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Forums » Investor Psychology » How to find the good deal in real estate?

How to find the good deal in real estate? Subscribe to How to find the good deal in real estate?

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Forum_avatar_avatar-snowstar

Icon_minipost Sep 25 '05, 08:34 PM

one of key points to make money in real estate market is to find the real estates under the fair market price. but how to find them?
:beer:

Edited: 06/26/2010 at 02:52AM


Toney J.


Forum_avatar_avatar-toneyj

Icon_minipost Sep 25 '05, 09:33 PM

First, where are you located? It has become increasingly difficult to find underpriced properties in many markets (NY, LA, etc.). Finding good deals requires time, and a lot of effort. You must have patience, and you must set standartds for yourself. That's where the business plan that Biggerpo preaches, comes in. Figure out what you're in the market for.

Looking to flip, rehab, landlord??? Decide. Then you can focus better on the property types you're interested in. After that, you need a marketing plan. Will you use realtors? Mailers? Door knocking? Bandit signs? There are many ways to market.

Lastly, you must be prepared when that deal comes through. Is your money in order? Do you have lenders ready? Money in fist?

If you're not prepared, it is likely that someone who is will jump on it before you wil!

Edited: 06/26/2010 at 02:52AM


Joshua Dorkin

BiggerPockets Founder · Denver, Colorado


Forum_avatar_avatar-biggerpo
DonorPro

Icon_minipost Sep 26 '05, 05:55 AM

Toney - I'm glad someone is paying attention to me! LOL! Well, I think you're dead on here. Planning and then narrowing down your search is the way to go here.

Let us know more about where you are. Maybe we can help out more here!

Edited: 06/26/2010 at 02:52AM

Small_bplogo20aJoshua Dorkin, BiggerPockets, Inc.
E-Mail: webmaster@biggerpockets.com
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Website: http://www.biggerpockets.com
Be sure to check out the BiggerPockets Blog at http://www.BiggerPockets.com/renewsblog/



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Jason Hanson

Real Estate Coach · Oakton, Virginia


Forum_avatar_avatar-primo_coach

Icon_minipost May 07 '08, 04:49 PM

Pick a niche and get rich. You can go after preforeclosures, probate, people going through divorce, and tired landlords (my personal favorite).

Then do a lot of marketing, such as:

1. bandit signs.
2. door knocking
3. direct mail (letters and postcards)

Edited: 06/26/2010 at 05:10AM


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