The first stages in the world of real estate investing What is the first stage of a successful real estate transaction? After making the decision…
The first stages in the world of real estate investing
What is the first step to a successful real estate deal?
Once the decision is made to invest in real estate and after choosing the market the next step we need to perform is an in-depth market survey.
An in-depth and professional market survey is done on foot and not through rumors.
Because if you have decided to invest according to the opinions of others, it is better that you do not invest at all because even so, chances are you will fail!
So why is it really important to go hours and hours to learn the market you are starting to work in?
Once we really walk around and learn the market through our feet we understand how the market works, what really happens in it, when it happens, why, etc. etc. etc.….
We understand who the population is, what their needs and abilities are, how they operate and why?
No one can challenge us and we know all the market prices ..
We know all the neighbors in the area and all the house committees, and as soon as a new apartment goes up for sale we will be the first to see it.
(Why not be the first to buy? Because it may not always suit us.)
In addition we will have some more negotiable cards that we can use,
Thanks to the market survey we did ourselves and not through brokers or through rumors and friends.
(You will discover the same cards during the market survey and the conversations with the neighbors and the population in the area.)
It is important that all the neighbors in the area know us as a serious and potential buyer for the apartment.
That way as soon as they hear someone is selling they will pick up our phone or maybe even they will suddenly want to sell and we will be first in line!
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