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How To Make Money Buying 'Unwanted' Land & Property In A Crash
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How to make money buying "unwanted" land and property seems like a challenge. But making money purchasing real estate is actually a lot easier than you may think - it just takes a little bit of research, studying up and time. Fresh off making good money from a successful real estate sale, I found a prime piece of land and actually made ~$200k in 4 days by taking some simple steps.
In this video we walk through the details of my land deal that made me an easy $200k and the steps I take finding unwanted land.
STEP #1: Outsourcing
Real estate agents are free to you if you are a buyer. I work with close to a dozen different agents to search for the perfect piece of property for me. But be careful when working with agents.
STEP #2: Identify Work You Want To Specialize In
You cannot be the jack of all trades when it comes to real estate (not a profitable one). Are you specializing in electrical work, plumbing, carpentry, foundation work, framing or land issues? Pick your niche and stick to it.
STEP #1A: FUNDING
Don't make the same mistake I made and not get your funding in order before searching. I lost some great deals because I didn't have my funding/cash secure before searching. I learned my lesson and always have money ready even when I'm not searching. At any moment I have $500k+ ready to buy property. I learned a bitter lesson in my 20s.
STEP 3: BE SPECIFIC WITH THE SCOPE
Know what, where and who you're looking for. The more specific the better. You don't (can't afford) to be broad here.
STEP 4: COMPARABLES AND CALCULATE
Once agents, or you, find a potential investment you have to immediately do a 2 minute comparable search and quick calculations to see what your profit margins and risk will be.
#buyingproperty #realestateinvesting #trashtotreasure
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OTHER VIDEOS YOU MAY LIKE:
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BOOKS THAT CHANGED MY MINDSET:
DISCLAIMER: Some of these links are affiliate links and I may get a very small percentage that goes directly to help support the channel. You will not be charged extra for clicking on the links
In this video we walk through the details of my land deal that made me an easy $200k and the steps I take finding unwanted land.
STEP #1: Outsourcing
Real estate agents are free to you if you are a buyer. I work with close to a dozen different agents to search for the perfect piece of property for me. But be careful when working with agents.
STEP #2: Identify Work You Want To Specialize In
You cannot be the jack of all trades when it comes to real estate (not a profitable one). Are you specializing in electrical work, plumbing, carpentry, foundation work, framing or land issues? Pick your niche and stick to it.
STEP #1A: FUNDING
Don't make the same mistake I made and not get your funding in order before searching. I lost some great deals because I didn't have my funding/cash secure before searching. I learned my lesson and always have money ready even when I'm not searching. At any moment I have $500k+ ready to buy property. I learned a bitter lesson in my 20s.
STEP 3: BE SPECIFIC WITH THE SCOPE
Know what, where and who you're looking for. The more specific the better. You don't (can't afford) to be broad here.
STEP 4: COMPARABLES AND CALCULATE
Once agents, or you, find a potential investment you have to immediately do a 2 minute comparable search and quick calculations to see what your profit margins and risk will be.
#buyingproperty #realestateinvesting #trashtotreasure
▬▬▬▬▬▬▬▬▬▬▬▬▬
RECOMMENDATIONS:
▬▬▬▬▬▬▬▬▬▬▬▬▬
OTHER VIDEOS YOU MAY LIKE:
▬▬▬▬▬▬▬▬▬▬▬▬
BOOKS THAT CHANGED MY MINDSET:
DISCLAIMER: Some of these links are affiliate links and I may get a very small percentage that goes directly to help support the channel. You will not be charged extra for clicking on the links
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