Wednesday, June 20, 2007

Finding real estate investment opportunities

Let’s face it, inventing in real estate is all about timing and finding the right investment opportunity. If done right, you can potentially make millions. However, if the wrong investment is made, you stand to lose a lot of money. So I ask the question, where do you find a good investment property?

First and foremost, you almost never find a great deal if the property for sale is listed by a sales agent. The reason is simply that the property will likely be priced appropriately, and the sales price includes commissions that are payable to the agent. As a result, you will pay close to the fair market value for an investment property listed through a real estate agent.

With that in mind, where are the local investment opportunities? There are a few, but you need to know where to look. Personally, I like the for sale by owners, pre-foreclosures, bank REO’s and the ever popular divorce attorneys. Generally these groups represent a section of sellers that are motivated and ready to negotiate and sell.

TAGS: REO, foreclosures, pre-foreclosures, divorce attorneys, investment opportunity

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