How Do You Make Money In Real Estate – Part 1

You don’t make money when you sell real estate, you make money when you buy it

Did you hear that statement? Let me say it again: you don’t make money when you sell real estate, you make money when you buy it!

Someone once told me that statement is backwards, how on earth can you make money when you buy it.

Now you might get your money when you sell your home, but It’s how well you BOUGHT your home that will determine HOW MUCH of that money you get to keep.

Hey, my name is Mike Abou Daher and I specialize in helping families buy, sell and invest in real estate.

It’s no surprise that borrowing 200k, 300k or more is a lot of money. And how to find the right home… how much to PAY for the home… how much to BORROW… and on what FINANCIAL TERMS can mean thousands of dollars MORE or LESS in your pocket!

And if you’re like most people the decision doesn’t come easy, for about 80% of buyers it’s the single largest transaction of their lives. Mistakes in any part can cost you thousands.

I’ve put together this video series to give you a number of helpful, straightforward tips for finding a home that meets your needs and becomes a smart financial investment for you and your family.

So let’s go let’s get started with the first tip in today’s video.

#1. What do you NEED in your next home?

Two things you need to consider here: Your NEEDS and your WANTS. Two very different things. You may need a 3 bedroom home because of the size of your family, or a 3 car garage and what you’ll find is your needs are fairly basic. It’s the “wants” that take a little more time to clarify. So let’s go over some of the needs you should consider:

1. Price – qualify vs afford
2. Size and type of home
3. Location – communities by work, schools, amenities,…
4. Number of rooms and bathrooms
5. Style and layout – formal, contemporary

Here’s the bottom line.

If you found this helpful and you’re in the process of considering a purchase I have good news. This is one of many videos I’ll be putting out to give you some tips and insight. All you need to do is like this page and I’ll be posting the videos here first.

Now if you can’t wait for these videos and have some questions just head over to PlanWithMike Select a time that works for you and let’s have a quick chat.

Make sure to watch out for the next video and I’ll chat with you soon!