I want to buy investment property!

In the last 5 years I have heard so many people shout that statement. "I want to buy investment property!" Like it's something that's done over a lunch break. Of all the people who have uttered these words, probably about half have acted on their statement. (Myself included in the...we'll call mine the slow performing half.)

For those who were daring, crazy, stupid, lucky or just plain smart...it is an exciting thing to see a new investor make that commitment and pick up their first property or two.

The killer is when you see the excitement slip away and, as the panic starts in, they realize that they have no clue what they have just stepped into. "How do I SELL my investment property?!?"

I don't know how you respond when you hear about some newbie investor who just walked away from their first closing with more in their pocket than you cleared all year at your 9 to 5 (that you are desperately trying to justify leaving if only to make 1/10th of what that guy just cleared). I hope you agree, though, that seeing a once zealous newbie investor fizzle, struggle and possibly fail is depressing. (Especially if you happen to be that newbie.)

What amazes me is that there are deals out there to be had. The market is full of possibilities for landlords...even quick turn rehabbers. As an agent, I see the successful investors quite frequently. They've got the mastery of this thing called REI. They shock me with the deals they get when they buy. They shock me with the prices they sell for. Even on the deals that seem to go sour there is "lemonade being made" somewhere. I'm told to make your money when you buy, not when you sell.

So here's my question: How does an investor KNOW when they've got a deal?

The simple answer is calculations. The long answer is....

The long answer begins by determining what tools you have to help you locate the answer. I've got some great tools! I've got access to the MLS, a data savvy friend and a handful of investors who want to find more/better deals.

It looks like I'm on my way. And, as the calculations are refined, I'll be happy to share my findings with you. Because, just like you, "I want to buy investment property!"