Mr. Off Market Reveals Hidden Real Estate Opportunities

Ankur (00:00)
last three days if I tell you, I got about $18 million worth of properties and one is a 50 room motel. and then I got another $4 million project. got it in another location in Reading PA. I got another 84 units I’m about to go down with in Reading PA. So,

Kristen Knapp (00:04)
Wow.

Ankur (00:20)
When it comes to that, we’re doing a lot of high volume business it’s all off market,

Kristen Knapp (01:56)
Welcome back to the Real Estate Pros podcast. I’m Kristen and I’m here with Ankur Kapoor, who is the co-founder of Legacy Investment Property Group. So we’re going to get all into it. Thank you for being here today.

Ankur (02:06)
Yep, pleasure, pleasure. I’ve been excited

about this.

Kristen Knapp (02:09)
Yeah,

How did you get into the industry?

Ankur (02:11)
Well, before getting into the industry, I was an investor myself. So I was investing, but I realized I had to get my license to learn the nitty gritty, the lowdown of real estate, of the real estate industry. So I got my license to connect with some other agents. I started realizing that there’s such a big potential for off-market real estate and wholesaling on a different scale. A lot of people think that off-market and wholesaling is just getting deals that people

expired listings or Zillow listings that have been sitting for a hundred and something days. I decided, which is a very common fact, door knocking, which a lot of people hate doing, which is the easiest way to do it. So I myself started just hitting up doors in the beginning as an investor to pick up real estate for myself, my investors. And I realized if you do it the right way, with the right approach, not as an agent, as an investor, you have a much bigger upper hand on getting that piece of property.

Call it lucky or skill, whatever, but I ended up acquiring a lot of real estate. Therefore, I started calling myself Mr. Off Market. I like that name, sorry, why not? And that kicked off, and when that name kicked off, I had a lot of top investors from Jersey Tri-State reaching out to me, listen, what do you do? How do you do it? Get me this piece of property. A lot of people gave me their buy box of what they’re looking for. From there, I just started rolling in. The team got a little bigger.

Kristen Knapp (03:18)
you

Ankur (03:39)
couple of wholesalers on board, had a couple of great agents from all over the P.A., New York, Jersey, different areas that wanted to grow. I connected to them saying, listen, give me the zip codes in your area of the stress properties, what homes you think that need to be sold. My team and I will reach out to them, we’ll acquire it. From there it kicked off and we grew a network of investors, got few properties for ourselves, but the focus has always been providing investors with the

Exclusive off-market real estate which is not blasted on social media Which is not blasted on Facebook groups because by end of the day when you go on a lot of these Facebook groups And you see these these real estate off-market properties It’s still going out to hundreds and thousands of investors because there’s so many people there with us. It’s none of that. It’s 30 investors We know you wait which each investor is looking for and a lot of them are in different buy boxes

So my two to three hundred thousand going up to twenty million dollar ranges. So when I get a piece of property, I don’t blast an email. I have two people on this side, two people on this side I send it to. If they reject it, then I go somewhere else. I don’t like creating a bidding war amongst my clients because that there’s no point of being what we do then. So that’s how we got into it.

Kristen Knapp (04:54)
great.

That’s amazing. like, what kind of investors do you work with? ⁓ You know, is there a process for them to apply?

Ankur (05:54)
⁓ So yeah, so mostly it’s all about social media and a lot of word of mouth ⁓ I’m a little old school. I’m not very good with computer and stuff. That’s why I’m doing this call on the phone I’m very like ⁓ so I have a lot of like my investors my most of my business is either Instagram or referrals I get a lot of a lot of leads on social media people reaching out sending me their buy boxes and word of mouth is my second biggest asset and you know, so if

Kristen Knapp (06:04)
you

Mm.

Ankur (06:23)
I know you. don’t work with every investor because by the of the day, my reputation is the investors that I work with and the investor’s reputation is that the agent or the individual they work with. So I choose my investors very well. It’s got to be word of mouth. Even if you reach out on social media, there’s got to be credibility because everybody wants to invest. Everybody’s pre-qualified. A lot of people think they can get hard money. it’s a waste of time too sometimes and I’m very realistic with it. So I’d rather work with less

Kristen Knapp (06:44)
right.

Ankur (06:53)
and deliver more. So that’s what we focus on. Yeah. Yeah.

Kristen Knapp (06:55)
Totally. Yeah, absolutely.

That’s really awesome. I mean, how you build other people’s portfolios and really help them foster that. what you work in a lot of different locations, don’t you?

Ankur (07:06)
Yes, yes. So we work Jersey, Pia, New York, Florida, Arizona. And like I always tell people, if my investors could invest in hell, they’ll invest to make money. with, yeah, listen, we’re hustlers. Like, we don’t stop. And every day is like, we need to keep it going because there’s always someone else looking for that piece of property that I could get. So my team and I know that we always have to be on the move. I get in my car.

Kristen Knapp (07:17)
Yeah, and you would provide it. Yeah.

Ankur (07:36)
I literally will be, I live in my car, I come to the office very rarely. I’m just always looking for properties to send to the team and the team gets the call, I do the meeting and we get it done. So I’m all over, anywhere there is one.

Kristen Knapp (07:49)
Amazing. What kind of output

of deals are you providing your clients, you know, monthly?

Ankur (07:55)
Well, it could go anywhere. Like right now I’m working on just in the

last three days if I tell you, I got about $18 million worth of properties and one is a 50 room motel. I can’t disclose it. We signed the NDA, but I can’t. So, and then I got another $4 million project. got it in another location in Reading PA. I got another 84 units I’m about to go down with in Reading PA. So,

Kristen Knapp (08:03)
Wow.

Ankur (08:23)
When it comes to that, we’re doing a lot of high volume business when it comes, it’s all off market,

a lot of it. One of them is not. Then little things like in Matawan, I scored a deal which was about like $500,000, but it’s a flip for one of my investors. So it’s all different ranges. So we could go from a $20 million week to a $10 million week. It depends. Sometimes the market is a little, not slow, because I hate that word. It’s never slow, but it’s summer. People are traveling.

Kristen Knapp (08:51)
ready.

Ankur (08:51)
So you just

have to know when to hit it. That’s all.

Kristen Knapp (08:54)
And

now that you’re Mr. Off Market, do people come to you now or is it still lot of door knocking and kind of that out?

Ankur (08:59)
Oh no,

now it’s a lot of people come to me. I have a lot of agents sending me deals on social media because they know I’m honest about it. My splits with the people. I don’t even work with every agent because we’ve all been burnt once in a while, but that’s not an excuse. But I like to work with people that are like-minded because it’s very frustrating working with some agents that don’t have the same hustle. So they’ll give you a piece of property. It’s not vetted. It’s not with them. It’s through the whole Facebook groups and all, and they’ll make it their own.

then I look like an idiot in front of my clients. So I really do vet the agents that I work with. But yeah, I get deals nonstop on my social media now. And my clients know that too, you know, and agents that if they watch this, they’ll know too when they send it to me. And if it’s worth it, within 24 hours, we buy the property. Yeah.

Kristen Knapp (09:46)
Amazing.

And then can you talk

about a time where maybe you did get burned and kind of what that looked like and what you learned from it?

Ankur (10:27)
Yeah, I’ll

tell you. I might even take names, but I’ll tell you. So I got burnt a few times. There was one of the times when, you know, it’s simple things. Like when you work on deals with agents and this agent gave me a deal and it was like a $5 million ticket and it was in a very prime neighborhood. And the agent told me that they, my first question to an agent is, is this deal exclusively with you? Because anyone that works with me knows if it’s exclusively with you and all you have to do is give me 48 hours.

I’ll give you a yes or a no. Then you blast it. And the agents that I work with, we work like that together. Sometimes I don’t have buyers for a property. I know people that I’m going to give it to as well. So this agent gave me a deal and I was like, I’ve vouched for that agent. I had another agent that had a buyer. We went to the property, checked it out, proof of funds, everything ready. Go to find out. We’re ready to move. They’re ready to put in an offer. So I have an agent that trusts me that has a buyer, especially the lady job.

Kristen Knapp (10:58)
you

Ankur (11:26)
Then I have this guy, girl, whatever, I’m not gonna say anything. So they showed up and after the offer is about to come in, they’re like, oh wait, it’s not exclusively with me, they sold it to someone else. You know what I mean? So these are the little things, they sound little, but they affect us a lot in the long run because it’s our reputation. Everybody’s a wholesaler. Everybody wants to be a real estate agent. But what separates us is the individuals that actually are ethical and

Kristen Knapp (11:30)
Thank

Yeah.

Ankur (11:56)
that always keep going at it and we get the inventory. That’s it.

Kristen Knapp (12:00)
And that’s, I mean that’s hard because you asked all the right questions. It’s hard to defend yourself from something like that.

Ankur (12:05)
Yeah. Yeah.

It’s like you’re stuck in a situation where you’re like, cause I’m very, I’m very like loud. I have a foul mouth and everything when I’m on the phone. So when I speak to my guys and I’m like, I tell them straight up, I’ll do this and I got burned. I’m sorry. I’m honest about it. like, I apologize, but you can’t use that excuse all the time because then they think that people can, if they can burn me, they can burn them, right? Cause they’re trusting me with all their money. I have investors that will look at a property on a phone.

Kristen Knapp (12:15)
Thank

Ankur (12:35)
$3 million property on my word invested it without even looking at the property So they’re trusting me that much. I have to make sure the individuals that I work with as well Trust me. I trust them too, you know So there’s many stories of where I’ve been like burned or I’ve given a piece of property I took a buyer there my investors within they asked for a number we came over the number put an offer in but this still went behind my back and did the deal you know what I’m trying to say it happens, but

Kristen Knapp (12:47)
Yeah.

Ankur (13:04)
You have to be at some point selective about the people that you work with. And we’re in there.

Kristen Knapp (13:07)
Right.

Do you have any like red flags or tips on how to spot someone who might not be very reliable?

Ankur (13:15)
Yeah, yeah,

people that talk a lot of shit and brag usually don’t have it. know, people that actually sit across from you. Listen, you should brag about your success in a nice way, because by end of the day, what you put out on social media is your resume. What you put out on platforms is your resume. But it has to be like perception is reality. But if your perception is checked, you have to back it up. What you’re putting out there, if you’re putting out there, you’re closing all these deals.

Kristen Knapp (13:19)
Yeah.

Ankur (13:42)
And if someone wants to check it, you better have the credibility, right? So a lot of times the red flags that we look for is agents that send me deals or investors that reach out to me. My first question to the agent is no problem. Send me the assigned contract that you have to the property. Because nowadays what a lot of agents do is knock on a door and or even wholesalers and tell a seller, listen, I have a buyer for your property. The seller is going to be just another one of those agents. I’m not going to sign a contract with you, but

Kristen Knapp (13:45)
Right.

Ankur (14:11)
If you get a buyer, you can take it. That’s not exclusive.

What we do is, if I like your property, I’m going to come there. If I like what you have, I’m going to make an offer on the spot, sign a contract on the spot. Within 24 hours, you get a deposit in your account. That’s my property then. Then I can wholesale it or keep it, mark it up, whatever I want to do. You know what I mean? So these are the red flags that we look for is credibility, what they’re bringing to us as an agent. If it’s an assigned contract.

Kristen Knapp (14:55)
Yeah.

Mm.

Mm-hmm.

Ankur (15:22)
not just a verbal agreement that I’ll sell your property. Because then, same thing happens. You go there with your buyer, three other agents have been told the same exact thing. So everyone’s attacking the property, then there’s another bidding war. So you’re not actually presenting them a good deal. The point of an off-market is presenting a deal which is not on the MLS, those platforms, and it’s exclusively from you, from the seller to the buyer. And they make the money, they make the money, you make your cut and walk out.

Kristen Knapp (15:51)
Have you ever had a situation where you put something under contract and you give them the deposit and you weren’t able to find someone interested in it? Or do you pretty much always find somebody?

Ankur (16:02)
Well, knock on wood, I’ve never had that situation. No, knock on wood. But I know agents that have had it and they’re like, I have one more day to get rid of this property. Otherwise I’m done. And I’ve seen them get burned. Then the home is listed with another agent, they lost their deposit. It happens. But no, haven’t. That’s why I’m saying like, it’s very tricky to fall for those traps where someone comes up and shows you a beautiful piece of property. It’s tempting. But you have to check all those things. Is the contract a sign?

Kristen Knapp (16:04)
Okay.

Ankur (16:32)
those things. So yeah.

Kristen Knapp (16:34)
Yeah, yeah, that’s amazing. ⁓ Working with all these investors, as you’re building out their portfolios, I’m sure you get a lot of people that are working with you on multiple properties and you’re really just building up a lot for them.

Ankur (16:50)
Yeah.

Yeah. So, so we get a lot of like, again, we have a lot of investors that we work with that do they have five sites going on, six sites going on, two sites going on, but we don’t always, they know that they can do more than certain amount of projects. Right. So we like it’s over trading, overdoing in any business in the restaurant business. And before this, I used to be a, I had a restaurant consulting business. So hospitality was my thing for 23 years. So.

Kristen Knapp (17:07)
Mm-hmm.

Cool.

Yeah.

Ankur (17:20)
Yeah, so in any business, over trading is not the right way to do it. So I would tell my clients and my clients are also honest enough to me that, listen, stop right now. I don’t want it. That’s a good problem to have. There’s been times when I’ve called my investors and been like, I got this property right now. It’s hot, jump on it. He’s like, no way. It happened two days ago for me. My Matawan property I got, I presented it to one of my key investors, didn’t work out.

Kristen Knapp (17:42)
Yeah.

Ankur (17:48)
He was like, I have way too much going on. I gave him two properties in the past few months. So he’s like, dude, I’m good. got two more. is good. So I had this agent that had been reaching out to me on social media. I’ve known him for two years and ⁓ his name is Greg. Great kid. I actually have partnered up with him in a lot of business now. So he was persistent, stayed on it. I gave him one deal. He got it locked in with his buyer with me for within 24 hours. yeah, so yeah. So we don’t over train with our investors.

Kristen Knapp (18:13)
that.

Ankur (18:17)
We don’t want our investors going down. So, no.

Kristen Knapp (18:21)
Yeah, that’s amazing. And then to kind of like wrap it all up, what’s something you wish you learned earlier in your career that you could maybe share with people?

Ankur (18:29)
wish I learned honestly, I wish I would have learned that you can’t trust everybody. Everyone says it all the time and we all think we’re not going to fall for it, but I did. And I got, I got burned pretty big on a few very big deals, you know, but I learned from it. And now, you know, those same individuals, whatever they’re doing, I’m doing way different business system.

Kristen Knapp (18:37)
Yeah.

Yeah.

Ankur (18:57)
I have a lot of better acquaintances and business partners now and my network is different. So I learned from it and I took that and never did it again. That’s it.

Kristen Knapp (19:06)
Yeah, yeah, I mean, all you really have in this business is, you know, how trustworthy you are. Yeah, especially in your line of work where you’re really like fostering the deals for people.

Ankur (19:12)
100%, credibility is everything. That’s your reputation.

100

% especially about what we do like people if you don’t have credibility they’re gonna be like this guy’s know BS don’t talk to him so you always have to be honest straight up and just yourself yeah

Kristen Knapp (19:25)
Yeah. ⁓

How do you establish that credibility with some of these homeowners to get the properties under contract?

Ankur (19:36)
Honestly,

like I said in the beginning, it’s just not having a generic agent approach. Like I actually teach a lot of agents this now where I would ⁓ knock, like usually an agent knocks on a door and says, hi, my name is Ankur Kapoor. I’m an agent with Realty One. I want to list your home or have you seen the recent sales? They go with all these CMAs and all that. My approach is absolutely different. I always roll in shorts and a t-shirt and I’m in my car. If I’m going for dinner with my wife, whatever I’m doing,

I’ll pull up right to the house and I’ll be like, listen, I was driving past. No, I’m not trying to insult you. I look for distressed real estate. You can tell me to F off or if you are looking at selling this property, I’m an investor myself and I work with investors. So let me know if you have any interest. I just love this area. Very natural. Now everybody knows we’re hardy to make money. Everybody wants to make money. It’s the approach. I’m not trying to list your home. I don’t have a buyer. I am the buyer. So they like that honest approach.

Kristen Knapp (20:31)
Yeah.

Ankur (20:34)
And they’ll just look at you and be like, all right, dude, like I don’t want to sell, I’m good. But I believe these two doors down, person is looking to sell because I just built trust with them. So they’ll give me that lead. And then it happens all the time with us because we’re so honest and transparent.

Kristen Knapp (20:41)
bring.

Yeah, no, that’s a good approach. mean, yeah, just being like easy breezy and what’s actually

Ankur (20:52)
Yeah, listen, pull up in your shorts, pull

up. Sometimes I’m dressed for dinner with my wife and I’ll just be like, I’ll be like, can you sit in the, can you give me one minute? She knows how I am. And she’ll be all dressed and I’ll be dressed and I’ll just knock on the door and the guy will be like, who are you? I’m like, listen, I was driving past, I’m an investor. I love this property and this area. You know, that’s what I said. they, a lot of times, I’ve never had, I’ve never had negative feedback. Like people have been like, get out of here, none of that. Sometimes people have been like, listen, I’m not interested, bye.

Kristen Knapp (21:00)
Yeah.

I am.

Ankur (21:20)
Sometimes they’ll be like, I’m not interested. That person wants to sell. Or they’ll just be like, you know, no one’s home. Like whatever, like bye. That’s it.

Kristen Knapp (21:27)
I mean it’s really good advice and so where can people find you?

Ankur (21:32)
Well, on social media, it’s Mr. Off Market on Chrisel Zenjay. That’s my site. And that’s pretty much it. I’m not a TikToker. I don’t do LinkedIn stuff. I’m on Instagram. And if you know me, if you hear about, we’ll connect. People connect with me. ⁓ You’ll get to me. Yeah, yeah.

Kristen Knapp (21:48)
Amazing.

Well, thank you so much for being here. think that people learned a lot from this. Awesome. And thank you everybody for listening and we will see you back next time.

Ankur (21:53)
Pleasure. It’s a pleasure. Thank you so much. Thank you.