Finding the Right Deal

Before you even begin looking to buy properties, you need to be honest with yourself and seek out a partner or expereinced real estate investor as an advisor. You need to be able to move fast if the right deal comes along and nothing moves things faster than a pre-approved mortgage, cash or someone with a real estate investing plan already thought out. Know about your credit, "play with" numbers for differing scenarios, have an idea of what scenarios work for you as an investor and wich do not. Most of all, do not buy anything that does not produce a positive cash flow. You want the rent to cover the mortgage and give you some cash every month. You may want to check out some of the real estate advice of Robert Allen or Dolf Deroos, part of the Rich Dad Advisor series co-written by Robert Kiyosaki. Also of tremendous value are the plans and advice of Robert Allen, Carleton Sheets and countless other experienced real estate investors. Remember you make your money when you buy, not when you sell. The price has to be right for you to get in at the onset. This is a business and you are an investor. Never compromise on this principle.One of the best resources we have found, and personally was on a web site dedicated to mortgage loan tips. You may want to check it out by clicking here!

One of the best pieces of advise I found was actually in a Robert Kiyosaki book. I have seen it reinforced in several other articles and we will examine it in detail in upcoming newsletters. A very good ratio is 100:10:1, meaning you should look at 100 properties, offer on ten and end up with 1 accepted. If you get an acceptance on 3-5 of them, you are not doing it right. You are leaving money on the table. Do not leave money on the table. The more you look, the easier it will be to spot the real bargain. We have bought 7 properties so far and I can say we may have looked at 1,000 to get to this point. It takes alot of work, on paper, and in person to determine curb appeal for real estate investing. Consider condition, rentability, how much rehabilitation is needed on the property and of course, LOCATION! One the best resources I have come across is a super web site. Click Here to visit it!

The ratio I refer to above has more to do with making the profit than anything. You make your money when you buy, meaning the offer you make should be low enough to ensure the mortgage payment will produce a positive cash flow from the beginning and a healthy profit at resale. Remember to check the house thoroughly before any offers are made and consider the professional engineer inspection as well. Don't say you do not have the money to do it now. The money you invest now pays HUGE dividends to you later. Robert Allen, Robert Kiyosaki, Dolf Deroos,and even Carleton Sheets tell you how to learn the process and understand the language. A great guide to the process can be found if you Click Here!

Real Estate Investing can take many forms. Some investors prefer to buy homes and rent them with a positive cashflow. Others prefer to buy and flip the property for an immediate profit, yet others prefer to buy a property, improve it and sell it within a year. The types of propert really do not matter. you can buy private homes, mutli-unit apartment buildings or commercial real estate, the possibilities are endless. But the fact is most wealthy people have made their money as real estate investors or hold their wealth in real estate. My own favorite is Donald Trump, the all time king of real estate deals and any type of wealth enhancement project.



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