Hi, this is Christian Fautz with Core Real Estate Properties. Today I’m going to talk about investing in real estate, which we all know is one of the greatest ways to create wealth. However, it’s very important when you find that perfect investment property to pay to know how to get the deal done quickly. You got to know how to close fast, and by closing fast, it saves you money and also most importantly, avoids you missing out on the deal.
Some other points that we need to consider are first set your criteria, like what type of house are you looking for? Are you looking for a three bedroom, two bath, concrete block? Are you looking for a property with a pool, a garage? So really set your criteria on the type of property investment that you’re looking to make.
The second thing is you’re really got to know your area. I’m based here in Fort Myers in southwest Florida, so I focus on some key areas in Fort Myers, Cape Coral, Lehigh Acres, North Fort Myers, Stero that I focus on. So know your area. Very important.
Next, know your budget. You don’t want to go driving neighborhoods where there’s 500, $700,000 houses if you’re looking to buy a 100 or $150,000 house. So know your budget on the type of property that you’re looking to purchase. Next thing is very important if you’re going to be doing a fix and flip is know your renovation level, how much money do you have available or can you get access to for the renovation of the house. So, very important to know that as you’re looking at properties.
Next is you need to know where to look. So there’s different ways you can find properties. We use different types of methods such as driving for dollars, we have cold callers, we do mailings. So those are different things. You can also work with a professional such as us here at Core Real Estate. A lot of both novice and experienced investors work with us where we help them source different properties that they’re looking to purchase or maybe they’re looking to joint venture with our company. So those are different areas that you can look in.
And also be prepared. Be ready to close. Have your financing set up whether you’re self-funding, you’re partnering or you’re getting a loan. So make sure you’re be prepared. The one thing that could really cause you to stumble and lose the deal is not having your financing and being prepared to close when you say you’re going to close.
The next thing is get your inspection set up. Get that done as quickly as possible. And lastly, and most importantly is don’t hesitate. Once you’ve done all your homework, you’ve done all your due diligence, a lot of people, they freeze up. They don’t know what the next step is. Should they sign the contract? Should they make the offer? Don’t hesitate. If you’ve done your due diligence, you’ve run your reports in your analysis, pull the trigger, and make the deal happen.
So I hope this helped you, a little tidbit today, and you can visit us at corerealestateproperties.com to learn more about our company. And you can email me directly, christian@corerealestateproperties.com.
Thank you.