Before I invested in my first multi-unit property I attended over 40 seminars and workshops spending well over $10,000.00 counting the books and courses I read through.
This is an excerpt of what I learned along the way with a couple of checks showing some decent profits in the complete manual. I suggest you start the manual in Chapter 2 to skip my somewhat boring story.
There are many ways to find a property. Word of mouth,driving, realty agents, the courthouse etc…as a beginninginvestor you should focus on discounted property to get themost for your investment dollar.
What is discounted property?Discounted property is aproperty that you can purchasemuch less than the appraised value.
Every investor has thererule of thumb but I like to consider a property a discount ifit is 50% below the average selling price of like properties inthe area.
Some examples of discounted properties are thosegoing into foreclosure, tax sales, abandoned, sellersrelocating, divorce, death, auctions, estate sales, etc…
These and more are good discount properties and can benefita beginning investor and future homeowner. I will talk aboutthree forms of discount property. They are foreclosures, Taxsales, and abandoned property.
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