The super-successful real estate investor is one who thoroughly understands their market. They will constantly be gathering information like local news, economic factors, zoning ordinance changes, and a ton of information and photos of individual homes for sale or recently sold. They will also be taking photos and doing research on vacant homes to see if they may present an opportunity.
I picked up my check today for my 6th wholesale deal that I have closed since reading Deans "30 Days To Real Estate Cash" book. I have been doing this very part time for the past 2 years, but I also have a full time job so I do what I can to make things happen. I enjoy sharing my success on this site to hopefully show other newbies that this CAN work, no matter what the nay-sayers say!
Properties converted to rental units have been a major force in real estate market improvement the last few years. Cash investor buyers, including institutional and major investors like Blackstone Group, have been buying properties in bulk for rental investing. A lot of this activity has been focused on “fix-and-flip” investing. The property is purchased in poor condition, fixed up and then sold as “rent-ready” to another investor.
This strategy has worked well for many, with a steady supply of tenants and rising rents making it lucrative. Passive investors who want to become landlords find the availability of a “turnkey” rental unit very appealing. However, let’s take a look at how one “turnkey” or “rent-ready” unit can be a better investment than another.
I'm a 50 year old retired high school teacher, mother of three and grandmother to two. Last May/June I attended my first Dean Graziosi weekend seminar and was inspired. Real estate investment seemed like a perfect "fit" for this next stage of my life as it gives me flexibility to spend time with my grandchildren and gives me goals and purpose - - - and hopefully financial reward!!
I'm a Canadian in an area that has a strong seller's market. I find it tough to find properties with potential that are deeply discounted.
My mom and I just got back from the Buying Summit in Las Vegas, and it was such an amazing experience! We bought our first property and some land. Now we have more confidence to out and do some assignment of contract and double close deals - it just doesn't seem as scary now. I'm sure when we do our first double close it'll seem even less scary. I'm looking forward to feeling the thrill of a deal without the trepidation!
This is from a magnetic car sign lead - We previewed the property on 1/2; made the offer on 1/3;
they accepted on 1/3; signed the contract on 1/4; closed on 1/7; changed the locks & cleaned out the house on 1/8; finished the cleaning on 1/9; Put it up for sale on 1/10; showed it on 1/13 & sold it on 1/17.
Bought it for $ 31,000 & sold it for $ 38,500 ...
Not bad for 2.5 days of work!
Closing on the house next to it on Tuesday, the owner saw our magnetic car signs when we were signing the contract on his neighbor's house.
Might have this sold already...
2014 is starting off with a bang!!!
Thanks, Gary & Jill