OfflineDoing your homework on your deals is one of the most important things you can do in your area and property to make money on these deals. Especially for those who will be wholesaling deals to other investors. These investors are paying us for our expertise and research on the property as well as the area. We need to become the expert in the target areas that we will be working in. Take time to get to know the area, the demographics, the school districts, the crime rates, the average income of families in the area, the average sized homes, and the average price range of properties in the area. This will help you to make educated, and even more importantly, calculated offers giving our investors great deals and allowing us to make great money as well. Any of this information and research can be done on the internet, or directly through the county courthouse. Keep in mind, your investors are paying us for not only the great deal, but they are paying us for our expertise and information. Make it Great!
Happy Investing!
Matt W.
Below is a link to a site where you can research most of the information for a city where you plan to invest...
http://www.city-data.com/forum/florida/26656-demographics-website.html
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
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
The more homework you do up front the better your decisions are going to be. I remember my very first rehab project. I had to borrow money from a family member. I purchased a condo that didn't have anything inside, the place was completely gutted. No cabinets, no tub, holes in drywall, no doors, it needed a lot of work. I was lucky and knew how to do all of these things and spent a month fixing the property.
I still have this property today and cash flow about 300 per month on it. I have made over 24K in just rental profits, and another 20K in equity reduction and write offs. That is why I love real estate.
Homework is a huge part of success.
Mikessler
I always say Keep Moving Forward! Never Give Up On Your Dreams!
As Matt Larsen says "Feed the Need" - Edge 2013
Follow my daily investing journal and read about the deals I've done and am working on at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/117493...