Real estate investment is about finding good deals
Real estate investment is one of the most important and biggest purchases you will ever make, and it also involves extensive thinking and planning. If you are a first time buyer you need to be aware of property prices, negotiation techniques, financing options, mortgage rates, and many other things before you make an informed decision.
Real estate investments are frequently treated as one the best ways of investing money. However, what you’re searching isn’t just any real estate investment, but real estate investment that may give you good returns. By real estate investment we mean investing money into property that is. Purchasing property at a low cost and selling it at a higher cost so as to make a benefit out of it. So the most important part of good real estate investment is to reach such properties which may give you good returns.
Now, how may you get these potential profit-making deals?
Your first avenue for getting good deals is the local newspaper (the property newspaper). Just look for for properties that are listed directly by the proprietors who want to avoid paying commission to the real estate brokers. Since the proprietor is saving on the commission that they’d otherwise have to pay to the broker, they’d probably be able to offer a lower cost to you and be more open to negotiations. You could also place your own ‘wanted’ ad in the local newspapers. On the same lines, you could use internet to search for the real estate investment avenues. In fact, you’d be astonished by the number of real estate investment chances you are able to locate on the internet. Not only that, searching for real estate investment chances (that is. property for sale) is much easier on internet than anywhere else.
Another good way to hunt for real estate investment opportunities is by using the services of real estate brokers. Some people use real estate agents as their first (and maybe the only) touch point for getting real estate investment chances. The real estate agents act as information hub for people looking for purchase property. In fact, a lot of sellers get it much more convenient to sell their properties by listing it with real estate agents.
Multiple listings service is another good way to get real estate investment chances. As the multiple listing book is provided only to the real estate agents and not to the general public (unless you’re very lucky), all the cream (good real estate investment opportunities) would have already been taken before you get to see the book. The key here is to look for expired listings that didn’t get converted to a deal.
Another good way to get a property, that’s a good real estate investment, is to search foreclosures by banks/ VA/ FHA or to visit public auctions. You may normally get a good deal here. Divorce settlements are another good real estate investment opportunity.
So, real estate investment is actually about getting good deals. And finding good deals does take some effort