Over the past 5 years, I’ve managed to sell a lot of properties without the assistance of a real estate agent. These were properties that I owned and was selling in my “limited capacity” as a real estate investor.
After going through the process time and time again, I’ve learned that there are some fundamental principles that (when utilized correctly) can have an enormous impact on how quickly a property ends up selling.
This is important because once you wrap your mind around these ideas, you will start selling properties faster than you ever thought possible.
Sound exciting? Let’s dive in… [click to continue…]
I wanted to use this blog post to answer a question that I’ve been asked several times over the past few weeks.
It’s actually one of the most important questions you’ll have to answer as a real estate investor, and maybe you’ve already had the chance to wrestle with it first-hand. The question is this:
“HOW MUCH SHOULD I OFFER FOR THIS PROPERTY?”
As you can probably imagine, this is a very important question because your offer price has everything to do with your ability (or inability) to make money on a real estate deal. With this in mind, I’d like to provide a bit of explanation on the basic math that I use to come up with an offer price for any given property. [click to continue…]
When I was a new investor, one of the first lessons I learned was this:
If you want to buy properties for a fraction of market value, you’ll have to send out A LOT of offers.
Finding deals with massive amounts of equity is a numbers game… and while this isn’t a terribly difficult concept for most of us to grasp, there remains a major obstacle that gets in the way of many new investors. When I was first trying to figure out this whole “investing game” – I used to get totally hung up on the ridiculously time-consuming task of property research.
Let’s face it, there are a lot of things that can throw a wrench into any prospective real estate deal (a dilemma that was always in the back of my mind). I used to spend hours upon hours researching the heck out of every single property before I felt comfortable making an offer. It ate up a TON of my time… all because a little voice in the back of my head kept telling me: [click to continue…]
If you haven’t figured it out yet – “organization” (i.e. – one’s ability to keep things in order) is an extremely important aspect of any real estate business.
It doesn’t matter if you’re an investor, agent, broker, property manager, or speculator – your ability to:
- Maintain control of your data
- Keep your information in one place (without mixing everything up)
- Employ a logical flow of information
- Find what you’re looking for in a seamless fashion
…will have a massive impact on your level of effectiveness in this business.
This isn’t something that comes naturally to all of us. It took me about 6 months of fumbling around with different organization methods before I finally landed on the basic setup that I use today. [click to continue…]
One of the biggest obstacles every land investor is faced with is how to find the “market value” of vacant land.
This may seem like an odd dilemma to the typical real estate investor but trust me – if you spend any amount of time trying to find comps or relevant local data for a parcel of raw land, you’ll find that it can be incredibly challenging to assign a concrete value to this type of real estate. It presents a major challenge because most of the time, the data you’ll need to make your decision simply isn’t there.
Understanding How Appraisals Work
Before we get into the complexities of valuing land, let’s establish a fundamental understanding of how appraisals work. [click to continue…]