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Forums » Make Deals, Find Partners, Mentors & BirdDogs, etc. » Fingding a Good Deal!!

Fingding a Good Deal!! Subscribe to Fingding a Good Deal!!

5 posts by 4 users

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Davin Wright

Real Estate Investor · alexandria, Virginia


Forum_avatar_avatar-prosperous

Icon_minipost Oct 28 '08, 01:30 AM

What's a good deal? How do you locate a good deal? I'm at a point now of trying to figure out the numbers. What do you need to look at? What numbers do you factor in?

How do you know if it's a good deal? How do you figure out the numbers? I keep hearing it's all about the numbers, ok how do you work the numbers?

I don't have a mentor. I can not find one. I would be willing to pay half of my first deal if someone would help me out (Be a Mentor).
I reside in VA.

Thanks

Edited: 06/26/2010 at 06:14AM


James Hiddle

Real Estate Investor · Altus, Oklahoma


Forum_avatar_avatar-mr_investor

Icon_minipost Oct 29 '08, 11:14 AM

A good deal is a piece of property that has a lot of equity. A property that is at least 45-50% below FMV.

How to find deals like that well you need to do some work. Some ways are:

1.Real Estate Agents-Having access to agents can be one of the best tools an investor has in his arsenal because of the agents having access to the MLS. Some agents work with investors(I'm working with one as we speak)to help them find great deals.

2.Newspapers-Your local newspaper may have some good deals listed just check the For Sale section in the real estate section of your local paper.

3.Craigslist-Sometimes you might find great deals on Craigslist.Type in key words like Motivated Seller and you will more likely find a good deal.

4.Your local REI Club-Maybe you heard this saying "your net worth is equal to your network"

Try networking at your local REI club.Club members have access to resources that give them great deals.

5.Listing Sites-There are bunch of listing sites on the net that have great deals. Go to either yahoo or google and search for property listings to see if you can find some great deals there.

There are more ways to find deals but those that I mentioned are great ways to find the best deals around.

And always do your due diligence to make sure you're buying a Ferrari and not a lemon.

Edited: 06/26/2010 at 06:14AM by James Hiddle


Charles B.

· Atlanta, Georgia


Forum_avatar_avatar-ecs

Icon_minipost Nov 02 '08, 01:05 AM

If you are interested in doing some commercial real estate deals in Virigina, we would be more than willing to serve as a mentor. I have found a number of appealing deals in VA, but it would be nice to have someone there on the ground.

Sorry, the residential market is in too much turmoil for me. But if you want Commercial Real Estate mentoring, send me a message.

Edited: 06/26/2010 at 06:16AM


Davin Wright

Real Estate Investor · alexandria, Virginia


Forum_avatar_avatar-prosperous

Icon_minipost Nov 02 '08, 03:36 AM

Charles, I sent you a message.

Edited: 06/26/2010 at 06:16AM


S Smith

Real Estate Investor · Detroit, Michigan


Forum_avatar_avatar-slsguru

Icon_minipost Nov 03 '08, 12:44 AM

What should the spread look like? Meaning, how should the numbers work out in todays market?

Edited: 06/26/2010 at 06:17AM


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