Which Real Estate deals would you prefer to have?
Where it isn’t wrong to pursue these types of Real Estate deals, and it may be easy to find the types of properties you are looking for, the problem with these resources is they are accessible to everyone else. The prices will be higher, the closing time may be longer, and you may get into a multiple offer situation that you just don’t have the time to deal with.
So the only real way to succeed is you almost have to get lucky. You have to be the first one to the deal, kind of at the right place at the right time. Definitely not a good foundation for a solid, long term business. Do you really want to be making offers and looking at houses that everyone else is looking at? No, I didn’t think so.
The other way, the private way, is how you should be getting your Real Estate deals. Meaning before any Real Estate deals become public it always starts out as private. Meaning only the seller, or just a few others know it is about to hit the market. Plus, why would you want to put money into the pocket of a Realtor when the “commission” could be going to you? Check out this post about where you can look for some private listings.
The key is to position yourself in the private world in your city of interest. This doesn’t mean all those Real Estate deals are going to be good deals, but at least you have the first look at them. And then you can cherry pick the best ones for yourself.