Glossary of Real Estate Terms
Getting StartedGetting Started
Getting Started Questions
8 Big Mistakes Investors Should Avoid
It's Not Location Location Location!
Wealth Through Probate
CreditWhy Help Renters Repair Credit?
The Importance of Repairing Your Credit
Winning the Credit Game
Bad Credit Repair Advice
Real Estate Investment Coaching10 Secrets Every Investor Should Know
Benefits of Mentoring
How to Build Wealth In Real Estate
Choosing a Coach and Mentor
The Reluctant Investor
Real Estate Investment Tools12 Reasons to Use an 800 Number
Becoming Wealthy in Real Estate
You Are What You Think About
MoneyMoney Money Money!
6 Ways to Buy Property--No Money Down
Private Money Sources
No Money No Problem
How to Get Free Money
Buying Your Real Estate InvestmentBuying Real Estate in Probate
Buying Property Using 'Subject To'
Buying Property Using Options
Buying Property With Zero in Your Pocket
Finding Good Deals
Managing Your Real Estate47 Ways to Market Your Property
Multiple Streams of Real Estate Income
Mentoring TestimonialsSuccess Testimonials
Ignorance is Costly
Solutions to Problems
Retire with Cash Flow
Needed Some Help
Highly Recommends Mentoring
Important Tools for Your Business
Finding Good Deals
Now learn about Finding Good Deals to achieve your goal of financial success.By: Dennis Henson
In order to become a successful real estate investor there are several major skills that must be mastered. One of these skills is Mining or finding good deals. This skill should be learned, developed, practiced and perfected.
The best way to learn a skill is by actually doing it. Anyone can find a property to purchase. There are thousands of them in the MLS, newspapers, at auctions and For Sale By Owners. But to become a successful investor you must develop the skill of not just finding a property to purchase but finding a “golden nugget” or a really good deal.
What is a really good deal? It is a deal that will almost guarantee an exceptional return on your investment of money and time. Are these really good deals hard to find? No—they are relatively easy to find--once you have developed the Mining skill.
There are many books and CD’s on the market that clearly detail the tactics for locating and purchasing great investment properties. Some of those tactics include:
- Using realtors
- Sellers ads in papers and on the Internet
- Your ads in papers & on the Internet
- Short Sales
- Real estate owned by banks (REO)
- Homes For Sale By Owner (FSBO)
- Homes in probate
- Finding empty homes
All of these tactics work--but by focusing on one or two of them, you should quickly develop the skills needed for success. The most important thing to remember is that in order to locate great deals you will need to make a lot of well thought out offers.
People and institutions sell homes every day for substantially discounted prices. Why? There can be any number of reasons. Banks may have too many homes that they had to take back and now must sell some of them quickly at a discount. Home owners may be paying two mortgages and can’t afford to continue. Some other reasons might include:
- Facing foreclosure
- Death in the family
- Tired of dealing with renters
- Can’t deal with the pressure
- Sometimes they just want out
The reasons why the great deals are available are not really important. The only thing that is important is that you are there with your offer when one shows up. The only way to insure that you get some of these fantastic opportunities is by constantly and consistently making well thought out offers.
There is some great software available to help you determine the optimal amounts to offer for these properties.
Remember finding good deals is a skill you must master to become a successful real estate investor. There are plenty of good deals available--you simply need to learn how and where to find them. If you study and improve the skill of finding deals, learn and work to improve some of the techniques mentioned in this article and constantly and consistently search for property—finding very profitable deals will become easy.
I hope this article will help you in your quest to build wealth through real estate investing. For more articles on real estate investor training, visit my website at www.dennisjhenson.com. Also on that site, you may sign up for free reports, articles, and e-books and find free forms, documents, MP3 downloads and much more. Also visit www.turbobidder2.com for a great real estate investing tool.
Dennis J. Henson
Learn other secrets of success like this: Finding Good Deals.