Straight into it.
How do you select the right deal?
Selecting the deal is important in real estate investing, the better you are at choosing the right deal- the better your long term returns will be through investing in real estate. So how do you find the right deal?
The process is simple, you have to be willing to do the work in browsing many deals and you have to know what to look for in finding the right deal for you. Your ability to spot value in the property will depend upon experience and your willingness to browse more properties. The more you browse, the better you will do at selecting the real estate deal.
Things to look for:
- Large differences between price and the true value of the property.
- Finding deals selling at discounts due to damage, in which you can spend little money on fixing these problems.
- Finding a property in a relatively good area, depending on how much you are seeking to spend.
These are simply a few things to look for when it comes to finding the right deal.
To find the right deal, you need to be able to distinguish between price and value, this is easily done through comparing the value of the asset to similar assets- properties with the same features and in areas of the similar catchment and ranking. You don’t need to be doing anything special to find good deals, it simply comes down to your ability to find value.
The process is simple, the more properties you view, the greater your end selection will be.
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