Finding Properties
How do I find properties? Ok are you serious? Banks are giving properties away right now just waiting on you to buy and rehab them. They really just don’t want the headache of them. Foreclosures are at an all time high right now. So here’s a list of where to get properties in no particular order.
- For Sale By Owners
- Struggling Landlords
- Banks/Financial Institutions
- MLS/Realtor
- Referrals From Mortgage Brokers
- Referrals From Title Companies
- Sheriff Sale
- Tax Sale
- Wholesalers
- Auctions
- Attorneys
What the heck are you going to do with a property once you have it in this market. Well this is a game right now of only people with DEEP pockets who can afford to rehab and hold the properties long term. You are going to have to fix them in order to get good tenants in place. So guess what? All of your aspirations of becoming the millionaire flipper have now turned into becoming the broke landlord. See that is a lesson here to learn. It’s all about cash flow in life. I know that now. And when your properties are paid for free and clear there’s lots of room in your life for cash flow. Cash KING. It really is. I promise. I was one of those people who believed in racking up credit cards and taking out mortgages and more debt, more debt, more debt. If I had structured my business properly I really wouldn’t have to work today. So I guess the long of the short is better be prepared to hold onto all of these beautiful properties you are buying. So make sure you are financially able to do all of this. Don’t invest in real estate if you have credit card debt or a car payment either.