www.macombinvestments.net | A Real Estate Investment Company

    I have learned a lot about Real Estate Investing this year. I know I have learned from success, mistakes, and  trial and error. I figured I would end the year with a few tips that I have learned so far this year. Lately as a investor I have seen that you can make money in a market that is down as long as you buy right. I am never ashamed to make low offers on properties because if they go through then I got a deal. There are so many foreclosures in Macomb County that I have set my main focus this year on buying foreclosures and auctions. I have tried the probate market a little bit but have not managed any real success there I believe for the sole fact that we are paying such low prices that you really have to find the motivated seller to be able to get the good deal from a home owner.

    The investor tip that I have for the end of this year is finding the right people to work with. When I first got into the business I know I had not much of an idea of the market. Then the market ended up taking me on that investment. There are people in the business that know what the market is doing and it is important that you find the ones working the market that you are working in whether it is the Macomb County Real Estate market or Chicago “Know your market”. I believe that you need to find the business minded people in real estate as well and spend your time around them or on the phone with them to get an idea of what they are doing in the business (or work a deal with them). People who are working real estate as a business on the investor end are people who think about there clients long term not just for one sale. Very important to find these people they won’t be easy to find but they are out there.

    Another thing I have noticed this year being tip number two would be the importance of knowing contractors in the business. Also like the tip stated about knowing the business minded people being investors focus on finding contractors that work with investors in the area. They will be focused on the key things that you need your investments to prosper. First being quality work. This would be for rehabbing/rentals/and land contracts of course not wholesaling. Quality work will determine the ability to move the property and get it being an asset. Second price. they will understand how to get the materials that you need for the job at a good price because you need to be able to find quality product for a good price to keep the investments sound. Third the contractor will be focused on time because time is always in the essence 45 days is plenty of time for a contractor to flip a home. People who wholesale real estate contractors will be real important so you know what the home can do for the investors you sell it to. How much it will cost to fix up is important to know and being able to supply the investor with a estimate is a bonus to get that sale.

    I remember starting of in investing and they give you all of these courses and tell you make 30k in 5 days and you know what there is more to it than that. It’s possible to get a deal and make that in 5 days but there is so much more to it than that. I think the cover robs people of things. Real Estate investing is a business and it takes time to build business’s. You need to develop contacts, establish all the paper work, raise that capitol if you don’t already have it. There is a lot to do including marketing. It’s very important to get your marketing system in place as well so you can sell the properties quick. So my advice if you are in Macomb County or California is to know your market decide your niche weather it’s short sales, foreclosures, or probates choose your focus. Then get your contacts, then the most important thing have faith and come with the goal of making a difference in a community one house at a time!

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