Phase 2: Find
Today we discuss Phase 2 of the the 4 Phases of Investing in Real Estate. The Strait Path™ system dictates that investors purchase only single family homes with three bedrooms or more and with at least 15 percent equity. Finding these deals is a function of four keys: 1) knowing where to look, 2) knowing how to look, 3) knowing what properties to look for, and 4) speed.
Look in the Right Place
Other real estate systems teach you to look where every other investor is looking: auctions, short sales, foreclosures, fixer-uppers, etc. Since the competition is stiff in these arenas, it’s extremely difficult to succeed. In contrast, we find properties on the largest listed property database. When used properly, it saves tons of time and effort in the finding process.
Look in the Right Way
Our system uses strategies for combing through piles of data to extract only the best deals. What’s more, you don’t even have to look yourself when you use realtors to find properties for you. When done the right way, 95 percent of the finding work is done by other people.
Look for the Right Properties
We’re very strict about our criteria for purchasing homes. Since we only buy the most wanted real estate (entry level up to the median), we’re far less affected by market swings and we always have a market for our homes no matter how bad the market is. Also, we only buy homes in livable condition; we don’t waste our time and energy on fixer-uppers.
The Power of Speed
Our system allows you to find the best deals before anyone else. These deals are, quite literally, here today and gone tomorrow, which means that we must be prepared to act on them immediately. We’re usually one or two days ahead of the competition on the properties we find, which is a rarity in the highly competitive market of short sales and foreclosures.
Negotiating is also a critical aspect of speed. Traditional negotiations take days, and sometimes weeks. Our system eliminates the common back and forth and seals the deal the same day, before other offers can come in.
