The Obvious is Elusive – Where do I start?
By: Jeff Tumbarello
Most people new to investing ask. Where do I start? That is a great question. There a tons of people to sell you tons of products to help you with this.
Bob Hunter founding President of Dade REIA spent his time as a new investor on ISC pulling comps on the market he wanted to work in. The entire deal wins or loses on the buy. Unless you are willing to hold long term. You can not judge deals unless you have a good awareness of the market. In this market you have to be prepared to move quickly.
There is so much knowledge to be had for free or very little. Here are some sources
- www.realtor.com it’s a little rough but I good idea of what is on the market, search by zip code and Square footage
- www.realquest.com costs 200.00 a month per county, Club members get a discount 20% contact Lynda McNally, First American Real Estate Solutions Tel: 727-528-9422
- Some appraisers will give what’s known as a pencil search, I do not like to wait so I get my own data
- The newspaper lists sales in.
- Ask your realtor to provide closed sale info for your farm market
- www.bankofamerica.com has a free home value search
In this market you can not go off closed sales alone you must use current listings and closed sales. I hope this helps the newbie’s get a start. People tend to emphasize where the leads come (it sells lots of courses) from versus how to qualify the lead. Whether you are getting leads via pre-foreclosures, tax deeds, foreclosure sales or MLS. Without a good value its all for nothing. Over or underestimating value is one of the biggest mistakes around
Allied Mortgage & Trust Inc
1524 Jackson STR
Ft Myers Fl 33901
239 481 3000