The single biggest question I get from people getting started in real estate (and experienced for that matter) is “how to find deals?” They say, “I don’t know what to focus on in real estate. Should I focus on rehabbing? Should I focus on finding absentee owners? Should I focus on direct mail?”
The answer in one word is: UGLY. You need to have a motivated seller (DON’T WANTER) and property that is ugly. Great buys in real estate are in rough condition. I can count the nice properties on one hand that I got great buys in over the years. I am talking about thousands of properties. So if you have not guessed it yet, if you get in this business you are going to need to be in the rehabilitation of property business. What do I mean by ugly:
Real estate investing is a game. To play it well you must understand the four financial benefits of real estate and how to maximize them. Those benefits are:
There are many questions that should be asked before embarking upon a career of real estate investment. The first and important question however should be whether or not you are truly committed to making real estate work for you. This is not a business for the faint of heart. In order to truly turn a profit you must be at levels ruthless when dealing with buyers and sellers but ethical to a fault when it comes to the work that must often be done in order to get a property in sell-able condition.
Whether you are BRAND NEW to real estate investing or an expert in the game, it’s critical that you it should be noted these 7 Simple Steps to real estate investing.
If you’re thinking about investing in real estate to make money, you must have a to first determine your financial goals. Do you must have a to make money quickly, invest for your children’s college fund, or build wealth for your retirement? Once you determine your financial goals, you it’s essential to have to decide which type of investing strategy works for you.
What’s the difference between a fixer and a flip?