A real estate investor typically must perform all of the following functions in order to complete a successful project:
- finding and negotiating the purchase of a bargain property
- funding the investment property quickly, with little or no money down
- fixing or rehabbing the property quickly with quality work at bargain prices
- renting (or selling) the property quickly at or near top market prices at minimal cost
Finding and funding the right property at the right price is by far the most difficult functions of the process to accomplish for most investors. These two activities are very difficult for full time seasoned investors and almost impossible for part time or beginning investors. In most cases part time and beginning investors literally do not have market access because of the difficultly in finding the right deals at the right price and then getting them financed.
Fixing and renting (or selling) are functions that can be accomplished effectively by most all investors if they are provided access to the necessary contacts and supplies. Successful fixing and renting requires items such as: a network of quality service providers, discount building materials, contract forms, marketing supplies, property management forms, prospective tenant background checks, educational materials, etc. In many cases we have found that part time and beginning investors actually do a better, more efficient job of fixing and renting that the full time investors. This often happens because of two primary reasons:
- the part time and beginning investors have little or no overhead in the process
- they can focus on one project at a time (put T-L-C into each project) as apposed to the full time investor that commonly is trying to manage multiple projects simultaneously.
I am a beginning investor would you be able to assist me with my first house?
The best thing to do is to find a local wholesaler to help you, they usually know where to get funding and have a good list of properties available. Usually the extra cost is well worth the possible mistakes you might make on your own (ie…bad loans, non-optimal purchase price etc…).
Depending on your city i may be able to refer you some.
Hello,
I am new to investing also and have great ideas just need confidence in what I am doing as well as the contacts and the right tools. If you could refer me to a great wholesaler in my area of South Florida or the surrounding areas I would greatly appreciate it! One with knowledge of hard money sources to fund the deals preferred.
Thanks
I’ve been in the investing/renovating arena for 3.5 years. I’m at the point where I can manage two properties concurrently. I have references, P & Ls on previous projects and fairly good credit. Are you able to help someone like myself to take my business level?
Hi, is there some online seminars or webinars about Property Management on the internet?:~-
some insurance companies are very specific when quoting property damage, some won’t even pay a dime.*.’