- June 26, 2022
- Posted by: Dennis
- Category: Real Estate investing
I have gone on to do a whole bunch of probate deals, all of which have made my company large sums of money. In fact today the main focus of my business is on probates (REOs are a close 2nd) mainly because the potential profit margins can be huge and the competition is extremely limited. So what is it that allowed me to achieve success the third time around that I couldn’t find on the first two tries? Well in the hind site there were a number of things and all of them were small details, but those small details are what can make or break your business when it comes to probate investing. 1. Some people are not going to have nice things to say about the fact that you want to buy the house of their deceased family member. This is one aspect of probate investing where you just need to have thick skin and get over it. I don’t like to deal with these types of people as much as anyone, but you can actually set up your marketing systems to limit any interaction with them.
In contrast, a real estate investor may have to sell the property at a substantially lower price than desired to ensure a quick sale. Of course, a real estate investor may be able to raise a limited amount of cash by refinancing the property. Huge amounts are generally necessary to invest in real estate. It is not easy to invest in real estate without professional guidance. Investment decisions must be based on careful studies of all the facts, reinforced by a thorough knowledge of real estate and the manner in which it is affected by the marketplace. Real estate has need dynamic administration. A real estate investor can rarely sit idly by and watch his or her money grow. Administration assessments must be made. The investor may want to manage the property personally. On the other hand, it may be preferable to hire a professional property manager. Physical improvements accomplished by the investor personally may be required to make the asset profitable. Many good investments fail because of poor management. Finally, it involves a high degree of risk. The opportunity forever survives that an investor’s property will diminish in rate during the time it is held or that it will not make enough income to make it advantageous.
Does it happen? The answer is yes, all the time. If you have your eyes open and are willing to ‘go through the numbers’ to find good deals, they are all around you. You may be asking yourself, why would anybody sell a $110,000 property for $100,000? Value: Making money when you buy. The reasons are endless as to why a quick sale is desired, but just to name a few: job relocation, divorce, an estate being settled or maybe a current appraisal on the property simply wasn’t done prior to selling. By ‘finding this deal’ you have accomplished two things. You have added $10,000 to your asset column in the form of equity. You have created additional LEVERAGE for yourself as the value of your property increases (a 6-10% gain on $110,000 is better than a 6-10% gain on $100,000!) Remember, you make money in Orlando Investment Property when you buy, not when you sell. Control: Let’s take our assumption one step further.
The city is home to national and multinational banks offering loan schemes and financial investment options to investors wanting to invest in real estate in Mumbai. The quality of infrastructure matters when it comes to making urban real estate investment decisions. Mumbai has an excellent network of roads and flyovers, a suburban train network, Mumbai Metro and a bus transportation system to get you from one part of city to another in short time. It also has reliable and affordable energy, excellent telecommunications system including high-speed internet. Secondly, Mumbai also has some of the best schools in the country offering education in various fields. The city also boasts of some of the top hospitals across India offering high-quality medical and health care 24X7 to locals and international patients. The nightlife in Mumbai is always bustling and throbbing with some of the best restaurants, bars, cafes and hotels available in different vicinities across the city.