Welcome again, real estate friends! Today I’d like to talk with you about the Six Weakest Points of Investing; faux pas made by beginner and experienced investors alike. This is simply because of a lack of understanding of why: why you’re looking at the deal, why you’re interested in buying it, and why it could be profitable.
- If the house lacks curb appeal, it will be difficult to buy or sell later on. Know what you’re looking at.
- What are the numbers of the deal? What is the seller asking? What can it be resold or rented out for later? What are the holding costs?
- Talking with the sellers and negotiating for the property. Build rapport and ask the seller why they need the money.
- Structure your offers so they make sense for you and for the seller.
- Consider all your financing options. You don’t need cash if you work with the seller to create desirable terms for them and their goals.
- The weakest point for most investors: How to maximize the profit. Always think about how to make the deal better, such as offering the seller a higher price in exchange for a lower monthly payment.
Don’t forget to visit me at LarryHarbolt.com for all your real estate investing educational needs.
Good Luck and Happy Investing!