Real estate investing is often seen as one of the best ways to invest your money. However, what you are looking for is not just any real estate investment, but a real estate investment that will give you a good return. By real estate investment we mean putting money into a property, i.e. buying a property at a low price and selling it at a high price so as to make a profit from it. Therefore, the most important part of good real estate investing is to get hold of such properties that can give you good returns.
Now, how can you get your hands on these potentially profitable deals?
Your first source for finding good deals is your local newspaper (real estate paper). Just search for properties that are listed directly by owners who want to avoid paying a commission to a real estate agent. Since the owner saves on the commission they would have paid the broker, they may be able to offer you a lower price and be more open to negotiations. You can also place your own “wanted” ad in the local newspaper. Likewise, you can use the Internet to search for real estate investment sources. In fact, you will be surprised at the number of real estate investment opportunities you will be able to find on the Internet. Not only that, but it is much easier to search for real estate investment opportunities (i.e. properties for sale) on the Internet than anywhere else.
Another great way to find real estate investment opportunities is to use the services of a real estate broker. Some people use real estate brokers as their first (and perhaps only) point of contact for real estate investment opportunities. Real estate brokers act as information hubs for people seeking to buy property. In fact, many sellers find it much easier to list their properties through a real estate broker.
Multiple listing services are another great way to find real estate investment opportunities. Since the multiple listing book is only available to real estate brokers and not to the general public (unless you are very lucky), all the cream (good real estate investment opportunities) has been taken away before you even see the book. The key here is to look for expired listings that have not been converted into deals.
Another great way to get a property that is a good real estate investment is to look for bank/VA/FHA foreclosures or visit public auctions. You can usually get a good deal here. Divorce settlements are another good real estate investment opportunity.
So real estate investing is really about finding good deals. And finding good deals does take some effort