In those years when I did the real estate investing, I saw that there are some rules, which, good or bad, are always true in all markets. I bought properties all over homestead real estate, and these rules work.
There are numerous of these rules, but I will give but a few. Follow them to your advantage and profit, ignore them for your risk and danger.
The Money is Made When you buy, not when you Sell
If you buy at a discount, you’ll never go wrong. You will not even buy the most liquid building in the world, but when you have a margin to sell it, everything becomes easy.
Vice versa, if you buy with little discount or market price because “so much the market goes up” you find yourself handy with the match lit in hand.
Always Buy From a Motivated Seller
Who is a motivated seller? One who wants to sell, or a person who no longer wants to keep that property for any reason. So you’re not wasting time with someone who clearly has time or money and wants to make the most of it. Look for someone who does not have time and maybe even money. He or she will certainly be motivated to sell their Redland homes at a bargain price.
Fall in Love with the Deal, not the Building
It happens that you like a building, maybe even a lot. From that moment on you can no longer be objective. But remember that it is never the building that makes money, the brick does not put in the bank. It’s the deal that this property represents that will make you some money. So always focus on the deal, never on the building.
The Real Estate Deal of your Life Happens Every Week
Real estate deals always exist, in every market period and in every market. If anything, the problem is to find them. But to start finding them, you have to start believing that they are there. If you start believing you can find homes at least 30% off, with financing options to your advantage and with easy and profitable sales opportunities, you will start to find them. Every week there will be at least one chance to make a real estate deal. So if what you’re dealing with does not fully convince you, believe me, the sea is full of fish. Switch to the next property. I recommend you try buying in unincorporated Dade homes as there are a lot of homes to make a good profit from there.
These are truly the basis for investing in real estate. And if you decide to become a real estate investor, you will come naturally. And as you can see they are simple and based on what you can call “commercial intelligence”: buy low, be good at negotiating, do not fall in love with the products, but the wealth that the products bring you when you sell them!