Before you start investing there are a few things that you can do to stack the cards in your favor, so to speak. Â If you are prepared you have a much better chance of securing the winning offer on a fabulous deal. Â But if you’re missing a vital part you could lose the whole deal.
The 7 keys to finding and securing the best real estate investments are:
- Be prepared to purchase before you start looking
- Avoid competition from investors by staying away from common arenas such as short sales and foreclosures, and instead, look for properties solely on the Multiple Listing Service.
- Leverage the time and resources of realtors by having them find deals for you.
- Purchase only single-family homes priced at or below the median home price for the area to secure immunity from market volatility.
- Purchase only homes in livable condition and that do not require major repairs before you can sell them. Let your tenant make home improvements.
- Use the focused search system to identify deals with at least 15 percent equity, and then get them before anyone else. Speed is of the essence.
- Eliminate wasted time in the negotiation stage by cutting to the chase and avoiding tedious counteroffers.
(p.39, “The Strait Path to Real Estate Wealth)
By following these seven keys you’ll increase your chances that you’ll get the next deal and you’ll reduce you time and effort in securing the property.
7 Keys to Finding and Securing the Best Real Estate Investments
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