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Homes and Land in Sunny Sequim, Washington

Homes and Land in Sunny Sequim, Washington

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Real Estate Investors Struggle to Find a Good Deal

by Chuck Marunde / Friday, 28 November 2008 / Published in Investing

Real Estate InvestingReal estate investors are scooping up the deals and making millions.   Right?   Wrong!   I met with an investor the day before the Thanksgiving holiday, and he   was ready, willing, and able.   Like the vast majority of real estate investors     around the country right now, he is having trouble pulling the trigger on a buying decision.   Why?

People think the general state of the real estate market creates grand opportunities for investors, and it does, but only in a general sense.   The fact that the real estate market is in a major slump undoubtedly creates an environment of opportunity.   But an investor must find that diamond in the rough, and that is not easy.

We’ve all been talking about how many foreclosures there are, and it seems every day there is another news headline about the large numbers of homes in foreclosure.   But try to find a single home in a good area that has the parameters of a good investment, such as three bedrooms, two baths, a double car garage, including one that will crunch the numbers you need, well . . . that’s a horse of a different color.

Intelligent investors are not interested in junk, and there is a lot of junk out there.   There are homes in unattractive areas that are not going to rent or sell well.   Forget those.   There’s a home in a nice area, but the retired couple that owned it built only two bedrooms and an odd kitchen.   Forget that.   There is a nice three bedroom, but it only has one bath, and the home is built on a potential mud slide.   There’s a cute cottage on a busy street.   No.   There’s a perfect home in foreclosure, but the current owners are obstinate, and so that one won’t be available until the Trustee’s sale when there are 227 other people competing to buy it.   Don’t want to go there.

When you do find one (have you got 40 hours a week to do research and drive around?), the numbers have to crunch for you.   If it’s going to be a good investment, you have to be able to pick up some equity, and it’s hardly worth investing if you can’t pick up $20,000 to $80,000.   After all, you’re going to have to put some money into it to fix it up or make it sellable, and you’ll have carrying costs and selling costs.   If you want to flip houses, you’ll have to sell well below current fair market value, which means you definitely need a good chunk of equity built in to your investment from the beginning.

One has to be very careful buying homes in distress.   A successful investor I know purchased a foreclosure home at a Trustee’s Sale at a seemingly good price, but later discovered the timbers in the crawl space have to be replaced because of dry rot.   All his profit just went poof!

This is why it is not so easy to be a real estate investor, even in times of plenty.   There are plenty of houses for sale, but finding the perfect investment project is definitely a struggle.   They’re out there, but good luck finding them.

Possibly Related Posts:

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About Chuck Marunde

After practicing real estate law for 20 years in Washington, Chuck opened iRealty Virtual Brokers covering the Sequim and the beautiful Olympic Peninsula. Chuck is the author of numerous magazine and Internet articles with a primary focus on real estate. He is also the author of over a dozen books, mostly about Sequim real estate. Chuck is a photographer, videographer, and Registered FAA Drone Pilot. Chuck has combined his love for real estate and technology to create a growing Internet presence in his market, and enjoys building his websites and blogs, including SequimBlog.com and Sequim4Sale.com and LuxuryWaterViewHomes.com. Chuck has degrees in Economics, Law, and Education.

1 Comment to “ Real Estate Investors Struggle to Find a Good Deal”

  1. Shawn says :Reply
    December 1, 2008 at 8:54 pm

    This is interesting news. I’m new to real estate(investing). I’m going to try to give you updates on my trials while trying to start my journey in the world of investing.

    http://www.inexpensiveinvestinginflorida.com

    Thanks

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Chuck E. Marunde, J.D.

Sequim Buyer's Agent
(Atty Ret.)
Founder and Broker of
Sequim & Port Angeles Real Estate dba iRealty Virtual Brokers
125 Olympic Ranch Ln,
Sequim, WA 98382
(360) 775-5424
ChuckMarunde@gmail.com

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From Los Angeles

It's rare, but once in awhile life provides the perfect collaborator for an important endeavor such as buying your new home. For me that person was Chuck Marunde. His two decade background as a Real Estate Attorney, his prolific career as an author of articles and books on Real Estate and his forthright and moral character made choosing Chuck a no-brainer. Chuck is dedicated, thorough, incredible at the negotiating table, knowledgeable about all local laws & regs but, most importantly, Chuck loves what he does. And what he does is find his client the perfect property. Chuck isn't about making the sale, he's about making the sale that is OPTIMUM for his CLIENT and this makes Chuck a rare bird indeed. I love my new home in Sequim and I am indebted to Chuck for making it happen. Kevin E.

From Seattle

I’ve had the pleasure of working with Chuck over the past three years in selling my parent's estate. It was a tough time to sell during the housing recession, but Chuck always kept things on the positive side. With his real estate law background, he offers sound, practical advice. He helps you along with the process using discussions and reason, rather than opinions and speculations. If Chuck doesn’t know the answers, he will get them for you. In several instances, Chuck took the initiative to meet with county officials to get up-to-date facts about zoning and regulations. I was always impressed with his company’s tech savvy communi-cations and internet presence: weekly email updates, blogs, videos, links, Linked-in networking, etc. He is truly pioneering the future of buying & selling real estate. Brian M.

From California

"Andy Romano is a successful motion picture character actor with over 40 years in 'the Biz.' Mr. Romano has a home in beautiful Santa Barbara, California, but he chooses to live most of the time in Sequim, Washington on the Olympic Peninsula in the great Pacific Northwest. Why? In his own words, 'Because it's even more beautiful and surrounded by more beauty in this incredibly peaceful and quiet place. With respect to real estate agents or brokers, well my friend Chuck Marunde, owner of Sequim and Port Angeles Real Estate, is hands down the best there" Andy R.

Intro by Chuck Marunde

From Florida

We do our homework for the task at hand and we look for and expect to enlist partners that do the same. It was our good fortune to select Chuck Marunde of Sequim and Port Angeles Real Estate to represent us as a buyer's broker in our search for a home in the Sequim/Port Angeles area. Chuck's site is all encompassing and super fast compared to many others, he knows the market at every conceivable level and his guidance through the process of selecting and purchasing a home is priceless - above and beyond that of anyone with whom we have ever worked. Add to all this his 20 year background in real estate law and you have discovered a superb asset in the adventure of purchasing a home. Greg and Marilyn

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