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The Top 3 “New” Real Estate Strategies
Real Estate Strategies are essential building blocks of any real estate investing business. However real estate investing is one of the most dynamic and ever changing enterprises: as an investor, you have to know where to concentrate your efforts in order to beat the competition, gain the edge and profit. It is what I define “Maximum output for minimum effort.” By knowing which strategies you should devote most of your effort and time to, you can make the most money with the least amount of time and energy.
Nothing is more motivational than the first proceeds check!
Real Estate Strategies:
One of the questions I have been asked often is, “If I had only a few hours a week to devote to starting a real estate business, where would I concentrate my efforts?”
Understanding where the real estate industry is heading to and where the most successful investors are spending their time with, I have summarized the most important real estate strategies for 2014 in these 3 niches:
- Vacant/Abandoned Properties – in the last few years, with so many foreclosures, displaced owners, owners that kept the property waiting for a housing recovery, but had to move (may be they owed very little to nothing on their mortgage, therefore they could afford to keep an extra property,) there is a surplus of vacant and abandoned homes. The best way to locate these properties is “Driving for Dollars.” However it is amazing what $20 of gas expense and a couple of hours can provide to you in return – a list of properties with very motivated sellers. And what do you do with these properties? Wholesale them or keep them for rental passive income.
- Tax Delinquent Property – do you realize that the list of tax delinquent property is 20 times larger than foreclosure? Also over 50% of these properties are free and clear? The best way to buy these properties is with $1 options before the auction and/or redemption period. Check out my Webinar for more information on this unknown strategy. Very little to no competition in finding properties using this system.
- Commercial Real Estate – there are great opportunities in commercial real estate investing in today’s market. Many investors do not realize the potential of this type of investment and that it is easier to get into it for long term passive income, than residential. First of all, it offers leverage: expenses are paid by the tenant while you build equity and passive income. Also lenders will allow seller’s contributions and carry-back (while that is not allowed in residential real estate any longer) and many private lenders and joint venture partners are interested in funding commercial property over residential.
Whatever strategy you decide to concentrate your efforts on, my experience shows that you need to keep 3 points in mind:
- Focus (one strategy at a time)
- Delegate (have other people do routine tasks, while you dedicate your time to more important activities, like looking for properties and qualifying prospects)
- Automate (there are so many tools out there to help you in lead generation, automating tasks, so you can maximize your output, while minimizing your work load)
If you would like to learn more about new trends and real estate strategies which will give you the edge as a real estate investor, don’t miss the online training called New Year, New Career in Real Estate.
