If you're new to real estate investing, you might find it a little confusing. However, by following the simple steps, you can put yourself in the best position possible to make incredible profits, just as seasoned professionals do.
Step 1 – Location of the property
Locating a property on which to bid is not as difficult as you thought. You can even create a network, over time, through which people will contact you about their tokenized property. However, in the meantime, think of the groups of people who would probably be looking out of their homes.
These include: pre-foreclosure persons, foreclosed persons, those who have recently divorced and those who have bought a new home and have not yet sold their old one. You can buy lists, consult your county's registrar's office, and even browse local newspapers for potential properties.
Step 2 – Pre-select your sellers
One of the most important steps in this process is to pre-filter your sellers. By doing this you can save yourself a lot of unnecessary grief. You have to make sure from the start that you can get a good deal with the seller. In addition, you must also make sure that the operation works well for you at the same time.
Step 3 – Make good offers
Once you have shortlisted your sellers and want to make an offer, make sure that this offer is good and reasonable for everyone involved. Do not insult your potential seller with a horribly low offer; you will simply disable them to work with you. In the same vein, make sure that reaching an agreement with them will bring you money. You are in business to make money, not to be a free service for anyone.