“You Have Three Choices” – It’s a total lie. But it makes for great TV.

choice3Re: Three Choices

We have all seen the shows on TV.  A first time homebuyer wants to buy a home and they are given three choices.  After some hand-wringing, they pick one.  
We suspend our beliefs because it makes for a good 30 minutes of entertainment. I would say shows like that help me relax, but a good part of the time I want to throw my Diet Coke at the TV when they clearly pick the wrong house.
Out here in the real world we face a lot of factors when trying to buy a home. In our world of finding, fixing and flipping homes we have to narrow down a huge inventory to just a few homes that fit our criteria.  Maybe we look at a few dozen houses and pick one that both parties can agree on all the details – price being just one of those details.
Inventory and choice are two of the reasons Airbnb properties are doing well in our area.  There is a tight supply of homes or apartments available for short term rentals.  On the demand side – a lot of people from around the world like to come to DC and enjoy all that the area has to offer.


You can still find the Airbnb article we posted yesterday athttp://washingtonreianetwork.com/2016/03/16/can-make-a-profit-with-airbnb-in-dc/


Many new investors choose a Realtor to work with the same way these TV “homebuyers” choose a house.  Talk to three and pick one.  Or worse, they have an uncle who works “part time” selling neighbors homes and think that Uncle Moe knows everything about investment property – so they start working with him.   (Most of the time, that doesn’t work out too well.)


Don’t be one of those people.  Keep looking until you find the right person.  It could be the difference between success and failure at worst, and will easily save a lot of frustration in the long run.


It’s one of the main keys to success.  Focus.


Figure out what you need when it comes to properties, and find a Realtor that can do more than “pull up listings” for you.  Find someone to be part of your team that can really dig in and work with you. Ultimately you will both find success.


Now, let’s talk about the guest speaker we have Monday night at our March WREIA meeting.


I want to share a real treasure of an agent that I have worked with recently.  You should get to know him too.  As far as “investor-friendly” goes – this is the type of person you should be looking for and putting in your Rolodex.  (Does anyone else still use a Rolodex?)


Good “investor-friendly” agents are really hard to find.  
If you ask most agents they will say they “work with investors”, but at the end of the day they really have no idea what we are looking for when it comes to a deal. Most would be embarrassed or afraid to show you the homes that we know are the real treasures of our business.If you want to know what it’s like to work with a terrific agent – you have one option – join us on Monday night at WREIA for all the details.


We have an experienced DC area investor-friendly agent with us this month at our WREIA meeting.  He is going to show you the business behind our business and will very likely teach you a few things you didn’t know about our area.  I say this from experience.Every time we meet he drops a few knowledge bombs on me.
It’s a great opportunity for you to learn from one of DC’s hustlers who is on the streets every day working for his clients.


Next Monday is a great opportunity for you to ask a few questions like:

  • Where are people making the most money in DC?
  • How much time does it take to flip a property in our area?
  • How much money, at a minimum, should we want to make on a deal?
  • Where do you think prices are headed?
  • What mistakes do you see people making?
Save a few dollars and reserve your seat early.  Then, come join us at WREIA on March 21st. It will be a great way to start the spring season, get you motivated, and get some momentum for the rest of 2016.
Reserve your seat for the third 2016 WREIA meeting here.
Make this year a great year for your business!
John Peterson
Washington REIA Network, President
Profitable Property, FounderP.S.  The Rehab Immersion Course –  Spring 2016 Class we announced at WREIA is off to a blazing start.  We found our subject property, did a deep-dive property tour and have already spent two days at my office pouring through details.  And that’s just the beginning.

Rehab Immersion Course – Summer 2016 Class is limited to 12 students.  If you are looking for an intimate and hands-on setting to learn the details of the renovation process here in the DC area – this is perfect for you.  Don’t miss this chance to get some real-world experience.  If you are interested in joining us, simply call the office and let us know to reserve you a remaining spot.