A real deal is defined as a property that meets YOUR criteria and a seller that will meet YOUR terms. As there are a wide array of finding properties that will meet your criteria, there is only one way to find property owners that will sell to you on your terms.
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The list is seeming endless today regarding the number of people fighting for your undivided attention to show you how to be a real estate investor. Before taking action on any of their advice, whether it’s paid or free advice, I’d recommend researching their track record and current standing as a real estate investor. In more instances than you can probably imagine, the real estate investing education industry is saturated with “experts” that allege to know a bunch, yet come up a little short on the doing. There are two types of people in the real estate investing education industry…
Ongoing education is important to stay ahead of the competition in any profession, and real estate investing is no different. Below are ten books in no particular order that I have found to be “game changers.” The more you learn, the more you earn. Enjoy!
The lottery and real estate investing have two things in common. First, you’ve got to be in it to win it! Second, the silver bullet!
The purchase agreement is a necessary, and can be the most powerful, tool of the real estate investor. Unfortunately, most investors cheat themselves by not understanding the purchase agreement more. Tragically, most new investors are so terrified of the purchase agreement that regardless of how much they invest in their real estate investing education, they never do a deal due to that fear. Repeat after me, “The purchase agreement is my friend.”
Knowing the difference between a good deal and a bad deal is essential if you expect to invest in real estate for the long-term. Some are naturals at recognizing deals, and others… not so much. Either way, the skill can be learned through the right real estate investing education and real world experience.
The educated real estate investor answer to just about any investing question is, “It depends.” The question, “Is this a good deal?” is no exception. The answer depends on the investor’s goals and intent.
Is the goal cash or cash-flow?
Is the intent to invest long-term or flip quickly?
These are important questions to be addressed before the original question, “Is this a good deal?” can be accurately answered. However, a quick analysis to determine a clear initial opinion of “good deal” or “bad deal” can be had by using a simple acronym that was taught to me years ago… C.L.E.A.R. I still use it today.
Although I haven’t found much value in being a licensed real estate agent in my roll as a real estate investor, this week I was able to implement a negotiating strategy taught to me by my former broker. It worked countless times when I was representing home buyers and sellers as an agent, and it worked this week as an investor putting five figures in my pocket. Hmmm… So I guess all that work as an agent wasn’t for nothing.
Given the lending climate’s current reluctance for entertaining lending requests from real estate investors, a new approach is necessary in order for real estate investors to conduct business. I’ll reveal to you the four ways I raise money.