Investing in real estate is a competitive arena. You’re negotiating for the best deal. You’re moving fast to scoop up the most profitable opportunity.
How do you get through the door first? How do you beat out other property investors for the real estate deal of a lifetime?
Beating the Competition in Real Estate Investing
Have a plan in place that allows you to move fast. A business plan and strategy for property investing allows you to see the big picture and focus on your goals. Real estate investing can be complicated and demanding. A solid plan allows you to stay organized, act fast when a deal arises and keep on track to meet your goals.
How to Be First in Property Investing
- Be pre-approved with a hard money lender. A hard money loan is designed to be fast, easy, with no speed bumps so you don’t lose out on an investment opportunity. It’s the perfect fit for investors who are ready to move, have a plan of action and want to see their investments putting cash back in their pocket quickly.
- Get on as many wholesale lists as possible. Sign up via email and attend networking events. The more opportunities you have, the faster you can accelerate profit-making in property investing. To get on the Catalyst Wholesale List, sign up here. Available properties will be delivered right to your email.
- Be flexible with your schedule. If you see a good opportunity, check it out ASAP. Good deals don’t last long.
- Have a cashier’s check ready to go for wholesalers. Have money available as soon as you decide this is an investment you want to make. Leaving an investment opportunity sit for a day, or even hours, can be enough time for another property investor to swipe the opportunity from under you.
- Be able to quickly estimate home rehab costs and value. The most successful investors can quickly -- and accurately -- estimate house flipping costs. They know what they need to do to make a house competitive with comps in their market.
- Build a network. This should include mentors, lenders, contractors, wholesalers and other professionals in the real estate industry. Savvy property investors understand the importance of having a network.
How to Build the Right Connections in Real Estate
The process of real estate investing is complex and ever-changing. It doesn’t matter if you’ve been doing it for 20 years, or if you’re just getting started.
One of the most important factors to moving fast in real estate investing is finding a lender you can trust and who acts fast so you have the funds when you need them.
Many property investors use hard money loans as they are designed for quick transactions. Hard money lenders are more interested in the investment aspect, and therefore, need not go through your loan application and financial history with a fine-toothed comb. Once you have a relationship with a lender, the process can move very quickly and smoothly, giving you an edge on closing deals fast.
Find a hard money lender who is also an investor and has connections within the real estate market. A lender who provides more than financing can connect you to wholesale opportunities and contractors and provide you guidance and tips on future real estate opportunities.
Catalyst Funding is a hard money lender who can help build your real estate investment opportunities. With a background in fix and flip projects and other property investments, we can provide resources and guidance to help you through the entire process. We strive to be more than a lender! For more information, contact Catalyst Funding online or call us at (832) 648-3626.