Whether it is stocks, or precious metals, or real estate, the aim for investors is the same- getting the best deal! The purpose of this article is not to point out the advantages of investing in real estate. If you are reading this article, we are sure you have already covered that piece of literature.
Investing in real estate was, is, and will always be a magnet for investors. The strong and sure performance from the industry makes it an attractive bet to place your hard-earned money. In this article, we are going to help investors land on the best deals for their real estate investments.
Has the Pandemic affected the Real Estate Investing Industry?
Like most other areas of asset investment, real estate has also experienced a slowdown. However, real estate as an industry has emerged much stronger post every financial crash. This is true of 2001 and 2008 as well.
The pandemic has opened up very profitable opportunities for investors who were waiting for the prices to drop. Many small investors are on the lookout to cut their losses, especially as retail demand slows down. This means that investors looking towards the future can pick up prime deals and properties at a lower price point.
Economists and financial analysts suggest that government intervention and initiatives are going to jumpstart the real estate sector in many national economies. With banks and other authorities taking other initiatives, real estate is likely to get back on its feet quickly.
List of 5 Tips for Finding Incredible Real Estate Deals for Investors in 2020
1. Bank-Seized Properties
It is unfortunate that many homeowners had to let go of their properties because of the non-payment of EMIs on home loans. The pandemic resulted in millions of people being unemployed. Investors who are looking to get their hands on some affordable properties can always get in touch with banks and lending institutions who want to reduce their risks.
2. Distressed Properties
Following the first point, many people who have lost their jobs are also looking to sell their properties and start afresh in a small way. If you have the right contacts and local marketing networks, you will be able to find these people and families. While the same might sound harsh, if you get the property for a fair price, you are doing them a big favor.
3. Absentee Landowners
Many families and individuals have migrated to other cities and countries. If you are able to get in touch with some absentee landlords, you will be able to get a good deal. They have no plans of coming back and would want some easy cash to dispose of the property. You might have to do some legwork and research, but you will be able to strike profit.
4. Networking with Aligned Sectors
Successful real estate investors are great at establishing relationships with different support sectors in the industry. We are talking about lending institutions, interior designers, apartment complex security, wholesaling real estate, and so on. The more information you are able to gather, the better will be your chances of finding the right deals at the right time.
5. Explore at least a hundred deals
The key to finding the right property at the right price is looking at as many of them as possible. Most real estate investors create a funnel to filter properties according to several parameters. This helps them narrow down on their best interests in terms of the investment. You will be able to isolate the pros and cons and always take the right decision at the end.
The Final Word
Great real estate opportunities do not fall from the sky. You need to be ready to invest and put in the hard work. By following the above tips, you will be able to supplement your hard work with some smart thinking. This will improve your chances of success in the competitive world of real estate investing.
