Quick Start Guide to Real Estate Investing the S.C.R.E.A.M. Way: How to operate in a market saturated with other investors (S.C.R.E.A.M. Real Estate Investing Book 3)
Description
S.C.R.E.A.M. real estate books are all about how to find houses that other investors don't want, that you can get for a song, fix up cheaply, and rent out quickly.
Most new real estate investors chase after the same deals as all the other investors. For me, that was a recipe for failure. I tried for years to compete for the suburban 5-year old homes on the cul-de-sac. The prblem was, so was everyone else!
In business, you have to find a niche to be successful. In an over saturated sellers market you need to target houses in areas that everyone else stays away from.
Older houses in lower priced neighborhoods can often times be gotten very cheaply because other investors are too scared of the neighborhoods they are in; but just because you wouldn't want to live there doesn't mean it's not a good place to do business.
Over the past 10-years I've poked holes in the idea that being a landlord is too hard, that you have to spend tons of time chasing down rent payments, and that houses in cheaper neighborhoods are not good investments because they need too much in repairs.
To make the business work, offer a high quality product (a nice house), at an affordable price (market rent), and use systems to make sure that the rent is collected each month.
In this book you will learn--
- How to identify the target neighborhoods where the profitable houses are
- The six questions to ask sellers to quickly find out if their property would be a good investment
- The nuclear option for dealing with sellers who ask an unreasonable price, so that they will come back to you in a week after they have seen the light
- How to figure out how much to offer for a house in about 1-minute
- What to do when the house is in much worse condition than the seller told you on the phone (hint - they always are)
- How to estimate repair and rehab costs in a 10-minute walk-through
- The 19 steps to close a deal to buy a house "subject-to" (using the seller's existing financing)
- The 17 steps to quickly find a good tenant
Most new real estate investors chase after the same deals as all the other investors. For me, that was a recipe for failure. I tried for years to compete for the suburban 5-year old homes on the cul-de-sac. The prblem was, so was everyone else!
In business, you have to find a niche to be successful. In an over saturated sellers market you need to target houses in areas that everyone else stays away from.
Older houses in lower priced neighborhoods can often times be gotten very cheaply because other investors are too scared of the neighborhoods they are in; but just because you wouldn't want to live there doesn't mean it's not a good place to do business.
Over the past 10-years I've poked holes in the idea that being a landlord is too hard, that you have to spend tons of time chasing down rent payments, and that houses in cheaper neighborhoods are not good investments because they need too much in repairs.
To make the business work, offer a high quality product (a nice house), at an affordable price (market rent), and use systems to make sure that the rent is collected each month.
In this book you will learn--
- How to identify the target neighborhoods where the profitable houses are
- The six questions to ask sellers to quickly find out if their property would be a good investment
- The nuclear option for dealing with sellers who ask an unreasonable price, so that they will come back to you in a week after they have seen the light
- How to figure out how much to offer for a house in about 1-minute
- What to do when the house is in much worse condition than the seller told you on the phone (hint - they always are)
- How to estimate repair and rehab costs in a 10-minute walk-through
- The 19 steps to close a deal to buy a house "subject-to" (using the seller's existing financing)
- The 17 steps to quickly find a good tenant
More Books by David Hochhaus
