Friday, July 23, 2010

Specific Real Estate Market

You can be a successful investor in your own city or town or you
can concentrate on a specific real estate market anywhere in the
country. You may decide that you want to have two or three private
hard money lenders that you use on a regular basis. One thing is
for sure, if you know how to get your real estate deals funded in
as quickly as 24 hours, you will have the best and most profitable
investment property opportunities at your feet. Do you want to be
in that position? Is that a yes?

This can be YOUR year. Many successful real estate investors are
able to make what they earn on their jobs in an entire year with
just a few good deals. Some successful investors just want to make
a few thousand extra dollars a month. Which is your wealth
strategy?

When real estate property values were rising fast, many investors
sat on the sidelines. Then they got in and started investing when
the property values were already reaching their peaks. They lost
money. Now those same properties are available for literally
pennies on the dollar and without tax liens. You can acquire
them. The properties are there and the funding is there. But real
estate investing is not for everyone. And that is exactly why so
many people are able to do so well in their local real estate
markets. They know which areas of town are difficult areas and
would be difficult to sell a property in. They study the local
economics and don't buy in areas where there are floods of vacant
properties. They acquire the right types of properties that
lenders are seeking to loan on. They know which private hard money
lenders to contact and they do a great job in working closely with
their lender to create a win-win scenario. They get their
properties funded fast because they play by the rules and follow
their wealth strategy.

I remember my first time talking with a lender, over 25 years ago.

I was nervous. There were terms I didn't understand. I learned that
I had asked the wrong lender to loan money on the wrong type
of property. I didn't ask the right questions and when the lender
asked me questions I wasn't prepared. I didn't do my homework
because I really didn't know where to start. I assumed all lenders
were the same. SOUND FAMILIAR?

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