When you’re struggling to afford a house, or gain a good investment property, finding a hot real estate deal might be the ticket to reaching your goals. But hot deals don’t grow on trees. They take special effort and knowledge to find. But you can do it, if sufficiently motivated.
Before starting on how to find one, it helps to define what a “hot” real estate deal is. I think it’s safe to say that a “hot” deal is anything where the price is under market value. But that’s as far as it goes, because what’s hot to some might be merely lukewarm to others.
For instance, an investor might look at a fixer that’s priced 10% under market value, and not consider that to be a hot deal. But a first-time buyer trying to move into a certain neighborhood would consider that same property a super-hot deal.
In fact, if it’s a seller’s market where home prices are rising fast, a buyer might consider a home that’s just 1% below other prices to be a hot deal, even if the house is smaller or in need of fixing.
Either way, no matter how it’s defined, finding a hot deal is every home buyer’s dream. And sometimes it’s necessary to get into the market at all.
If you, or someone you know, needs to find a hot deal, then using the following tactics could help you uncover deals. It’s not easy. But a sufficiently motivated buyer with time on their hands can uncover a deal that works for them.
With that, read through my 8 tips for finding your own hot real estate deal. Call me if you need help! ~(718) 399-3320