Knowing your numbers. 09/29/2011
Knowing your numbers. I'm sure that most investors already know the following but for those who are new and or just want a refresher the most important thing to know are your numbers. Now I'm not talking about cost of labor and or repairs I'm talking about local market stats. Do you know exactly the days on market? Do you know what price range has been the hottest? Do you know what type of property has sold the most recently? All of the above questions must be answered in order for you to be able to know exactly what will be your purchasing and exiting strategy when buying a property. I mean there is a great deal of other information you must consider but knowing your market is the best way to insure your potential investment doesn't turn in to a nightmare. How do you know your numbers? Well there is a great deal of sites on the web that offer access to MLS like information. The only real and accurate way to know for sure is working with the local MLS. A lot of the sites may be outdated or slow to record and show new information and if you’re in a market that constantly changes which now a day is every market not having the most recent and accurate information can cost you big. I know most experienced investors don't want to bother with a real estate agent or broker your determined to find the deals yourself but think about your real estate agent and/or broker as your tool. I know most might lol at that and twist it around the whole tool reference, but let’s be serious for a second. You need the most accurate information possible to make the best decision. You need someone who has buyers or is able to generate you buyer's fast. You need someone to assist with any real estate related issues that might come up during the purchase. You need someone to take the time to do the marketing of your investment from the design of fliers to the video tour all the way down to the showings. You need a way to track feedback from all your showings to collect that data and insure everything with your investment is good in the eyes of potential buyers. You need someone to cover your butt legally when it comes to disclosures and other requirements whether it be city/state/federal. You need someone to stay on top of the buyer their lender and their agent to insure they are working and negotiating in good faith. All the above and much more are provided to you by one person your real estate agent and or broker. I know we started this as know your numbers and that is what I wanted to re-in force yes know your numbers but don't try to save $1 to end up losing $20. Your numbers are best provided to you by a real estate agent who is actively listing and buying homes for his or her clients. No matter what a real estate agent or broker is on the front lines of the housing market and has the best idea of what is really going on and what is going to sell or what is a good deal. I know that full time investors have their own systems and ways of doing things but any successful investor that I've worked with or just met who is investing and doing it successfully has his or her real estate agent or broker who she or he counts on for accurate and timely data to help that investor make wise informed decisions. We understand that times are different and profit margins in some areas have shrunk so we have created a new retainer pricing structure for our investor partners. This saves you thousands of dollars while providing you not only everything a real estate broker should but also insurance to protect you from legal issues that most brokers are not providing their sellers. For more information and to set up your no cost, no obligation consultation, please don't hesitate to contact us. We work distressed properties/probates/REO's/wholesale properties/ short sales/ rehabs/ and much, much, more we find properties off market and can help you find exactly what it is your looking for from single family homes all the way up to large commercial. Guillermo Serafin, Affiliated Broker Cell 424-209-8297 Text 424-265-5992 g@amlsonline.com Office 310-547-1436 Fax 866-408-0563 Toll Free 855-GET-AMLS Asset Management & Liquidation Solutions, INC CA DRE 01900987 CommentsLeave a Reply | Guillermo SerafinI have been in the mortgage and real estate business since mid 2004. I started as a loan officer and shortly their after learned the real estate side of the business. When I attended the real estate training taught by my first broker and mentor the first day of class I knew this was what I was supposed to be doing. I have never looked back and have always looked to expand my knowledge about the mortgage and real estate business as well as the financial markets. As I transacted in my business I learned that no one really was looking out for the client’s total interest. I mean really looking at their financial picture as a whole and assisting them to create a game plan for long term success. I thought to myself this has to change there has to be a better way.. As I did more and more research and brain storming I found that better way. I learned the fix annuity and life insurance side of things as well as the property casualty business. I’m constantly striving to learn and expand my abilities as a wealth accumulation expert. ArchivesNovember 2011 CategoriesAll |
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