5 Steps to Buying Your Next Real Estate Deal | Real Estate Investing [E-103]

5 Steps to Buying Your Next Real Estate Deal | Real Estate Investing [E-103]

five steps to buy your next deal on this episode of title Tuesday’s everybody welcome back to another episode of title Tuesdays my name’s Kevin tatcha the founder and CEO here at Independence title also known as your title King today we have a very special guest doron is one of our great clients he closes many deals with us whether it’s host selling deals retailing deals buy fix and flips he is involved in the game and I invited him here today to teach you some of the new investors maybe you’re a real-estate agent out there how to get more deals get into your first deals so thanks for joining us on today’s so thank you alright so we have five steps we’re going to be brief with them because we don’t want to make it too long but we want to give them enough information and as always we’re gonna put Deron’s information below so feel free to reach out to him he mentors many people to get them where they need to be to buy their next deal so let’s start with step number one alright so like you know the rustic market is very hot it’s hard to find properties on the MLS so my focus is to find properties off the MLS step number one is finally stress on it and going through a life crisis like a probate like a distress toxic tax liens or he has a an eviction going on so you find that person that’s the step number one that’s a great step to because I know dealing seeing a lot of closings here we close about 100 deals a month and I always see the best deals are these probate deals I don’t know you’ve done a few the investors that learn how to truly find and acquire these probate deals are making tons of money so that’s a great first step right right so the first step is that the second step is to look on the comps I know a lot of investors doesn’t know what’s comps they don’t look they just put their properties out there but the first thing is you have to know what’s what the house is worth how much you can sell it how much you can make on it so that the second thing to find the comps and to know what you’re dealing with and that’s a good one too especially if you’re a real estate agent out there you have access to the MLS we know if you’re a consumer do not rely on Zillow do not rely on Zillow for an accurate value you need to pull your comps and you need to make sure you’re picking I guess within a subdivision right to make sure you can see because something that may be a block over could be in a totally different subdivision and you can actually reference we have an appraiser on at one of our first episodes where she talked about how to select comparables so it’s very important to learn how to find the deal and now you need to learn how to comp it out to make sure you’re getting a good offer price right and another thing is you’ll see a house is very expensive and you’ll see a house this is very cheap you don’t want to take these two you take what’s in the middle right great step so number three all right so the number three and it’s very important is do your due diligence you know what’s the house is going know what’s the owner is one you got to know if is if it has some filing in the court if he has been going through foreclosure if he has some judgment against him all kinds of things so you do your due diligence before you talk to the owner that’s the that’s the third step and due diligence a lot of times we’ve done some other videos where you can go to the public record site remember we’re in the state of Florida everything is public record the court system the property records everything’s public records so you can go and do your own due diligence and just make sure I don’t run their name search and say I don’t see anything I don’t see foreclosures I don’t maybe you’ll see a probate maybe you’ll see a death certificate there are a lot of things that you can tell by just doing a little bit of a preliminary search which is how Derron is doing so many deals because he knows how to find it step one he knows how to combat out step two and he knows how to do the due diligence to make sure he’s getting a good deal which is step three and it’s also a good way to negotiate if you know what’s the owners going through you can negotiate a better deal because you have the knowledge to to get a better deal and it’s finding a distressed seller and putting them with an eager buyer and you make the profit so step number four step number four is get it under contract that’s the best thing you got and you need to know how to put a contract in place so you have to learn how to put a contract and how to present it to the owner and make sure he signs it when you fit when you meet it and one of the things I like to talk about when we talk about contracts we’ve done a video with an overlay of the contract how to fill it out one of the mistakes I see a lot of investors make is they come and they say well I have this deal no my card do you have it under contract well no not yet right gone you lost the deal to the next investor that stepped in because if it’s a good deal you need to get it under contract and then worry about assigning it double closing and one of the tips I want to tell you because we’re having more and more investors doing this they’re forgetting or totally disregarding putting up a deposit you need to make sure you put a deposit up in the state of Florida if you do not put a deposit up on that contract it is not valid I don’t care if you put ten dollars in escrow or you put ten percent in escrow you need to put something in escrow in order to open up that file and make it a valid contract right so that’s tip number four make sure you’re getting that deal signed I’m the contractor and the five the fifth step is find a buyer and close the deal that is the best part you give it to Kevin he’s gonna close the deal for you hey they’re doing an amazing job of that I’ve had a lot of deals that almost fell through because of other title companies I brought them to Kevin and it was close and I was happy so find a buyer and close the deal that’s the fish and that’s good and that’s usually the hardest I think I think that’s the hardest you know you go a lot of these these fix and flip meetings and stuff and and they teach you how to find the deals but they may not you had to get the buyers and it’s very important very hard to do both which is why we produce this video because now you’re able to partner up with someone like Darren call his office he can help teach you how to find deals and maybe he’ll have the buyer maybe he could teach you how to find a deal he’ll buy it himself fix it in flipping through that – so it’s very very important or maybe you have a buyer and you say hey Doron I have a buyer that’s looking for this type of house and he may have that buyer ready to go so it’s very very important so to recap step number one is how to find deals how to find a deal how to find the owner that needs to sell right now step number two is do the cops make sure you know how much the house is worth step 3 do your due diligence it’s and very important to do your due diligence step number four is my favorite that’s where we talked about that contract making sure it’s fully executed deposits up an escrow all pages are initialed and send it over to the title company to open up a title water and step number five sell the do sell the deal and what make the money right all about making money in this business so I truly appreciate you stopping by thank you very much I hope you learned something new if you’re watching this video share it on social media don’t forget to subscribe below share this on Facebook share it on LinkedIn let others know that it is possible to make a lot of money in this business so thanks for coming by Durant’s informations below I’m gonna put it in the comment section feel free to email them don’t bombard him with phone calls but do me a favor shoot him an email say hey I saw this episode of title Tuesday’s i’d love to come in and learn what you do so he can teach you and he’s not gonna do it for free but he’s definitely gonna be able to teach you what you need to know cuz this is the real deal investor he’s buying he’s hoe sailing he’s fixing flipping he’s doing many many deals on all facets of real estate investing so thanks for watching this episode of title Tuesday’s my name is kevin tatra the founder and CEO signing off and we look forward to seeing you at the closing table you

2 thoughts on “5 Steps to Buying Your Next Real Estate Deal | Real Estate Investing [E-103]

  1. Hi Doron & Kevin. I did an easy condo deal with Doron in West Palm Beach and the deal closed smoothly with Independence Title. He for sure is a Real Investor! Keep going!

  2. I was always taught to find the buyer while the title company is running the title search but you're saying to find the buyer FIRST and then send both contracts to the title company? (I'm so confused…lol)

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