Good real estate deals are hard to find but not impossible.
So, where do you find real estate deals worth your investment?
Before I answer that, let me ask you this first. Why do people buy property? They want to make money! So, how do you find a good real estate deal that will bring profit into your bank account?
It’s essential to understand what makes a deal good. A good deal provides cash flow, one with lots of competition and one that can give you the most profit.
Find real estate deals where you live
Don’t try new markets – stay local. Learn the market where you live first. Take your time, and don’t jump into anything quickly. Learn the lay of the land and if the deal is worth it in the location you’re looking at.
The best deals are bigger
Single-family homes don’t cut it. You find the best deals with apartments; They protect your capital, provide consistent cash flow, and appreciate over time. The key here is knowing they will appreciate in the long term. Find a good real estate deal in a market where you KNOW your investment will grow.
Know the market
Understand the market’s economics, job providers, rents, concessions, expenses, the growing parts of the market, dying parts of markets, the city’s politics, the home prices in the area, the overall economic conditions, occupancy, cost of insurance and so much more. Check the property during the day, at night and on weekends. Before you invest, there’s a ton of research involved; ask questions and get very familiar with the market to find the best deals.