Real estate investing has five separate categories, or money-making centers:property locators or “bird dogs”, two types of wholesaler, find and assign andcash or credit; rehabbers, and lastly, the buy and hold investor. Each of theseis important and a natural progression of each other. The novice investorshould begin as the first, a property locator and graduate through the levelsuntil you are an experienced investor savvy enough to spot the bestproperties to build a portfolio. How fast the process goes depends upon yournatural talents and ability to learn and implement the various techniques youare exposed to via learning products and seminars.LEVEL 1 PROPERTY LOCATORProperty locators in a nutshell, find and research properties for otherinvestors. It’s the best way to get accustomed to finding good deals and byunderstand the techniques and exit strategies involved you will learn what isa good deal and what is not without having to actually be the one taking therisk of investing. The property locator gathers information such as propertyaddresses, owner names, whether or not the home is currently occupied, takepictures of the properties and research the area home values and the generaldisposition of the neighborhood.You may not have immediate access to obtain comparative home prices butyou can ask a local realtor to assist you, or use some of the free onlineresources such as zillow.com and trulia.com. What houses in the areacurrently are selling for is called a comparative value or “comps”. Realtorsuse them to determine listing prices and are good resource for otherinformation that they gain access through the Multiple listing service whichkeeps track of home prices and sales. It is not necessary to obtain a realtor’slicense to invest successfully in real estate but it is a good idea to get one tohelp familiarize yourself with terms used in the industry and help youunderstand real estate contracts which is invaluable training. While doingproperty location, you will look at things about the neighborhood like howmany houses are currently for sale.
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