Consider these parameters for a real estate deal:
Laptop Battery Property Value: $250,000
Purchase Price: $160,000
Repairs: $2,500
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Thinkpad If you analyze the numbers, you see that the equity available in this deal is $87,500 (Property Value minus Purchase Price minus Repairs).
There are 5 core skills that are necessary for building a real estate investing business. These will be the key factors in creating a profitable real estate investment portfolio. 1) You must learn when and where to find the right kind of sellers. 2) You must learn the art of being a master negotiator when it comes to closing your real estate investment deals.
Microsoft So here's a hypothetical question for you: Assuming that the information above is accurate, and the property is located in
an area that you view as acceptable and/or favorable, then:
3) You must be able to quickly and accurately analyze each real estate investment deal so you'll know exactly when to proceed and when to pull the plug. 4) You must become an expert in all areas of real estate investing and understand such terms as lease options, cash sales, wrap mortgages, short sales and other terminology common in the real estate investing trade. 5) You should totally understand the meaning and concept of investing in real estate, including all of the financial risks and benefits.
Laptop Computers If I offered to give you this deal in exchange for $10,000 in cash, would you do it?
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Laptop Computer Remember - this is hypothetical. The real question here is
this:
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100, 000. If you had a $100, 000 income tax problem, would you attempt to deal with it without the help of a CPA If you had a $100, 000 legal question, would you deal with it without the help of an attorney Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR .
Desktop Computer Would you exchange $10,000 in cash for $87,500 in equity?
Notebooks For most savvy investors, the answer is: Absolutely YES!
Lenovo This is called "Wholesale Real Estate Investing" - the process
of buying a lot of equity at a very significant discount from another real estate investor who has already done the hard work of finding a deal and getting it under contract.
Hard Drive Just think about that - consider how easy real estate investing would be for you if you had a network of real estate investors
in your area (and maybe even all over the country) who, several times each month, offered you the opportunity to purchase significant amounts of equity for a severe discount...
Travelstar ...It would be quite easy to become wealthy, fairly quickly, wouldn't it?
Gateway The answer again, is: Absolutely Yes, it will.
Laptop Parts It is through smart "wholesale real estate investing" that you can increase your net worth by $20,000 to $100,000 on every real estate deal that you do.
Software ...Now the burning question becomes, "Where exactly do I find these wholesale real estate investing deals?"
Hard Drives I know of at least 3 solid sources...
Electronics You've got to admit - it will be a pretty wonderful thing when you know how to find great real estates deals in which you can trade a small amount of cash for a large amount of equity without even having to find the deals yourself...
Canon ...And that's exactly what "wholesale real estate investing" is all about.
Desktop Pc So let's get right to it. Here are 3 places to find wholesale real estate deals:
Desktop Computers 1.) Visit the local real estate investing club in your area.
Almost all of these clubs have networking opportunities to work with other investors who wholesale deals regularly, and this is an easy way to find great opportunities.
Think Pad 2.) Watch for ads in the newspaper, television, and in other media that advertise slogans like, "We Buy Houses", or "Sell Your House in 9 Days" or anything similar to that. Most of the time, these people are real estate investors, and they are happy to wholesale deals to people like you.
Repair 3.) Watch your email-box. Why? Because if and when you choose to enroll in various free e-courses online, such as that via tm-RealEstateInvesting.com, you'll be provided with automatic notification about great local and national deals as they become available. But be forewarned - you've got to act quickly whenever these deals are announced, because obviously the response is always significant.
Data Recovery Happy Hunting!
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Keyboard
Under the careful mentorship of real estate 'gurus' Bryan Ellis,
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