# Entrepreneur of the Week Keren and Liran Rotter # Post 5 How to locate transactions remotely? Okay, so after we checked some…
How to locate transactions remotely?
Okay, so after we have examined some areas in the US, and decided to invest in a particular area, we will start locating deals that match our investment profile. How do we locate deals and more from a distance of 10,000 km ???
The ways we use are:
1. Establishing relationships with local realtors. We define our search criteria for them and they send us, by email, properties on a daily basis (properties that go on sale).
This topic of networking is also talked about a lot here in the forum, it is an extremely important topic and unfortunately we will not be able to expand on it this week, but we highly recommend looking for posts on the topic.
Real estate is done with people First of all, acquiring trust is the first step in the process of creating partnerships, especially from a distance.
1. Establishing relationships with local realtors. We define our search criteria for them and they send us, by email, properties on a daily basis (properties that go on sale).
This topic of networking is also talked about a lot here in the forum, it is an extremely important topic and unfortunately we will not be able to expand on it this week, but we highly recommend looking for posts on the topic.
Real estate is done with people First of all, acquiring trust is the first step in the process of creating partnerships, especially from a distance.
** I wrote a post here in the group that was dedicated to this important topic just a few months ago, I recommend searching and reading it :-)
2. Another way we take is Tracking properties that are posted on local Facebook groups.
There are two other courses of action we take, but we would not recommend them at first: Working with "Wholesalers" Local andActive marketing activity (Conducting SMS / Email / PPC campaigns and initiated calls) in order to locate homeowners interested in selling their properties.
There are two other courses of action we take, but we would not recommend them at first: Working with "Wholesalers" Local andActive marketing activity (Conducting SMS / Email / PPC campaigns and initiated calls) in order to locate homeowners interested in selling their properties.
Okay… So we started getting optional assets, but how do we analyze the assets and transactions that came to us ??
To analyze a transaction for the purchase of a property for long-term lease, we recommend examining a number of parameters:
1. Inspection of the area where the property is located: Crime level, socio-economic status of the population - income in a single household and whether it is an area characterized by the most tenants or more homeowners- This distinction is very important!
2. Examining the price of the property in comparison to similar properties sold In the area for the last six months (we like to use a free site called Redfin and also get comparisons COMPS From brokers we work with). There are also paid systems that we work with, but do not have to use in the first place.
* In this test it is important to make sure that the price of the property offered to us is the same as the market price? Shorter than him? Or higher than it?
3. What is the monthly rent Can it be obtained for the property? Here it is recommended to use several sources: Rentometer, Zillow, Rent.com and a local management company.
4. Calculation of fixed expenses, Such as: insurance, payment to the management company and municipal taxes ("property tax") - which are paid by the property owner, in contrast to Israel.
* In addition, for those who take financing for the transaction, financing expenses must be added to the calculation.
* In addition, for those who take financing for the transaction, financing expenses must be added to the calculation.
5. Calculation of variable / unexpected expenses, Such as: renovation and maintenance costs, water and sewage costs (in the case of a building with more than one housing unit) and costs when replacing tenants.
6. Reducing the fixed and variable costs from the total rental income will give us the Net income before tax (In the US and in the country). From here we can also calculate the annual return on investment in% and check whether it meets our needs or not J
Those who are interested in receiving a calculator that we have prepared for checking the feasibility of a transaction, are welcome to register with us and we will be happy to send it to you!
Wow… Can't believe we're almost finishing a week, we'll meet tomorrow in the last post.
Thank you for being with us until now??
Wow… Can't believe we're almost finishing a week, we'll meet tomorrow in the last post.
Thank you for being with us until now??
** We would love for you to share with us how you do it or if there are any other topics you would like us to talk about.
Pictured: A less recommended way to locate transactions overseas ?? (Image from the web)
And a few more photos from a visit to the US and meetings with our American partners.
And a few more photos from a visit to the US and meetings with our American partners.
- with Liran Rotter.
Link to the original post on Facebook - Works on a desktop computer (To view the post must be members approved for the forum)
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