If you decide that you want to get into real estate investing full time and be successful in it, or even if you want to be really good at it part time, then you have to build systems, effective systems for everything.
I was at a closing the other day and saw something totally stupid. I watched a new investor in the closing attorney’s office turn into a jackass right in front of my eyes. I mean he had big ears pop out of his head and a long tail shoot out. Really, he just morphed into a living breathing jackass.
Do you have problems with your real estate investing? Are you not doing the amount of deals that you want to be doing? If so, then I know your problem.
Lets face it: everything is done online now, that is just the way of the world. Today, more houses are sold online than any other way. Realtors and investors have long since figured this out.
When you decide that you truly want to be successful in real estate investing and get into it full time, or even if you want to be really good at it part time, then you have to build systems. Systems for everything.
Generally, the banks set a price on properties too high because they are in the business of lending money, not real estate, and as a result often they do not have a good understanding of the real estate market. Also, most banks are large, they have specific policies on reducing the price on a house based on how long it has been on the market.
etrades.net
Let’s say you are looking at a REO for which they want 25k and they have just come down from 29k. The bank apparently did not really look at the property because it isn’t worth the asking price. The only good part of the house is the structure; the house would have to be gutted to rehab. You don’t want to do it yourself but you would buy it to flip if your low ball offer on it got accepted.
There are times in your life when in order to change your future you have to make decisions that others may question.
If someone drops you in a new city and tells you to find a good real estate deal in less than 3 hours, here is what you should do.