Do you like the idea of investing in real estate? If so, then you are in the right place, as our resident experts have produced what we like to call “the insider guide to real estate investing.”
So sit back, turn off the phone, and spend the next 30 minutes reading the following information through a few times. It really is that valuable!
Okay, over to the experts…
Find the right agent
When you are looking to sell one of the properties in your portfolio, it’s important to find the right real estate agent. At the end of the day, do you really want the hassle of putting the property on the market and showing people around? Of course not. That is why we have agents.
In order to find the right agent, do some digging around in the local area. Ask people you know for recommendations, and drive around a few neighborhoods to see which agents are selling properties similar to your own.
The key to successful real estate investing is buying low instead of at the very top-end of the housing market in your area.
Ultimately, if you can buy a property at below market value, then you have more chance to make a profit, which is what real estate investing is all about.
Don’t feel bad about making low offers, and don’t be concerned about offending the seller. The best way to make a low offer is by listing legitimate concerns about the property. For example, if it requires a lot of repairs, then point them out to the seller before making your offer.
Also, you should always try to find people who are motivated to sell, such as a home owner who is about to have their property foreclosed, or someone who has had their property listed on the market for a long time.
Search for quick flips
Smart real estate investors realize that doing a lot of hard work or taking on a big project is never a good idea. In no time at all, you will be bogged down in small details, and as the project starts to get out of hand, your profit margin diminishes.
Instead, it’s a much better idea to search for “quick flips.” This means you find a property that is priced below what it is actually worth, and then you turn around instantly to sell at a profit. No need to spend time doing repairs or any of that stuff.Read More