Investing 101: Finding the best deals in Las Vegas
For first time investors, the real estate industry is no walk in the park. In fact, countless times we hear them complain, "There aren't any good deals at all."
But those who've been in the business long enough to know the tricks of the trade know that there can hardly be any dearth of good deals, especially in a city like Las Vegas. It's just a matter of finding these deals in the right places and in the right ways.
So where and how do you start?
Go house-hunting. This may sound like another one of those business cliché that's straight off the book, but truth is, you can never find the best deals unless you go out of your way. Spend time to do field work like personally looking at properties and meeting owners before somebody else beats you to it. In other words, knock on doors, if you must.
Remember, other investors hate the idea of personally knocking on somebody else's door in the hopes of sealing a deal. This should give you all the advantages in the world. With less number of investors willing to do the dirty work, you're a mile ahead than the rest.
What should you do once the door is open? Throw in a sales pitch. But hey, be subtle about it. Instead of mentioning the word "foreclosure", simply tell them that you were doing a little research and found out that the property has some pending problems and that you'd like to help. By making it known that you're offering options and solutions, people will warm up to you instead of think of you as a greedy businessman.
Send out postcards and mailing lists. Don't limit yourself to owners whose properties are about to be foreclosed. Instead, be resourceful. For someone who has just been through divorce, a piece of land won through settlement may just be too tempting not to sell.
But those who've been in the business long enough to know the tricks of the trade know that there can hardly be any dearth of good deals, especially in a city like Las Vegas. It's just a matter of finding these deals in the right places and in the right ways.
So where and how do you start?
Go house-hunting. This may sound like another one of those business cliché that's straight off the book, but truth is, you can never find the best deals unless you go out of your way. Spend time to do field work like personally looking at properties and meeting owners before somebody else beats you to it. In other words, knock on doors, if you must.
Remember, other investors hate the idea of personally knocking on somebody else's door in the hopes of sealing a deal. This should give you all the advantages in the world. With less number of investors willing to do the dirty work, you're a mile ahead than the rest.
What should you do once the door is open? Throw in a sales pitch. But hey, be subtle about it. Instead of mentioning the word "foreclosure", simply tell them that you were doing a little research and found out that the property has some pending problems and that you'd like to help. By making it known that you're offering options and solutions, people will warm up to you instead of think of you as a greedy businessman.
Send out postcards and mailing lists. Don't limit yourself to owners whose properties are about to be foreclosed. Instead, be resourceful. For someone who has just been through divorce, a piece of land won through settlement may just be too tempting not to sell.
posted by realestatevegas | 7:31 AM
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