Real estate investing is like any other kind of investing – you need to buy low and sell high. So the key to successful real estate investing is not only about the price you sell the property for, but you also need to make sure that you buy the property at the right price well below market value so that you have your profit margin built in at the time you purchase the property.
The Investment Dominator has made it easy for investors to research land parcels, find out their true market value so that they can make offers accordingly.
Here’s how you can use these market research tools.
After logging into your Investment Dominator app and clicking on “Land Deals”, have a look at your contact records and make sure that the property you want to research is in the “Pending Preliminary Research” status. Then, click on the “Edit” button on that record.
Once inside the property record, you will want to enter in some information about the property’s location – in particular, the state and zip code.
And then click on “Update Record”.
After you have filled in this information, something cool happens – you will see a new button called ‘Market Research‘ appear on the menu inside the property record. If you hover over the ‘Market Research’ option, options for Realtor.com, Trulia.com, LandWatch.com, Zillow.com, and Redfin.com will appear. Click on one of these options to view the comparable listing maps for these popular real estate marketplaces to figure out the true market value of your property compared to what’s on the market or has been sold recently.
Recently sold properties are the best way to find out the market value of a property – in other words, what people are actually willing to pay for a property like the one you are looking at.
Average up the numbers given by the different sources, and you should have a reasonably accurate market value, and then you can use that number to make your offer.