You don't have to be wealthy to begin building a portfolio of real estate investments. Most investors start with a passion to build a better life for themselves utilizing the real estate vehicle as their transportation.
The key to a strong, successful real estate investing business is education! Studying the process as well as the market areas of investment are critical to maintaining a positive growth. Along with ongoing education is surrounding yourself with the right people to get the job done that you need done.
Contractors, electricians, plumbers, property managers, real estate attorney, insurance agent, and of course, a great Realtor that is well versed in real estate investing. Each of these people will play a critical role in the development of YOUR real estate investing business.
When presented with an opportunity to invest-employ your professionals to do their job and research the ups and downs of the specific investment. In other words-do your DUE DILIGENCE! Market and area research-comparable sales, rental income, home owner vs rentals, is the area in a special development zone, are there buyer subsidies for revitalization-this is all research that costs you nothing. This research could be done before you even decide to look at a property, so you can go in armed with information to make a solid decision whether a property could be a good investment or not.
Just like a stock broker-your Realtor should have this information in a short time. If a deal is good, time is of the essence, because other investors will be doing the same research. This makes a Realtor that is working FULL TIME with investors an invaluable resource.
Finding good investments can be a long tedious process, unless you utilize the services of others to keep on the lookout for potential properties. A Realtor that works full time with investors will generate an email list that automatically sends out any new deals that cross their desk. This is a great time saving tool and can make your job as an investor much easier.
I believe the biggest key to working with an investment Realtor is this: Investors who want to sell, many tmes will not list the properties MLS, they will just give the information to their Realtor and have them broadcast it to other investors. This means that these properties, which may be great deals, are NEVER PUBLICLY ADVERTISED!They will only go out to those investors on the Realtors broadcast list. I invite you to join my email list-so you can recieve the 1-100 property deals I send out each week! For now check out some of the listings I have for the rehab investor:
Outstanding Investor opportunities in Baltimore City!
BA6853569 1423 N Milton Ave 21213 $16,000
BA6853618 2426 E Hoffman St 21213 $21,000
BA6853671 2043 E North Ave 21213 $16,000
BA6853730 2318 Oliver St 21213 $16,000
BA6853784 3029 Westwood Ave 21216 $16,000
BA6853821 2853 Prospect 21216 $12,000
BA6853863 1817 Dukeland St 21216 $16,000
BA6853897 1808 Wilhelm St 21223 $21,000
BA6853937 608 N Payson St 21217 $16,000
BA6853963 5004 Beaufort Ave 21215 $16,000
TOTAL separately $166,000
Buy entire package of ten $120,000 28% off list ($12,000 per house)
Seller willing to finance entire package sale with 20% down. Seller is open to financing on Multi-property purchases.
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If you are considering starting an Investment portfolio or are already a seasoned investor-let's discuss your goals, strategies, and portfolio. Call me and see how your business can grow bigger and better!
Stephen Luckett
ExecuHome Realty
LuckNet Real Estate Group
443-912-4866
Stephen, What a great blog. Well organized. A Realtor is an important asset when purchasing investment property and using a Realtor who specializes is equally important.