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what has been other real estate investors greatest success for finding a "good deal"?!?!?! i know its all about the marketing. but has anyone had any outstanding success in one area, theyd like to share?!? I have contacts with real estate agents to deal me about give aways before they post on the MLS. I also get a report of any give aways that hit the MLS. They are usually sold within a couple of hours, so you have to be on top of things. Risky thing to do right now. The good deals vary in areas. I doubt there is a "good deal" on the west coast right now, as there are so many houses for sale everywhere and no one yet knows where the bottom of the market will be. I've made decent amounts in AZ, but that has been fickle at best and I got caught in the current downward spiral when it came time to sell and the house sold for considerably less ($125k) than it would have if I'd put it on the market 6 months earlier. If you are handy with tolls or have access to a contractor in the family, consider creating a partnership to take advantage of mortgage defaults. My greatest success as a real estate agent was helping people take advantage of HUD and VA foreclosures in the mid 90's. Now there are lots of those same houses in the current market. Many are perfect, even already remodeled, but the owners just got to far behind on the mortgage . HUD and VA loans are guaranteed by government, no mortgage insurance required. The homes have to go through vigorous inspections in order to settle so if maintained well, are very good investments. Watch the property tax sales because the mortgages may also be a lien that keeps you from clear title. Flipping homes might be harder now because of the mortgage industry changing so situations like you want to be a landlord for a while might be your best bet until that improves. <a href="http://www.berridgelawfirm">Toront... real estate litigation lawyer</a> |
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