A Question For Wholesalers....................
I' m basically just using Ron' s system (driveing for dollars), but I' m not that familiar with the area I' m investing. I know how much homes are worth in a particular area, but haveing to find the all the houses (and roads) in a short period of time has become time consuming. Is there a better way
Practice makes perfect, if you've found the right area, stick to it and you'll learn
Maybe my question may be a little confusing. Let me rephrase it.
If you knew an area was a hot market, but you just couldn' t get to it. What would you do?
Murphy
When yuo say can't get to it, I must be misunderstanding you. If you mean cannot physically find the area, it might not be that hot, or, I'd purchase a map...again, clue me in, I'm sure I'm not understanding you
People invest in property thousands of miles away with success. You will probably need to setup an agreement with a local property mgmt firm but would still swing by there once a month.
GL
Hey,
I would spend some time on the internet learning about the city and determinging two, three or four AREAS of the city I think would be good for me. Maybe areas experiencing rehab or high rental or whatever. The I would drive to those areas and spend two days (a weekend) drivng around and really learning the streets. If you see houses great, but I would get information so I could do mailings.
Murhph:
You need to first designate what is your "playing field" and stick to it! Spend a 1/2 hour a day studying comps in that area. There are title companies out there that will give you a report of past sales for the month. Study these reports so you know exactly what prices are in these areas...
If you want to be a successful investor, you need to know what property values are in your "playing field" by + or - $10k.
Then you can back this up by title company comps and MLS comps...
Best Regards,
Jeff Adam
[addsig]
Thanks you guys!