Listen Marco Kozlowski's podcast here:
Real estate investing can be
daunting for a beginning. Becoming successful in this industry is a
step by steps process and is not by any means quick and easy. But,
there are tricks to make life easier, sometimes it gets too
easy.
WHAT YOU’LL LEARN FROM THIS EPISODE
- The first thing you need to do
when you try to get into real estate is to pick the asset
class - It is recommended to not start with hotels as it is difficult
to manage and execute. - Start with Craigslist and start with a project under 5
years - When searching for properties, try to start looking for it from
the last page as craigslist consists of 45 days memory. The sellers
on the last pages are relatively more negotiable and less
reluctant. - When questioning never starts with ‘is this property still
available’ as it implies that the buyer is weak instead ask
‘is this still up for sale’ – it gives a much stronger
influence. - Whenever you have a choice between buying through Owner or
Broker always go for ‘by owner’ as it is much easier to negotiate
with the owner themselves. -
Always ask these before purchasing
-
1. Are there any
repairs? -
If there are repairs, how much does it cost?
-
Always ask for Address and Zip code (use it to compare its worth
on other sites) -
Are there any tenants?
-
If there are any tenants what is their gross income?
-
Who is responsible for utility expenses, tenants or the
owner? -
Inquire why are they selling it, make sure there aren’t any
legal issues
-
-
Divide the questions into series
and don’t ask all the questions at once as this may discourage or
confuse the seller -
Don’t judge the property from
the pictures
RESOURCES FROM THIS EPISODE
Click
here for the free quick start course “Get
Deals By Tuesday” Masterclass.
CONNECT WITH US
- Email: marco@marcokozlowski.com
- Website: https://marcokozlowski.com
- Facebook: https://www.facebook.com/realmarcokozlowski/
- Instagram: https://www.instagram.com/marco.kozlowski/
