How To Earn Money in Real Estate Without Working
Today’s podcast is a follow-up to our last episode where we shared the most profitable thing you should do in real estate. We’re sharing how to earn money in real estate without working. This episode is all about ways to build alternative sources of income by acquiring houses.
We introduced the Certified Opportunity Procurement Process, which is helping you identify properties that can have a positive cash flow and would be good as a rental property. We’re looking at properties that are going to be at least 20% below the highest comp in the neighborhood.
What Matters When Looking at Investment Properties
- In the Certified Opportunity Procurement Process, do days on the market matter? The short answer is no, as they do lead to opportunities. On the other hand, days on the market do matter as it helps to identify motivated sellers.
- Do price reductions matter? There’s an unwritten rule that a seller won’t accept anything more than 10-15% from the asking price. It is something we’re using as a tool to help identify people who are motivated.
- Do you like to target the highest price per square foot rental price areas? It’s not that easy. You miss too many opportunities that may not be in the highest rental price markets.
- As properties go through the Certified Opportunity Procurement Process, how much do you consider the down payment? This is highly considered as it affects your overall cash flow.
- Pool or no pool? You typically get a higher return on a home with a pool, but there are other factors to consider such as the condition and size of the pool and is the pool gated.
If you came here to learn how to earn money in real estate without working, find passive income rental properties. Let us help you qualify them to make sure they match what you’re trying to build in your portfolio.
These last two episodes likely triggered some questions so we’ve arranged a special Q&A via Zoom on Monday, August 8th at 1 pm PST. We invite you to join us and share this with anyone else you think might be interested.
🎦 Register for the meeting via Zoom 👉 https://us02web.zoom.us/meeting/register/tZYvdeuhqD8tEtGqdKdyhNDKNhJnKYpKEB-W
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