For a real estate investor, finding a hidden gem of a property to buy low and sell for a big profit is the name of the game. Finding a diamond in the rough is what separates a real estate investor who becomes a huge success and one who is still looking to break through.
But how does a real estate investor find the properties that other people don’t see?
The best info wins for a real estate investor
First, it starts with the best information. Real estate training and real estate coaching like a real estate investor can find here on kentclothier.com is a great start. A real estate investor wants to learn from others who have done nitty-gritty work so the real estate investor don’t have to try and fail as much before uncovering a gem.
More great information for a real estate investor can be found online. The Internet has hundreds of sites advertising real estate for sale, many of them bypassing Realtors in order to save cash for both the buyer and seller. Google+, eBay, Facebook, CraigsList and numerous other sites have houses listed For Sale by Owner. These owners may have only done limited research about the true value (and potential value) of their property. A true real estate investor will have learned much more because of their real estate coaching.
A real estate investor knows how to fix a fixer-upper
A real estate investor can also find a hidden gem by learning much more about how to truly evaluate and budget for the changes and improvements they will have to make on a lower-priced property. If a real estate investor finds serious problems like poor wiring, bad pipes or a troubling foundation, they will able to hold a bargaining advantage with the owner, all while knowing the true size of the potential profit a real estate investor can make off of the home. Having a professional knowledge will enable them to spot which homes are best, despite how they look, and which ones are beyond a real estate investor’s help.
A real estate investor can tap their resources
Another way to find a great gem is to connect with professionals in your market – a plumber, carpenter, electrician – or even a professional home inspector – are going to know the owners who are ready to give up on an older piece of real estate or are shopping it around. While they may not be a real estate investor, they understand if a piece of real estate has potential.