Understanding the true market value of a property is one of the most important things you will need to do as an investor. Before you can make an offer or buy a deal you must know what it is worth. The best way to start your research in determining market value is getting recent sale information of comparable properties in the same area. We frequently refer to these as “compsâ€?. You need to be very careful using on-line estimates for what homes are worth. They are interesting to look at […]
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What about Renting?
April 22, 2008 in RESIDENTIAL R.E., Step 03: Do Strategic Planning, Step 05: Analyze Opportunities, Step 09: Manage Property Effectively
I frequently talk with investors and hear investors talking about how they are scared to death of “getting stuck with a propertyâ€?. I think we all know, or at least have heard, prices have come down in most markets, there are a lot of houses on the market and good deals are to be had. However, what sense does it make to buy a property if you can’t sell it? I have blogged in the past about how homes are still selling albeit at a slower rate and only the […]
Websites to Help You Find and Research Deals
April 3, 2008 in RESIDENTIAL R.E., Step 04: Find Potential Deals, Step 05: Analyze Opportunities
I talk frequently with students about the importance of having an aggressive finding strategy. We talk about the various ways of creating streams of deal flow which can include having real estate agents find you deals, foreclosures, auctions, looking in the newspapers, having an aggressive marketing and advertising strategy and lastly looking aggressively at numerous online sites. Here is a list of websites that can get you started and assist you in finding and evaluating deals. Trulia.com Realtor.com Craigslist.com (“homes or real estate for saleâ€? section) Zillow.com Domania.com Hudsonandmarshall.com Williamsauction.com […]
Buy Low and Ride the Market Back Up
March 13, 2008 in RESIDENTIAL R.E., Step 03: Do Strategic Planning, Step 05: Analyze Opportunities
I was recently talking with a lady that is focusing on doing rehab flips in California. The real estate market where she lives is very slow, there are an unusually high number of properties sitting on the market for sale and prices have come down dramatically. She is confident she can buy properties at a good price but is not so confident she will be able to sell them in the current market. Renting properties historically hasn’t been an option in her area because rents have not kept up with […]