I love sports. I love the competition and strategy. I find it amazing to see how many great athletes stick to the basics in their daily routines. Larry Bird shot hundreds of jump shots daily with just a ball boy. Nolan Ryan ran in 6 feet of pool water on a regular basis to maintain strength. Peyton Manning memorized an NFL playbook before every attending an NFL practice. All of these geat players, and many others, learned the importance of basics.
We too should know the basics of our business. Start with the types of properties to look for in our wholesaling business. When we classify our properties appropriately, we will do well for ourselves and our buyers.
Think of properties having three different catagories. The first is call "Condition". We should look for properties that are being sold "as is" or as a "handyman special". The property will need work and will not be considered cute and well cared for. We need them ugly.
The second catagory is "Motivation". We are looking for properties that have motivated sellers, price reductions or that have been on the market a significant amount of time above the normal "days on market" in an area.
Finally we are looking at the "Property Condition". We should look at REO's, estate sales or probate sales. In the end the property needs to be vacant.
If we have somemthing from each catagory we have an "A" property. A "B" has tw and a "C" has one. "A" properties are what we need and must make our offers on.
I love sports. I love the competition and strategy. I find it amazing to see how many great athletes stick to the basics in their daily routines. Larry Bird shot hundreds of jump shots daily with just a ball boy. Nolan Ryan ran in 6 feet of pool water on a regular basis to maintain strength. Peyton Manning memorized an NFL playbook before every attending an NFL practice. All of these geat players, and many others, learned the importance of basics.
We too should know the basics of our business. Start with the types of properties to look for in our wholesaling business. When we classify our properties appropriately, we will do well for ourselves and our buyers.
Think of properties having three different catagories. The first is call "Condition". We should look for properties that are being sold "as is" or as a "handyman special". The property will need work and will not be considered cute and well cared for. We need them ugly.
The second catagory is "Motivation". We are looking for properties that have motivated sellers, price reductions or that have been on the market a significant amount of time above the normal "days on market" in an area.
Finally we are looking at the "Property Condition". We should look at REO's, estate sales or probate sales. In the end the property needs to be vacant.
If we have somemthing from each catagory we have an "A" property. A "B" has tw and a "C" has one. "A" properties are what we need and must make our offers on.
Best of luck.
Roy Voeks
Official RE Coach