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5 Steps to Buying Your Next Real Estate Deal | Real Estate Investing [E-103] - Duration: 8:37.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
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