My mother-in-law was the best house buyers, that I ever saw. She wrote was houses buy. Little I know they would teach me that basic real estate investment strategies would last a lifetime. Every Saturday for about 40 weeks of the year would be for sale by owner (FSBO) open it houses in two or three nearby neighborhoods. She began this way, when she first married and continue long after her husband, retired air force from the military. So, when they moved to Uncle Sam every 17 to 30 months, they would start a new portfolio of houses. Even before she completely unpacked were, they would on Saturday from his view of the neighborhoods. She knew the neighborhoods better than any broker, you ever hit.

These were medium-sized families district, she already had one of those in the field, so they do not rust jacked up cars in the front yard of the Castle or other similar eyesores. Even if my father-in-law retired and they lived in Orlando, it was always, or almost every Saturday. At this point, I was it questions their FSBO Drive-Bys, so she said: “Why you simply with me not go a look so that you have and see what I can do?” The next morning she picked me up about eight in the morning, and we went out. She had circled their newspaper with all FSBOs and she knew where everybody was. We went to the first House about nine o’clock. She discovered the girl, which showed the House and asked her, “What do you to this House”

Key point – this question can be used to determine whether the property is not more than 10% of market value for this neighborhood, and for this particular model realistic – price.

Sales for the small, two or three subdivisions, which were their farm area were released, as you read religiously. So, if she how much asked, knew the answer already. If you it, wouldn’t it without a sound turn around and go quickly out of the House.

This was the first House that we visited. If the woman is not correctly answered, I was busy looking around, before I realized that it it no longer. It was in the car, before I have even from the front door.

When we asked their first question to the next place and they, I the movement out of the corner saw my eye. This time, I was right behind her. It seemed strange, but it not thank someone or issues, if they take less, would only turned around and left.

When we arrived in the third House, greeted the owner, Mrs. Moore, us. As my mother-in-law asked the now infamous question, $71,000 Mrs. Moore said that was the right answer. It was almost exactly the price, who was on the model for this neighborhood House, we knew that it was the property was not overpricing. They could say that she wanted to sell it quickly.

My mother-in-law does not leave the House, which was a good sign, but they were to breathe her a few seconds before she finally asked, “if I $71,000 paid, how much I would have to pay, so that I could just take over your payments to your mortgage?”

Key point – this next question, you can discover what is equity in the property. This is a more basic real estate strategy of investment, because you want to hear that there are lot of equity, because the seller, you have some “monopoly money”. At least 40% of the shares in the property is preferable. In fact it would be great, if nothing to the property were owed because wouldn’t problems to contend with loans.

So, the correct answer Mrs Moore had both times. She said that she was still 15,000 US dollars on the building opposite and they buy one of the first people in the subdivision. My mother-in-law was actually smiling.

This basic real estate investment strategies learn help you to decide whether a property is a good deal. Stay tuned for part two of this story in a future article.

1989 Stew Spence has been a full time real estate investor, and bought, sold, or, large or small the business end r.e. transactions, hundreds numerous different types of a total of $40,000,000 including commercial transactions, mobile home park, multi-family, condominium conversions and land development projects with a specialization in the excluded properties need rehabilitative construction. Now semi-retired, stew is still an active investor and thousands with real estate has successfully trained. Today it is maintained as a member of the Board of advisors with his real estate network, residential and commercial real estate buying group.

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