OfflineHi,
I am reading 30 days to real estate cash and I am at:" finding a real estate agent". I called several agents in Orlando, Florida. What struck me was that they said that the market is picking up and that there are multible offers on a house. They also said that when i asked for a list of houses with the criteria price reductions that the houses usually sell for the asking amount.
my question are:
will the strategy of buying 30-40% under the market price still work when the market is picking up? Or is this still part of the 1 in every 25 offers will be accepted?
Or should i go for a different area?
Thank you for your thoughts.
regards, Angela
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I don't know if you live in the Orlando area. If you do, I would say work that area. I think it is best and easiest to learn how to do this business where you live first. Once you know how to deal with market trends like you mention in your post, you can take that knowledge anywhere and it will work! Believe me, there are investors in Orlando making money. In an upward moving market, do they use bottom market strategies? No! If investors are paying above list on JUNK houses than that should tell you something. If owner/occupants are paying over list on move in ready houses that should tell you something.
As a side note, don't make low ball offers on properties that will go to owner occupants. You will go through a lot of agents that way! Offer on investor type properties only. Of course you should be marketing for unlisted motivated sellers while working the MLS!
Good Luck,
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Angela,
I whole heartedly agree with Michael. The tools and strategies you’re learning will work in any market and area. The key to making them work is finding the right properties and make your offers.
Don’t get caught up in what you hear about market trends. The market will rise and fall. They key to being successful is find the right “investment” property.
Run your numbers. Make the offer. Move onto the next one.
Good luck!
Hello Angela!
I live in Seminole County-Casselberry. I can tell you this, every RE Agents has his or her opinion regarding the market trend. For the most part, many RE Agents in Orlando area are NOT INVESTORS, they know how to sell a house but know little about creative techniques. YES, you still can use Dean techniques today... I know it works. Plan ahead and work your plan dear. I still interviewing RE Agents, some are good and some still concern when I ask them if they afraid to "offend" a seller with low ball offers. They are more concern about their commission!!!! Do your analysis, your numbers, and see to it! I attend the local RE Investors Club. If you like to have more info, send mea private email and will be happy to help you out.
SUCCESS MY DEAR FRIEND!!!