As a real estate investor, your eyes have to be keen for the sweetest deals on the market. Having a keen set of eyes for this kind of deals can be considered a skill and like all skills, this can be trained. Finding the best real estate trainor is not that hard once you know what you are looking for, like most trainers, a certain level of skill is not just admired but also required for you to be able to learn. Although you can learn from everyone, both from their failures and success, looking for someone who has already experienced way more than you have is something you should be looking for.
Here are a few traits you can look for in the best real estate trainor:
- Keen eye on deals
Having a keen eye on deals as discussed earlier is something you would want to watch out for. Learn from your mentor’s criteria on how to determine if a certain deal is a good deal or a bad one. Although some trainers may not have specific criteria on how to determine if a deal is good or bad, they surely have a certain angle on how to see things.
- Thorough not emotional
As a beginner, thrill becomes everything. Sometimes we get too excited about things that end up making the beginner’s decisions heavily influenced by emotion. Although a gut feeling is important, it is not everything. Being thorough is just fair. If you are not able to become thorough, you might miss some details that may cost you a lot later on.
Ah, yes! Persuasion is always needed for sweet deals. Sometimes deals do not become attractive at first but with the right negotiation techniques, you might even be able to turn a bitter deal into one so sweet you would not believe it was actually possible.
Now, let us look at how the best real estate trainor looks at retail homes.
Retail homes are basically property in top condition and most likely liveable right away. But take away all the decor and focus on the necessary conditions of that property and you will find out that a buying a retail home is not that hard.
One of the most important things to do is examine the wirings. Is the electricity working on all outlets? Is the wiring deteriorating or still in good condition. You can always have a technician help you check out the wiring.
Plumbing can be very important since most rot and decay happen because of bad plumbing. Examine the pipes for any types of leaks or cracks.
- Paint and condition
Good plumbing usually means that the condition of the house is good as well. Here’s a tip, check out the material on certain parts of the house. Cement does not have that much problems but wood and metal need to be examined for rust or rot. Sometimes, paint is used to cover small defects, be very thorough and find out the hidden defects should there be any.
- Furniture is optional
Furniture is a plus point but sometimes retail homes tend to charge more because of all the furniture which some of them are not even needed. Sometimes optional, should you feel like the value of the furniture is not worth the additional cost, you may choose not to purchase.
A real estate investor has to be able to have the eye out for good deals. Learn more about real estate by reading our other articles.