The ABCs of Finding Real Estate Deals
What is finding a deal?
Finding deals is the way you’re going to make money in real estate investing. Whether you’re working with distressed sellers, short sales, subject tos agreements with landlords, seller financing, etc., you’re working deals to expand your investment portfolio and monthly cash flow.
How do you know when you find a great deal?
When it makes sense on paper. You should always know what your profits will look like on the front-end of any deal. You don’t want to scramble to recover costs when repair costs start piling up. If a deal doesn’t cash flow, it’s not a great deal.
I’ll say it again. Great deals are only those that make sense on paper. Read more about this here and see a video on it here.
Where do I find the best deals?
This depends on the market you’re seeking to invest in. It also depends very much on your personal arsenal of skills and assets (money, credit, time, etc.) The best way to find your best deals is to inventory these to see what investment strategy fits you best. Then, and only then, will the deals start working for you. Here’s a little tutorial on finding your best investment strategy.
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