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3 Pro Tricks To Find Great Real Estate Investment Properties

If you want to be a successful real estate investor, you need to have a strategy and the tools to ensure you maintain the perfect portfolio of propertiesIf you want to be a successful real estate investor, you need to have a strategy and the tools to ensure you maintain the perfect portfolio of properties.

Everybody's needs are different, but there are some great ways to ensure that when you buy an investment property, it is poised to beat the market for appreciation in the years to come.

Take a look at a select group of properties below that are likely to beat the market in appreciation, then follow below for the tips on how you too can produce a list like this.

Tallahassee Real Estate Investment Properties

34 Properties
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3 Pro Tips For Finding Great Real Estate Investments

Whether you are just starting out as a real estate investor, or you are ramping up to acquire more properties, just follow these three rules and you will safely invest your hard-earned money into an income-generating real estate investment portfolio.

Make sure you establish your own real estate investing rulesKnow The Rules

Before you start looking at homes to add to your income-producing real estate portfolio, you should establish some rules that you will abide by.

For example, one investor I know wants to stick to a specific part of town so that he does not have to travel far to do "drive-bys" and visit tenants when the need arises. Another example is an investor who will only buy single-family detached homes, she has no interest in condominiums or townhouses.

The key is to establish the rules you want to follow, and then follow them! This might sound simple, but having no rules means you are susceptible to an emotional purchase because you can "get a great deal." Great deals are great, but not if you end up owning a good property that falls outside of what you want to own.

One great way to establish your rules is to work with an experienced real estate agent who has purchased investment properties and has helped many others do so as well. It is very likely that you will not spend any more money working with an expert as you would with any other real estate agent, so be smart, hire a valuable ally.

Take advantage of the data analysis tools that real estate investors have todayLet Data Drive Your Search

This is one that I rarely see investors use, and that is why most great deals go to people within the real estate industry. We use data daily, and the data makes great deals stand-out fast.

The way you do this (after establishing your rules to follow) is to set up a saved search that isolates the properties that might fit your needs. The following short video shows how to create a saved search, and you should know that you can create multiple saved searches. This way, you can really isolate each opportunity that you would like to explore.

How To Save Your Real Estate Investment Search Criteria

If you set the searches correctly, you will be notified every time a new property that meets your initial criteria hits the market. In today's low-inventory market, there is a very real need for reaction speed! If the right property is listed, you need to make an offer within minutes in order to have the chance to secure it.

If you think this is overstated, go back to the properties identified above and look at how many of them are already under contract! Good properties sell very fast, and you need to work with the right agent who will help you successfully negotiate the property.

SUCCESSFUL INVESTMENT IS WARFARE!

Investor Booklet

There are fundamental concepts that apply to the real estate investment industry that have also been found true consistently on the battlefield throughout history.

Prudent investors could strengthen their positions by taking a lesson from our military history and doctrine.

This brief paper attempts to explain how investors can alter their strategic plans by using the same analytical techniques as would be applied by our modern warriors.

Use a cost-approach when examining value to safeguard your purchase decisionUse A Cost-Approach When Determining Value

How does an investor safeguard against over-paying for a property? After all, it is highly likely that you will pay ABOVE asking price when a great property hits the market, but how high is too high?

One way is to look at the property from a replacement value standpoint. For example, let's say you were looking at a 2,000 square foot home, and it was in excellent (but used) condition, and it was priced at $200,000. How good of a deal is that?

Well, if you take a cost-approach, you would evaluate what it would cost you to replace the property by building a new one. Obviously, a new home would be in better shape and have modern improvements, so we're not doing this to compare apples to oranges, rather we do it to establish the discount you are getting by buying used.

In the 2,000 square foot home example, you might discover the land would cost $100K to replace, and the home would cost $125 per square foot to replace. So your replacement cost analysis would show that the home you can buy today for $200K would cost you ($100K + 2,000 X $125) $300,000 to replace. If you do this for each property you evaluate, you'll start to get a feel for finding the diamond in the rough.

How And Why The Saved Search Above Was Created

The following graph shows the neighborhoods selected in the saved search at the beginning of this article.

If you want to be a successful real estate investor, you need to have a strategy and the tools to ensure you maintain the perfect portfolio of properties

I did some data mining to find neighborhoods that were most-likely beat the market for homes that are priced from $150K to $250K in NW Tallahassee. I am very bullish on this side of town because of several dynamics that I mention in many earlier articles.

From left to right in the graph, the neighborhoods that I selected are sorted by average price per square foot of a home sold in 2020. The red line shows the appreciation rate for the neighborhood over the past three years, while the gray line shows the appreciation rate for 2020 alone (not that some exceed 10%!).

There is no guarantee that any home above is a good buy, but what we've done is isolate the ones most likely to outperform the market by choosing neighborhoods that have mostly underperformed the market during the recovery from 2012.

Right now, I would say that homes in Wellswood and homes in Bent Tree Estate should be closely monitored as having home run potential, and San Luis Ridge, Forest Heights and a few others interesting too. San Luis Ridge values are up more than 30% over the past three years, but they are still far too cheap when looking at a cost-approach valuation.

Let data be your friend, it will guide you to some properties that you might not have considered. Remember, if you work with a real estate buyer's agent that you trust and that you know is an expert in the market, it will allow you to sleep soundly knowing that your real estate investment is a wise decision.

Answers To Frequently Asked Questions

What are closing costs when buying a home?
What are closing costs when buying a home?
If you are planning to buy a home now, or in the next few months, there are some fees and expenses you’ll need to pay in addition to your down payment that you should know about. Other than your down payment, all money you spend when you buy a home are called “closing costs,” and you should know about them ahead of time. Even experienced buyers can be surprised at all the costs that are associated with buying a home today. This short video will cover what you need to know so that you can (one, be prepared,
What To Offer On A Home In A Sellers Market
What To Offer On A Home In A Sellers Market
We are experiencing the strongest seller's market on record, so you have to be prepared to make the right kind of offer if you want to buy a home today. And it's not all just about how much to offer, there is so much involved when making the "RIGHT" offer in a seller's market. I have shared my experience of selling thousands of homes in a seller's market, both with working for buyers and with working for sellers. I have shared 3 important home buying tips to enlighten you on what matters most to sellers so
Real Estate Appraisal Versus Fair Market Value Of A Home?
Real Estate Appraisal Versus Fair Market Value Of A Home?
What is the difference between a real estate appraisal and the fair market value of a home? If there is one practice that confounds both home buyers and home sellers alike it's the fact that the majority of real estate transactions close at the mercy of an appraisal conducted for a purpose that most consumers do not consider. Understanding these differences will save you money when it comes to buying or selling a home, and it will help you appreciate the need and value of a real estate appraisal. But here’s
Home Staging Advice For Sellers
Home Staging Advice For Sellers
Do you wonder how to net more money selling your home? This is one of my top home selling tips. Today's video is everything you need to know about staging your home in order to NET the most money from your sale. ?? Here's a link to our FREE Home Sellers Checklist mentioned in the video: https://www.tallahasseechecklist.com/home-seller-checklist-downloadzh61xghm
What Is Pre Marketing In Real Estate When Selling A Home?
What Is Pre Marketing In Real Estate When Selling A Home?
What is pre-marketing in real estate when selling a home? When your home hits the market and it "goes live," how many buyers will be standing in line to get in? Will it look like an Apple store on the day the new iPhone is released? If not, why not? ... it's all in the video ??????
Home Selling Tip: Don't Price Your Home On The 9s!
Home Selling Tip: Don't Price Your Home On The 9s!
One of the most important steps in your marketing strategy when selling a home is setting the initial asking price for the home. While I have discussed this in previous videos, today I’m going to discuss a technique that I refer to as pricing on the 9s. It works to reduce the buyer pool for the home seller and reduce’s the seller’s chances of getting top dollar for the home. It is a terrible tactic and works against the seller. If you watch this short video, you’ll understand exactly why it hurts home selle
Ugly Real Estate Listing Pictures | Real Estate Photography Tips
Ugly Real Estate Listing Pictures | Real Estate Photography Tips
I’ve got some funny, ugly real estate listing pictures to share with you today, along with some simple real estate photography tips. Take a humorous look at some of the WORST pictures I have seen used when marketing a home ... not the way to sell your house!
First Right Of Refusal Meaning Explained
First Right Of Refusal Meaning Explained
What is a right of first refusal? What does first right of refusal mean when dealing with a real estate contract? Accepting real estate contingencies without understanding them often causes home sellers problems. I have shared a real-world example of how we handled a first right of refusal real estate contract negotiation, and the decision-making process used to put the home seller in the best situation possible. Pay close attention to this short video and you’ll have a better understanding of the right to
What Is A Seller's Market In Real Estate?
What Is A Seller's Market In Real Estate?
You might have heard that we have a huge seller’s market right now in real estate. Do you know what that means? This real estate frequently asked question comes up from time to time when somebody is buying a home or selling a home. They want to know if its a buyer’s market or a seller’s market. Is now a good time to buy a home in the Tallahassee real estate market? I have prepared this short video to demonstrate the conditions that make this a seller’s market, and then we’ll show you the numbers and how we
How Much Margin For Negotiation Should I Include In My Asking Price?
How Much Margin For Negotiation Should I Include In My Asking Price?
I was recently asked "How much margin for negotiation should I include in my asking price?" This is a common question from experienced home sellers. They have sold homes in the past and understand the negotiation process involves a game of give and take, so doesn’t it make good sense to start with a little wiggle room in your price so that you can give it to the buyer to secure a sale? Here's what you should know. I explain EXACTLY how much margin for negotiation you should add to the price of your home t
How Long Does It Take To Sell A Home In 2020?
How Long Does It Take To Sell A Home In 2020?
How long does it take a home to sell in 2020? I've been asked this question a lot recently, and it made me realize a full explanation was in order. Why? Because if you understood how to sell a home for top dollar, you would know that it is a trick question. Trust me on this. Invest the few minutes it takes to watch the video and you'll have a better understanding of selling a home than do most people in the real estate industry (and I'll prove it!).
How Many Times Will A Home Seller Counter Offer?
How Many Times Will A Home Seller Counter Offer?
This real estate frequently asked question is from a recent home buyer. If you are about to buy a home in Tallahassee Florida or beyond and you’re trying to better understand how the real estate negotiation process will work, then understanding how to better control the negotiation is going to keep some of your hard-earned money in your pocket!
5 Ways To Handle The House In A Divorce
5 Ways To Handle The House In A Divorce
If there is one thing that I see divorcing couples doing wrong more often than not, it is the decision on how to handle the house where the couple has lived. While I am not a lawyer and I'm not dispensing legal advice, take it from somebody who has helped hundreds of divorcing couples, there is a right way (and FOUR wrong ways) to handle the house in a divorce. Tell your attorney that you want to do it right!
What Is A Swimming Pool Worth?
What Is A Swimming Pool Worth?
What Is A Swimming Pool Worth? Recently, a customer buying a home asked me a simple question. She inquired “how much does a pool add to the value of a home?” Pretty simple question, right? Well, by the end of this short video, you’ll know the not-so-simple answer (and why this is so important).
How Digital Has Changed How We Sell A Home Today
How Digital Has Changed How We Sell A Home Today
Time to sell a home? The digital age has had a huge impact on what homeowners must do to get top dollar when selling their home. In this video, Joe Manausa explains why and how things have changed, and then lays out the plan for what home sellers must do.
How To Subscribe To The Joe Manausa Real Estate Channel On YouTube
How To Subscribe To The Joe Manausa Real Estate Channel On YouTube
Have you subscribed to the Joe Manausa Real Estate Channel on YouTube? It's a "must" for people who are planning to sell or buy a home in the near future. Just click subscribe to get started, and the bell icon, so that you never miss anything!
Who is responsible for determining the value of the home you want to buy?
Who is responsible for determining the value of the home you want to buy?
If you are planning on buying a home now, or within the next three to six months, you are going to have all sorts of questions pop up for which you’ll want answers. Among the most important of these will have to do with figuring out what a home is worth. As a matter of fact, I was recently asked this question “Who is primarily responsible for determining the market value of the home you want to buy?” Questions about valuation are very common from buyers of all experience levels because nobody wants to overp

Recent Housing Market Reports

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Real Estate Crash In 2021?
Are you worried about a real estate crash in 2021? For this to happen, we’ll first start to see a rise in the supply of homes for sale, so today’s housing market 2020 report is focused on the supply side of housing market conditions. In normal years, October is about the slowest month for new contracts being written and new listings entering the market. But this is 2020. This is not normal. You should know that I do provide a fair warning, for all home sellers, near the end of this video.
Foreclosures 2020: The Coming Coronavirus Foreclosure Crisis
Foreclosures 2020: The Coming Coronavirus Foreclosure Crisis
Is there a foreclosure crisis or is it fake news? I’m seeing a lot of videos and articles about the impending doom of the housing market. A tsunami of foreclosures? Evictions by the millions? Home prices dropping by 40%! There are a lot of doomsayers getting a lot of attention these days. Wouldn’t it be interesting to take a fact-based look at the housing market instead? Sit back, relax, and watch our Housing Market 2020 Forecast, and you'll discover the real deal about the impending foreclosure crisis in
Tallahassee Real Estate Market Update October 2020
Tallahassee Real Estate Market Update October 2020
September is over and it's time for a new Tallahassee real estate market update. As with all things 2020, this just does not seem like October in Tallahassee Florida (though the weather is wonderful). Buyers are as active as they were in May, and we still have a chance to finish 2020 with the most home sales in the past 13 years. I have created some graphs that I will share with you now, they accurately depict current housing market conditions and make it possible to forecast what we will see next in the Ta
3rd Quarter 2020 Home Sales Report
3rd Quarter 2020 Home Sales Report
I continue to report that the overall housing market has slowed due to inventory shortages, so I decided to dig deeper to see if I could uncover something new and interesting for our readers. Boy did I. It's not often that I get surprised since I track the housing market daily, but this new analysis is truly an eye-opener. I hope you agree as well. Schedule a 15-minute, no-strings-attached phone call with Joe http://tlh15.com
Housing Market Inventory Update September 2020
Housing Market Inventory Update September 2020
This "Housing Market Inventory Update September 2020" report exposes the supply-side of the Tallahassee real estate market. We explore both existing home sellers as well as new construction homes being built too. The link mentioned in the video is here: http://TLH15.com
Housing Market September 2020 | Ginormous Real Estate Report
Housing Market September 2020 | Ginormous Real Estate Report
The September 2020 housing market update is ginormous, the kind I only produce a handful of times each year. Follow along as I walk you through current housing market conditions and conclude with a specific demonstration of how current conditions could be exploited. If you own a home or plan to own one sometime soon, this is what you need to know.
3rd Quarter 2020 Home Sales Report
3rd Quarter 2020 Home Sales Report
3rd Quarter 2020 Home Sales Report - I continue to report that the overall housing market has slowed due to inventory shortages, so I decided to dig deeper to see if I could uncover something new and interesting for our readers. Boy did I. It's not often that I get surprised since I track the housing market daily, but this new analysis is truly an eye-opener. I hope you agree as well.
Is The Housing Market Too Hot To Sustain?
Is The Housing Market Too Hot To Sustain?
The real estate market September 2020 continues to be hot, despite no end in sight for the COVID-19 pandemic. I was wondering, "is the housing market too hot?" Is the current rate of sales sustainable? Are we seeing 2003 through 2006 conditions happening again? This housing market report starts with a look at the big picture, the US housing market, and then drills down to Tallahassee housing market, and finally to zip code level in the Tallahassee real estate market. Sit back, relax, grab a cold drink, and
September 2020 Housing Market Report Using Quartiles
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Our early September 2020 housing market report quartiles home prices in the real estate market through last month. What’s a quartile you say? A quartile housing report is like a median housing report on steroids, it gives you 3 times the information about what people are spending on homes. If you are new to reports using quartiles, stick around to the end of this short video and you’ll see how we glean quality information using the quartile function. Sit back, relax, kick your feet up, and prepare for a dif
Housing Market Inventory Update September 2020
Housing Market Inventory Update September 2020
This "Housing Market Inventory Update September 2020" report exposes the supply-side of the Tallahassee real estate market. We explore both existing home sellers as well as new construction homes being built too.
The Difference Between New Home Sales And Existing Home Sales
The Difference Between New Home Sales And Existing Home Sales
The Tallahassee real estate market continues to suffer from a decimated inventory that forces multiple buyers into bidding wars over each new listing that hits the market. Hands down, bar none, this is the best time to sell a home that I’ve ever seen in my near 30 years experience selling homes in Tallahassee. There simply are not enough homes for sale for our normal market demand. That’s right. Demand is not the highest I’ve ever seen, but supply is the lowest on record. The reduced supply of homes is due
Housing Market August 2020 Update
Housing Market August 2020 Update
This video provides an analysis of the Tallahassee real estate market in early August of 2020. If you own a home in Tallahassee, this will give you insight into how your largest asset is doing and let you know where you stand if you would like to move now or in the near future. If you do not live in Tallahassee, this report is likely to reveal market conditions very similar to your own, though the price-points might be higher or lower.
The Difference Between New Home Sales And Existing Home Sales
The Difference Between New Home Sales And Existing Home Sales
The Tallahassee real estate market continues to suffer from a decimated inventory that forces multiple buyers into bidding wars over each new listing that hits the market. Hands down, bar none, this is the best time to sell a home that I’ve ever seen in my near 30 years experience selling homes in Tallahassee. There simply are not enough homes for sale for our normal market demand. That’s right. Demand is not the highest I’ve ever seen, but supply is the lowest on record. The reduced supply of homes is due
Pending Home Sales Report August 2020
Pending Home Sales Report August 2020
The Pending Home Sales is a leading indicator for the housing market, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Most housing market analyses identify home sales after they close, but a study of pending home sales give us real estate market information nearly two full months earlier than do closed sales reports. The August pending home sal
Luxury Homes Market Report July 2020
Luxury Homes Market Report July 2020
If you are selling your Tallahassee luxury home in the next 3-6 months, you naturally may be asking yourself if this is a good time to sell due to COVID-19. This is one of the most common questions I’m getting from friends and clients right now. If you’re going to sell, you obviously want to sell for every dollar you can get. So is it possible to sell a luxury home in Tallahassee for top dollar right now?
July 2020 Housing Market Report
July 2020 Housing Market Report
The Housing Market July 2020 Report is a comprehensive analysis of the Tallahassee real estate market at the half-way point in 2020. If you own a home in Tallahassee, this will give you insight into how your largest asset is doing and let you know where you stand if you would like to move now or in the near future. If you do not live in Tallahassee, this report is likely to reveal market conditions very similar to your own, though the price-points might be higher or lower.
3 Market Forces Helping Home Sellers
3 Market Forces Helping Home Sellers
Where Have All The Houses Gone?
Where Have All The Houses Gone?

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