The Skill of Estimating Repairs
…a key skill you need as an investor. As a real estate investor (e.g., rehabbing single family homes), this is a key skill you need. Don’t rely entirely on contractors and tradesman to do this. Remember you are competing for good deals so you don’t have much time to analyze and…
Searching Keywords
In my previous post, “So Where are the Bargains At?” I shared where to find deals. You want to look in places where owners want to sell. Deals go quickly so develop the skill to pinpoint them. The key is finding owners that need to sell (as opposed to want to…
So Where are the Bargains At?
…Sources and ways to find deals that can make you money… Sources: Your Network – don’t forget to constantly network with whomever and whenever. Always have the “I’m in the hunt” mindset and take massive action. Your Marketing Machine – see Ways to Find below Realtors – investor-friendly seller or…
By My Estimation…
How to quickly estimate the repair costs… …of a house you’re thinking of flipping profit. Master this skill so you can estimate repair costs (even without physically seeing it) so you can quickly decide if you have a good deal. With time and experience – you can accurately estimate. It’s…
Do you remember the KISS?
Yes – Keep It Simple STUPID Especially when first starting your rehabbing house business – keep it simple. Pick opportunities that are simple and straight forward to renovate. Focus on houses that need moderate cosmetic repairs. Avoid large and/or complex renovation projects such as ones with structural damage, room additions…
Flip It or Grip (Hold) It
Which real estate investing approach is best? Buy and Hold (Rentals) Pros: add’l income | asset appreciation | leverage | tax advantages Cons: renters/vacancies | unexpected expenses | mgmt/expenses > income Buy and Sell (Wholesaling) Pros: generate cash | no credit needed | good for beginners Cons: not…
