OfflineThere are many grey areas in real estate investment. There are so many people that have different opinions about what are good property investment and they are often able to give elaborate reasons why they claim that their methods are successful. This can make it very difficult for people who are considering real estate investment as an option, since it can be very difficult to sift between all those many opinions in order to arrive at those ones that are truly of value.
The one believes that the right area are the most critical requirement, others say that the most important consideration are to make sure that your calculations are correct. While all of these things have certain value, one is never certain if something is neglected. It is tremendously important to be aware about what is going on in the market. There will always be important indicators for the investor who knows what to look for and it is often wise to go with the general opinion of the market.
Never take the opinions of others for granted, always ensure that you do your own research and see for yourself what are going on. This is always safer, and better than to realize later that you allowed yourself to be led by the nose. Rather ensure that your own research is as comprehensive as possible and that nothing will surprise as you attempt to finalize your investment. Never rely on others to do the ground work for your investment. This is something that you should rather attempt yourself.
Besides, there might be developments that are uncovered that you would rather keep private so that your investment is not compromised. There is nothing that is as disappointing as an investment that goes wrong because of someone that was not discreet. There are few things that are as satisfying as an investment that were finalized satisfactorily and are now yielding healthy returns. Therefore it is up to the investor to do everything that he possibly can to ensure that everything is in place.
Never ever take the property agents word for the value of the property. He might have his own agenda and might try to take advantage of you. Do you own research and ensure that you pay what the property is really worth. Never forget paying too much when you buy a property is always a very bad idea, since it is almost impossible to recover that money later on.
...thanks for the coaching. I am new at this and focusing on wholesaling to start. Seems pretty obvious to me as I read and listen to seasoned investors that building a strong buyer's list is key. I have a seasoned investor in my family that tells me ''If it's a good deal, the buyer will show up.'' Is this true too?
"I can do all things through Christ who strengthens me" Phil 4:13
Heide. I would say in general, that would be a true statement. Obviously, having a solid buyers list is the quickest and safest route to pursue. But, I do agree. If the deal is good enough, you’ll be able to get a buyer to take it off your hands, in many cases one of the buyers you already have. Remember, that as a general rule, buyers are always looking for good deals. If you find one, your buyers will come.