Though I rarely buy single family homes anymore, for a time, it was all I did. Here are couple things that I learned
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#1 SF Investing Tip- Set up a “buying farm” Robert Allen explains this well here. Easier to know everything about 1 area than chasing deals all over your city.
#2 SF Investing Tip- Drive Buying Farm once a week.
Look for sign of vacancy
- Tall Grass
- deferred maintenance
- no cars in driveway ( week to week)
-get to know neighbors
- look for any change of occupancy in the buying farm
#3 SF Investing Tip - Learn how to use your county online tax records to find owners and property details once you have identified an opportunity from #2
This is still a skill and tool I use TODAY, Its value can not be overstated
#4 SF Investing Tip - Once you get your first deal, screw bandit signs now you can put that front yard yo work and use REAL signage to generate more leads.
I was able to buy & sell 9 homes in my “Sans Souci Buying Farm” in 2.5yrs. Signs generated 3 deals.
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I was first exposed to @moseskagan a year ago via YouTube, he was interviewing @Keith_Wasserman. Sure, big ASS names but the conversation was different. It was thoughtful. Every inch @REconveneLA was just that.
What most of us don’t talk about is how painful underwriting deal after deal is, particularly when you have the capital and operating ability while still bringing good energy to each new opportunity.