Investment Strategy’s; why we must have them

By: Jeff Tumbarello

 We live and work in one of the most growing and competitive real estate markets in the country. To succeed in this market it reminds me of the quote from the civil war, “You have to get there the fastest with the mostest”. Deals are still to be had in this market but, you need to do your homework to find them.

Find a style of investing that suits you and your talents. Then figure out what can you do to have an edge. A foreclosure investor needs a service to provide the data.  Then you have to get prospects to contact you.  You also need way to check property values and also insure you have a clean title. You have to know how you are going to take title which affects your offer. Last but not least, what will I do with this house when I get it?

To have these tools in place you have to decide foreclosures are how I make my money.  I am not saying put blinders on. Recently Peter and I bought a defaulted note in an attempt to get a house off Magregor Blvd. The guy paid us off but, we made some money for owning the note for 2 weeks. Had we gotten the house at the steps there was a clean $80,000.00 in the deal. Neither Peter nor I speculate in notes but, this deal was a home run if it worked. My current interest is subject-to deals. I found this deal looking for one of those.

There are so many ways to make money in this game. Tax Liens, Subject-To, Buying at the Steps, Bank REO’s, Buy and Hold, Pre-Construction and Raw land to name a few. To make money you need to pick a few and learn your trade. You will not see many plumbers who also do graphic design and wedding planning. After you learn your chosen niche, obtain the tools you will need to succeed. By applying yourself to a few facets of this business, you will learn the tricks to make money. Make your New Years Resolution to define your investment vehicle. This will be the first step in succeeding.