:
“If you ever feel like you need it, let me know. I’ll be here... but I’m not trying to offend you. It’s just that I want to win and this is how I win.”
Months later, when the seller was under pressure and no other buyers had materialized, Branson’s offer didn’t seem so ridiculous. He ultimately purchased Necker Island for a fraction of the original price. This is the essence of the window shopper’s edge: by exploring opportunities that seem out of reach and making respectful, low offers, you open doors that others never even see.
Why Low Offers (Respectfully) Open Doors
Many investors are afraid to make low offers, worried about offending sellers or ruining their reputation. I’ve been there myself. I once made an offer on a property that was so far below asking price, I was sure I’d be blacklisted by every broker in town. To my surprise, not only was my offer not resented, but months later, when the market shifted, it was accepted. That deal became one of my best for capital appreciation.
The key is to approach these situations with respect and transparency. Unconventional offers aren’t disrespectful if made thoughtfully. Explain your reasoning, reference market fundamentals, and let the seller know you’re not trying to insult them—you’re simply playing to win. Sometimes, being bold and persistent is rewarded, not resented.
Pragmatism Over Optimism: The Business Buyer’s Mindset
There’s a big difference between speculators and disciplined business buyers. Speculators chase trends and hope for luck. Business buyers, on the other hand, stay grounded in market fundamentals and focus on buying wholesale, not retail. They’re willing to walk away from bad deals, no matter how tempting the story or the potential upside.
This pragmatic approach is what separates those who survive market downturns from those who fold. It’s not about blind optimism—it’s about calculated risk. Consistently making low, reasonable offers—even if most are rejected—can open up investment opportunities that seem unattainable at first glance. Over time, this discipline leads to better deals and greater capital appreciation.
Closing Wisdom: Opportunity Dressed as Discomfort
Real risk in real estate investing often looks and feels like discomfort. It’s uncomfortable to make offers you think will be rejected. It’s uncomfortable to explore markets or properties that seem out of reach. But that’s where the upside lives. Window shopping—browsing opportunities that feel beyond your grasp—often reveals hidden value and market trends no one else sees.
If you want to thrive when others fold, embrace creative risk and unconventional mindsets. Make the offer, even if it feels bold. Leave your card, even if you’re shown the door. Remember, real opportunity is often just risk in disguise. The next time you’re tempted to walk past the “Tiffany’s” of real estate, step inside and take a look. You never know what doors might open.
