Most real estate professionals flunk within the first few months of trying to create a business enterprise out of real estate investing. The trick begins with a beneficial marketing plan and then practicing a disciplined effort to the marketing plan on an even basis. There is a lot more required to succeed, and you will encounter more tips, tricks and unique real estate marketing techniques from other investors.
The real estate market is one of the most profitable investment today but amidst the foreclosure lists or lying dormant on a real estate agent’s desk, the most important key is to find a highly motivated and urgent seller. The idea is to negotiate a lower price on a piece of real estate requires the seller to want to sell their house quickly or desperately. If you are talking to an unmotivated seller on the telephone, then it will soon be very clear that you are not going to get a discounted price on this real estate. If the seller is unmotivated then you will be unable to negotiate a lucrative deal.
One counterintuitive aspect of real estate investment is that you normally make a profit when you buy real estate and not when you sell it. This means that, while it is often little you can do to increase the value of real estate; sellers are human and are often willing to negotiate their price. Saving money while buying real estate is the key to selling homes for a profit in the real estate market.
With that in mind, your first step is to develop a list of real estate properties that you are considering investing in. You are going to need to view around ten pieces of real estate before you carefully choose which one will be your chosen investment.
One useful technique for sourcing profitable real estate properties is to interview real estate agents; the people that profit from real estate daily. Interviewing a real estate agent and finding out if they own any investment real estate they would be very useful. Remember, they will be more than willing to be interviewed because you are offering them your regular custom.
Real estate agents understand the market “inside out” and can be an excellent source of investment properties with low prices because others have not seen or understood the potential of them. After you create a good relationship with some local real estate agents you will typically receive a phone call every time they notice a good property reach their desk. Remember, they receive a lot in return for this relationship because of the more real estate that they sell the more commission that they earn.