rj palano, smart strategies in real estate!!
TRANSCRIPT
“They key to buying direct from owners is to only buy from motivated sellers. If they’re not motivated, you’re wasting your time.” RJ Palano
How long would it take you to recognize a good purchase opportunity?
How long would it take for you to make a decision to take action?
In the business of flipping houses, you must size up a transaction quickly and get the property under contract before someone else does.
! !
The real estate market is local in nature and in my position, we take what the market gives us.
Over the last six years we’ve operated only in the Atlanta area. Initially, we acquired homes in REO
packages, and then individually from banks and foreclosure auctions.
Those opportunities are 10% of what they were 6 years ago.
Atlanta Metropolitan Area
Why?? Changed my approach to the market…The supply of houses has drastically reduced, thus most of the hedge funds have packed their bags and left. That leaves me and all the other hopeful investors scrambling for the crumbs of houses in a real estate market that has heated up.
Skills…to do the best.Negotiating profitable opportunities from home owners.
Recognize an opportunity quickly and I must decide my exit plan.
Determined immediately my exit plan based on the location, age of the house, quality of the house and
neighborhood from the following exit strategies:
Never go into a negotiation to buy a house unless you know exactly what your
strategy is…
#Wholesale house to another investor in “as is” condition.When I use this strategy, I
either assign my interest in my sales contract with the owner or I close on the transaction and then I market to other
investors.
# Buy – Rehab - Retail.In this strategy, we close on the home from the seller, remodel
it and place it on the market. There have been times when I leave the title in the name of the seller I buy from so that they
sell directly to my buyer. This could be important to avoid seasoning requirements with my sale to and “end user”
(homeowner). I can protect myself with a recorded option to purchase from the seller I buy from, or I can record a security
deed to protect my option.
# Buy – Rehab – Sell to Investor and We ManageIf the property is a quality house in a quality
neighborhood, we might sell to one of our current investors at a profit and place into
management.
These types of transactions can become the norm in a hot market like Hotlanta!
The key is to get the leads, understand the model, and take action!
RJ [email protected] Us