Real Estate Scouting
So you want to invest in real estate, but you don’t have the time or the money to purchase and renovate a property. Real estate investing is much more than just “flipping” houses or renting out duplexes. You don’t have to give up your dream of being an investor just because your time or cash flow is limited; you just have to get a little more creative. Whether you just want to whet your feet or are looking for a way to earn money for your first down payment, real estate scouting may be the answer.
(more…)
Real estate investing is based on a very simple formula. Sell a property for more than you paid for it. To do this, you need to know what a home is worth. Determining a home’s value is fairly simple. No matter where you live, home values are determined by the sales price of other homes in the area. Realtors call this a comparative market analysis.
Market analysis is based on comparable properties. Just because two homes are in the same neighborhood doesn’t mean they are worth the same amount of money. Comparable properties are similar in size, number of rooms, lot size, amenities like garages and pools, and in the same general area. You cannot compare three bedroom homes with four bedroom homes or a 1200 square foot home with a 1900 square foot home even if they are in the same neighborhood.
Once you have several comparable homes, they have to be sorted by the sale date. The real estate market is constantly fluctuating, so the only way to know what a home is worth at that time is to know what people have paid for similar homes around that time. Aim for 3 or 4 similar homes that have sold within the last 3 months. This gives you a price range for the home in question.
This formula for determining a home’s value is simple enough, but it’s not foolproof. Two issues may arise, especially in a down market: homes without nearby recent sales and homes without nearby comparables. In either of these situations, you can expand your search to include homes sold within the last 6 months or find homes in a similar nearby area.
The key to accurately determining a home’s value is to find out what people have recently paid for similar homes in the same general area. Once you master this, you will be able to gauge what a property is worth and what you can expect to make in profit once you sell it.
Very few people can go home every night with the knowledge that they’ve changed lives for the better that day. Dean Graziosi is one of these people. Raised by a single mother, and working two jobs for $90 per week, Dean isn’t coming from a “trickle down” information approach. He’s lived it from the bottom up…from second hand clothes in school to a multi-millionaire.
There are “gurus” out there that tell similar stories of taking themselves from poverty to riches, and they sell motivational books and seminars to tell their followers that they too can be rich. The difference lies in what is being taught. Dean isn’t teaching you just that “you can do it.” He’s teaching you “how to do it.” He isn’t putting forth real estate investment schemes that have only worked for a tiny percentage of those who have tried them. What you learn from Dean’s website and the materials available there are tools for real estate investment success in the real world…..for real investors like you.
Dean Graziosi’s Think a Little Different Real Estate Course is more than just examples of successful things others have done. From Foreclosure Alerts in your area, through monthly live teleseminars and Advanced Education with a personal mentor, no loose ends are left to unravel your plan. A detailed and proven pathway to success is what you get…and you will reach your goals.
Whether you read Dean’s book Totally Fulfilled, gather materials and use tools from his website at DeanGraziosi.com, watch Dean’s video Be a Real Estate Millionaire, or subscribe to his highly successful real estate investment training materials, you’ll be following in the footsteps of thousands of highly successful real estate investors. They got there using these tools and the extensive knowledge gained from Dean’s real-life and repeatable strategies for wealth.
Stimulating hope with hype is effective…for the seminar provider. Providing help, through real tools with recurring success over time, is what will actually get you to the result you seek.