Define The Criteria For A Good Deal
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Read Transcript for “Define The Criteria For A Good Deal”
What are the best types of real estate investments with the most returns for your time and trouble? There are lots of ways to structure deals. These are what I’ve found to be the best ways to do it so that you make the most money from them.
“Define for us the criteria of a good real estate investment.” – David
Joe: There are two types of deals that you’re looking for. One, properties that are substantially under market value that you can either buy for cash or assign for a fee to another investor. That’s one type. The other type of properties is properties that you can buy at closer to market value or lower (the lower you get, the better) but you have to get them on terms.
Joe: That means “Subject-To”, “Multi-Mortgage”, lease option, land contract or contract for deed; those types of things. You can take those properties without any cash down and without any credit. You can do both of these types of deals but those are the only two types of deals that you’re really looking for.
Joe: There’s also an additional type of deal that you can find which you could sell on auction. You can get these properties for 80-85% of market value and you can still make them work. Even though they’re not substantially under market value, you can still make a profit on those deals by buying them and auctioning them off and doing simultaneous closings.
Joe: That’s been something that’s really worked very well for us. On those auctions, we’ve been able to get 250 people to an auction, and all of the real estate agents in the neighborhood are going crazy wondering how we pulled this off. So, good stuff.