In order to be successful as a real estate investor you must have an aggressive finding or prospecting strategy. There is no way around this fact. If you are going to be buying deals you first have to be finding deals. The key to finding good deals is finding someone that is willing to sell their property for less than what it is worth – motivated sellers. People with beat up houses, vacant houses, condemned houses, foreclosed houses, etc. are typically the sellers that are going to be the most […]
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Be Careful with Deal “Values”
August 25, 2008 in General R.E., RESIDENTIAL R.E., Step 05: Analyze Opportunities
There always seems to be confusion in the marketplace about real estate “valuesâ€?. We frequently hear about market values, tax values and appraisal values. It is important to understand what these values really mean and how to use them. Let me first say, the most important value is what the property will sell for on the open market. Don’t ever forget that. Listings that say “property listed $30,000 below appraisalâ€? or “property listed 20% below tax valueâ€? mean absolutely nothing. It may sound attractive if a property is listed $30,000 […]
Pending Home Sales Up!
August 8, 2008 in RESIDENTIAL R.E.
These are the numbers investors are chomping at the bit to hear – numbers that indicate the market is turning positive. Everyone wants to know when the bad news is going to stop. This one article doesn’t mean all the bad news is behind us; we never want to take one piece of data and make drastic judgements. We want to see consistant improvement in metrics and numbers in many different areas over time. Home sales are a popular indicator we monitor. The number of homes being sold or being […]
Selling a Property for 6%?
August 8, 2008 in RESIDENTIAL R.E., Step 11: Sell It Quick
Think twice before paying a full 6% sales commission to a real estate agent. That is a lot of money and will dramatically cut into your profit. It is quite easy to avoid having to pay that full commission. Keep in mind this commission is fully negotiable and don’t think you have to pay it in order to get the help of an agent. Agents have become increasingly willing to negotiate their commissions becasue they are not making close to the money they were the past few years when the […]