It’s true of any business that the value of an opportunity is equal to the difficulty in finding it. If great deals were very common, pretty soon, they wouldn’t be great deals. Everyone would want in and the price would go up.
Real estate investing is no different. The best deals are not sitting out on the MLS waiting for you. Many of those properties are bid up to an unprofitable level as soon as they come out.
If you want the really good deals, you’ve got to be a detective. First you have to find the property, and then you have to find the owner.
You can’t buy a property if you don’t have a seller.
The Internet Replaces the Repo Man
Well… not quite. The Repo Man still needs to do the ‘Repoing.’ But the internet can give you some great ways to track down the owner of a house you want to buy.
Say you are doing the old Driving for Dollars –you drive past some houses with the tell-tale signs that nobody is living in them:
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JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.