With all the people looking to invest using real estate, its getting harder and harder to find deep discounted homes. Companies like Blackstone and Warren Buffet are now adding 1000's of foreclosure homes directly from the banks shrinking the amount of good deals hitting the market. And now there's all these companies paying wholesaling fees for finding them good buys. Robert Kiyosaki (Rich Dad Poor Dad)states it best, that out of 100 homes on the market, only 1 or 2 might be a great buy. Holly Springs on average has between 300-400 homes on the market. So how do you find them and get access to them?
In our office we tour homes everyday searching for these deals, half of our day is used for researching, knowing which homes are the good ones. Thats why I put in the header above there is no such thing as a computerized list of discounted homes. Some of the best buys on the market come from other sources like vacant, estate sales, builders, distressed sales and highly motivated sellers. By working exclusively in an area it's alot easier knowing whats going on in the local market. Most beginning investors do not realize the market dictates the strategy. If you plan on using real estate to invest, make sure you check out our investing page where we help guide you on the education you will need to get started.
If your looking at discounted home for a personal residence I commend you. Most of the people pay top price, buying emotionally, without doing any research. It doesn't matter if you get a discount, if you buy at the wrong time. In 2007 there was alot of good people doing the right thing at the wrong time. We cover more of this on our buyers page where we go over buying the right home, at the right price, at the right time. Make sure to check out the area market report page where we provide a monthly report for Holly Springs.
Please take the time to educate yourself. I provided a lot of great resources making sure you get started on the right path, please take the materials I added and be investigative. When it comes to investing it can cost you alot when it comes to making mistakes. So start small and Dream Big knowing that even 1 or 2 investment deals can add huge benefits.