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Updated about 4 years ago,
Finding Deals Isnt Hard
I just returned to real estate recently, and I am just a small investor, but I keep seeing posts where people can't find deals. That is not my experience at all. I find plenty of deals on the MLS that cash flow positive, in a up and coming area without any or minimal work needed on the building.
In fact, I am in escrow on a newer SFR in the desirable North Austin area that will cash flows $600 dollars a month positive (talked with PM to verify rents) cash flow. I am definitely not a pro, but I do take the time to grind through the MLS in several parts of the country and created a speadsheet that can quickly calculate the numbers I need to decide. I also have a very clear target property I am looking for and Realtors who are on the hunt for me.
Unfortunately, those houses will have usually have a lot of competition, but i won the bid war before and so can someone else. There are so many deals my spouse prohibits me from looking at the MLS till my current escrow closes. The key is to go through the MLS and learn the area, so one will know a deal when it come up. If 15 people are bidding for it, then you know your instincts are probably right.
Neil
In fact, I am in escrow on a newer SFR in the desirable North Austin area that will cash flows $600 dollars a month positive (talked with PM to verify rents) cash flow. I am definitely not a pro, but I do take the time to grind through the MLS in several parts of the country and created a speadsheet that can quickly calculate the numbers I need to decide. I also have a very clear target property I am looking for and Realtors who are on the hunt for me.
Unfortunately, those houses will have usually have a lot of competition, but i won the bid war before and so can someone else. There are so many deals my spouse prohibits me from looking at the MLS till my current escrow closes. The key is to go through the MLS and learn the area, so one will know a deal when it come up. If 15 people are bidding for it, then you know your instincts are probably right.
Neil