Real Estate Investing
REAL ESTATE INVESTING
The System
A. Discount Situations:
Look for sellers who are forced to liquidate their real estate
Solve a cash need.
Look for mortgage holders who are anxious to liquidate their mortgages at a discount to solve a cash need.
B. Distressed Properties:
Look for sellers who are anxious to unload properties that are in a crisis — problem tenants, natural disasters, floods, fire, etc.
Look for properties that are run-down and need repair or major fix-up. Often a total face-lift will dramatically increase rents and property value.
C. Conversion Opportunities:
Look for properties that are ripe for conversion to another use — apartments to condominiums, apartments to office space, office space to retail space, vacant farm land to building lots commercially zoned acreage. Converting from one use to another can increase value.
CONCEPT OF BUY LOW/SELL HIGH
Become Proficient in 3 Specific Skills to play the game of Real Estate Investing:
?· Finding deals: Get good at finding real estate bargains
?· Funding deals: Have ability to qualify for mortgages and find down payments.
?· Flipping deals: Have ability to remarket the property quickly for profit.
Seven Possible Steps of the Process:
1. Buy residential property within 50 miles of your home.
Single-family homes, apartment buildings, condominiums are easier to sell, to rent, and to finance.
2. Pick a
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