How to Select Your First Rental PLUS a Secret Phrase To Get More Deals!
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The video provides advice for new real estate investors on how to define their avatar, or the type of property they want to purchase. The speaker emphasizes the importance of having a good story and defining exactly what you want and why you want it. Some key factors to consider when defining your avatar include location, type of property, and price range. The speaker also advises new real estate investors to focus on purchasing rental properties within a 30-minute radius of their home and each other, as this will make maintenance easier and allow for better knowledge of the area. Once the area is defined, investors should determine the type of property they want to invest in, such as single-family homes or duplexes. The speaker advises real estate investors to consider the age of the property they want to invest in, as older homes may have issues that do not pass code. They recommend focusing on properties built in the 1950s or later, as they are usually more affordable and have newer construction. The speaker emphasizes the importance of making cosmetic upgrades to rental properties, such as installing granite countertops and vinyl plank floors, as they increase the property's value and durability. The speaker advises real estate investors to make it easy for potential sellers by offering a quick and fair offer within 24 hours of seeing the property. They emphasize the importance of being easy to work with, closing quickly, and giving a solid offer without negotiation.
The video provides advice for new real estate investors on how to define their avatar, or the type o