Ok- I’ve studied C. Sheets, & most recently Lou Vukas. I’m chomping at the bit to start my RE investing career, but with the market the way it is, everyone says; just WAIT!
Although my interests are primarily in flipping, & buy & hold-
I’m wondering if there are any other techniques that I can utilize right now, that best fit this market! How are some of you experienced investors diversifying your tactics? Or, are you waiting out the market as well? Thanks in advance for your help!
Your criteria and stategyshould work in any market. If you’re into the buy & hold, then you’re in the perfect market. Remember, you want to buy when everyone is selling and sell when everyone is buying. What is local market like? You can Buy, Rehab & Rent multifams or even single fams. if the price is right. Before you “jump in”, You need Short & long term goals, a plan for achieving them, and a network to support and advise you. Be very specific in what you’re looking for and your goals & plans.
No need to wait.
Go out there and find motivated sellers.
Buy at HUGE HUGE discounts and sell at HUGE discount and profit.
Why wait? Downward markets are some of the best times to get fire sale prices on homes.
ANTSY = LOSING LOT’S OF MONEY!!!
FIND A DEAL
FIND A DEAL
FIND A DEAL
That’s how you start. Get out there with all that energy (which is GREAT thing) and put it to work for you.
If you find a home that you can buy for HALF price you won’t have a problem finding a BUYER. Lock up the deal, and sell it to another investor. Sure, your gonna leave some money on the table but ask your self how long it would take you to SAVE $10,000 or 15,000???
That’s what you should be shooting for. An amount that gives you a SHOT!
Take that money and SAVE IT!! Find another deal, then after 3 or 4 you’ll be able to BUY THESE HOMES yourself and make $40,000 to $50,000 on a deal.
Don’t ask me how to find deals. There is literally VOLUMES written about that on this forum. Search it out!!
Thanx, Everybody! I think I just need a more positive take on RE deals right now! Everywhere you have gloom & doom, yet my instincts are telling me to get out there! I’m narrowing down my investment options, and it’s full speed ahead! I appreciate all the positive reinforcement!
This is a great market to buy at silly discounts… you need to decide on your exit stragety.
Do you want to be a landlord?
Do you want to turn the properties for quick profits?
Do you want to buy, hold until the market turns?
The key is buy right but do not do anything until you have a plan mapped out.
It is a Great Time to Buy; But never be a motivated buyer! Don’t be a speculator…stick to your numbers and take your emotion out of the equation. Remember that you make your money when you buy, buy smart!
Chris