At what point can you really call yourself an real estate investor?
On a daily basis we receive calls from buyers that state they are real estate "investors" looking for a good deal. But are those buyers qualified to be calling themselves investors at all? Here are my key conversation points that I listen for to determine if a buyer is a true investor!
1. You have done your research! Before you even lifted up the phone to call, you have researched the neighborhood and know the value of the home you are interested in. If you know the value of the home already without me having to tell you and provide you comps. You know it’s a good deal….You may be a true investor.
2. Your cash is ready to be spent! You have liquid funds ready to dispense tomorrow if needed, no mortage contingencies….You may be a true investor.
3. You are ansy and ready to BID now! You arent scared to take a risk. Your pen is ready to sign immediately or you have already sent me an executed contract before we we even speak via email….You may be a true investor.
4. You are experienced! You have closed on homes and sold them again in a 6 month period for profit, more than once…….you may be a true investor.
The bottom line is true investors are daily seeking deals, they are ahead of the game and this is why they get majority of deals before others. They have money ready and arent waiting on realtors to provide comps. They know their target area and know the values. True investors watch homes that are vacant and research them as to when they will be hitting the market. They are professionals, this is how they make their income. They understand this is a daily job just like any others. And if you aren't an investor yet and want to be, you can be….get ready to work hard, study your inventory, get your funds lined up and your hand ready to sign! Recognizing a good deal before others and acting fast is the key to success.