OfflineHere are the 6 elements of real estate success:
1) Finding Deals - Not just finding property.
2) Evaluation - Three parts to evaluating deals:
a. Circumstance - identifying the needs and motivation level of the seller.
b. Condition - doing a property inspection.
c. Profitability - calculating how much money can be made and deciding how to make it.
3) Offers & Contracts - Contracts that protect you; presentation skill to get it accepted.
4) Financing - Two areas deal with financing:
a. Finding flexible and usable lenders.
b. Creative financing techniques.
5) Exit Strategies - Understanding the higher and better use principle.
6) Find a Need and Fill It - The crown jewel of investing fundamentals.
Feel free to ask any questions on these elements to get more in depth information.
thanks for putting this list together Coach! I'm sure it can be of great use for some of us...
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
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I think this is a very good list.
As an investor who has been at this for a while, I can look at this at comprehend exactly what each one means. Looking at it through the eyes of a new investor, I can see where breaking it down and giving a little more basic explanation to each point could be helpful. I try to always remember how overwhelming this was in the beginning.
Thanks very much for this outline!
Karen
"You're never too old to be what you were meant to be!"
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"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"