Many real estate investors think that a good deal means buying with equity built-in, meaning you have to buy a deal that is worth more than you are paying. But real long-term success in real estate proves that you make equity over time – you don’t have to buy with it baked in.
In fact, let’s revamp the concept of what a good deal is, and let’s consider what a purchase-worthy property might be. Now, this may not fit your traditional real estate education, but in our long career, we’ve found that purchase-worthy properties make way more sense than a “good deal”.
“It’s the factors beyond the numbers that will dictate whether or not something is a purchase-worthy property.” – Kevin Clayson
In this episode, we break down five criteria by which we determine whether we have a purchase-worthy property on our hands or not. Tune in to find out more!
Key Takeaways
- What people traditionally think is a good deal (01:28)
- The first criteria is always the market value (07:13)
- Your decision needs to be based on the market environment (11:15)
- Something a lot of people don’t consider before buying (14:25)
- Don’t get carried away with the numbers (18:12)
- Why is a positive cash flow so important to look for (23:10)
- Predictability and consistency as cornerstones of success (28:44)
Top Quotes
“It’s the factors beyond the numbers that will dictate whether or not something is a purchase-worthy property.” – Kevin Clayson
“Maybe it’s time to revamp your concept of what a good deal is.” – Kevin Clayson
“When you talk about the concept of how does it look on paper versus how will a property actually perform, those are two very, very different things.” – Steve Earl
Additional Resources
- Learn more about Done For You Real Estate: VISIT HERE
- Get a FREE Income Replacement Estimate (IRE): APPLY HERE
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