Findit-fixit-saleit learn real estate investing find the great deal
Have you ever dreamed of becoming wealthy or being able to determine your own future? I'm sure that it is something that many people have thought about. If you are a daydreamer like me, you have oftentimes thought a lot about how your future will turn out to be. My thoughts were about real estate investing and how I could find the great deal.
When I became interested in real estate investing I had to do my homework and find out how to become financially independent. My theory was to findit-fixit-saleit. What do I mean by that? You must locate properties that will fit your requirements as an investor. When you findit, you will be doing your due-diligence and finding the property that has the potential to produce income for you. You must do the math and find out if the property will cashflow for you. You can only do this after you have done the fixit part of my theory. Only after you have done the necessary repairs, will you then have a property that will be comparable to the rest of the neighboring properties. Now comes the saleit part of my theory. The property, when all repairs have been done, will pretty much sell itself. You will want to sell the property wholesale when you have someone that is an investor like yourself.
Selling a property wholesale and selling a property retail are two ways of in which you can create income. Wholesaling is when you find another investor that will purchase the property at a discount and sell it to another investor at another discount. It's a win-win for both parties. In order to retail a property, the investor that bought the property at a discount will sell it to someone that wants to live in the property. The investor can sell the property at a comparable price of what the properties in that neighborhood are selling for.
Finding the great deal - real estate can be a profitable way to earn an income and become financially independent. There are many techniques that you can use to purchase real estate creatively.