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Effective Tips About Finding Good Deals

Aug 20, 2008
I just want to compare two of my great friends; both of them are working in the real estate market. I don't want to name them here, so I will call them as X and Y. X has invested huge amount of money in the market, he invests in all the offers coming in his way. He never bothers about the pros and cons of the deals. He negotiates with the seller and reaches a deal as fast as possible and does the business. Very simple really!

Mr. Y is a different mould. He assesses all sides of the deal and enters only with those deals which will assure him great profit and easy transaction. He sees that he is interesting about to sell it of within a short span of time getting good returns.

Do you know what the end result is?

Mr. X is now struggling with his accumulated investments in the properties; he is unable to sell off many properties. On the other hand Mr. Y has a great time, his investments are flourishing and he earns good quick income.

What is the moral of the above real example?

The prospects of real estate investment purely depend on the proper purchase options which can assure you good returns. It's interesting about finding out best deals. You should able to find out deals which have potential for profit making.

What are the sources for you to get good deals?

First source is the real estate wanted ads in newspapers. In this mode, you can avoid the real estate agent/ broker and make a deal directly with the seller. Since the seller is avoiding the commission, he will offer you a part of it and hence you will stand to gain. You can try out a "Property Wanted" advertisement in the local newspaper.

A second option is Internet online search. You can locate thousands of real estate investment opportunities in the online websites. This is a very easy process. Some of the sites offer video clippings of the property for sale, so that you can have a clear picture about the property before proceeding.

Multi listing services (MLS) is a great option awaiting you to get into real estate investments. Make sure that you receive the list as soon as it is published, otherwise the good deals would have already opted by real estate brokers. In this situation, if you can search old listings, you can get hold of a deal which is waiting for a buyer. You may stand to gain in this deal.

Another opportunity lies with foreclosures and short sales offered by banks and other financial institutions. Public auctions and dispute settlements can also provide you good deals, if you are little careful and have patience.

The last but not least is the real estate brokers. This is a time tested, reliable and the best option. You have to associate with a perfect broker. Real estate brokers are really the best source of all kinds of information on real estate business. They knew the in and out of the market. The experience they have is really interesting about price worthy.

Success will not come without any efforts. You should devote your time and efforts to get good deals. Success of real estate business is all about finding good deals.
About the Author
Prue and her 1-of-a-kind site at http://www.realestatebloom.com (where else?)helps you to make money renting in ways you've never known. Discover how to be a millionaire making money renting within days, even in a down market!
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