I found this hidden gem in upstate New York while driving to look at other properties. As I travel the country, I often hear other real estate investors state that there are no good deals in this area. My first response is really? Do they state that as a fact or just an opinion. We all know what they say about people and their opinions. Make sure when you speak with others about real estate you treat what they say as a grain of salt in a thunderstorm. Some of the grains of salt make it through while most of these grains should just be washed away from your mind.
The key to finding great deals on real estate comes down to a few things. Let me share two with you.
1. You have to try to see the potential in a property that others do not see. Any deal can be a good deal, if you get it at the right price and have an exit strategy.
2. If you do not see the deal you want, you often need to create the deal by the offer you make!
As you are driving your local areas make sure you keep looking for those deals. Most great deals do not have a neon sign above the home that reads GREAT DEAL! You have to see the value, see the potential, see the deal! Be sure to notice what others might be missing. Do you know the most important thing you are looking for is a motivated seller? A seller that needs to sell rather than a seller that is just thinking about selling. The more motivated the seller the greater deal you might negotiate!
You always need to be on the lookout for your next deal! The house is in the back of the lot behind the trees, scrubs and tall grass. The house is hidden from the street by all the over growth. This distressed property could be an opportunity if you get it at the right price. You never know what kind of deal you might get until you make the offer. This could be that diamond in the rough we often hear so much about. Go out there and look for your diamonds, they could be down the street or right around the corner. See what others are missing and do what others do not do and soon you will be on your way with real estate investing.
Remember if you are doing wholesaling you do not have to do the work on the property. The work that you have to do is get the property under contract and the work is negotiating the deal with your cash buyer. Your cash buyer will do the work and then rent out or sell the home to a retail buyer. If you have a cash buyer that will do heavy rehab this could have been the house for them! Today is the day you will make it happen. Live life in the moment with no regrets. Believe and Achieve! – Joe Jurek