What Type of Properties Are Real Estate Investors Looking?
There are several categories of real estate available for an investor. The easiest for a beginning investor to understand and participate in is the single-family home. Why?
1. Homeownership in America is approaching 70%.
2. They are the highest demand type of property.
3. They sell quicker than other kinds of property.
4. Prospective purchasers have the widest range of financing programs available to them, making the property easier to purchase. If the property does not sell in a reasonable amount of time, it can be rented.
Ugly Properties:
Why should you buy the ugly duckling?
The best property to buy is an ugly one. Look for the property that has never been “updated” or improved or one that has been improved, in a very tacky way. Don’t be deterred by the pet urine, feces, or mice droppings. Where some see damage and odor, you should see dollars and opportunity. Ugly ducklings are the properties that have the least competition, houses that can be fixed up by remodeling, not by rebuilding. Many people are scared about things like leaking roofs and broken windows. Be happy to see those things. They’ll discourage most inexperienced investors from purchasing the property. In many areas, you will be competing for some deals with “do-it-yourself” homeowners.
They may outbid you simply because they figure they can buy a home for $50,000.00 that will be worth $70,000.00 when they’re done fixing it up. It never occurs to them that they will spend $10,000.00 for materials and professional labor, one to two years working on it, and live in a construction zone the whole time. The oddest thing about it is that most people will sell the home when they’re done, thinking they did great (although they really broke even) and start the process again.
Buy, flip and sell works best in a 90–120 day time frame, with professional contractors quickly completing decorating, repairs, and renovations.
Where do go to meet the like mind people to get trained in the investing business?
There are Real Estate Investor Association all over the US. Many of this associations are non profit. They are usually referred to as a REIA. Investor groups are for purpose of investor education, networking, and training. They bring national and local real estate experts to their meetings. They have training on wide topics like: foreclosures, pre-foreclosures, land lording, rent to own, lease options, short sales, deed offs, credit, wholesaling, find, fix, and sell, private money, lines of credit, and accounting. These are just a few of the topics they speak on.
How do you find a Real estate investors association or groups in your area? You can do a Google search for real estate investor network in your area, or you can simply join Roi’s List Web Platform — they offer a free solution to improve your real estate network by simply creating a profile and search for investors, flippers and other real estate professionals.
If you want to take it to the next level, use Roi’s List App, it is the world’s first real estate investors networking application for iOS and Android devices.
Closing deals has never been this simple!
Struggling to meet the right people to advance your real estate business?
With Roi’s List you can complete a deal in 3 easy steps:
1. Tell others what you’re looking for
Fill in your profile and tell people who your target audience is and what types of deals are you interested in.
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Find the people who are really interested in a deal. We save you the hassle of trying to reach out to random investors and slowly building your network. Roi’s List is an instant black book for investors to do deals with whenever you need one.
3. Make a deal
With Roi’s List, it is easy to message anyone who is interested in making a deal. We fast-tracked the networking process so you don’t waste your time searching for potential investors. Make a deal with someone looking for exactly what you’ve got to offer.
