Orange County Real Estate Success

For success in today’s marketplace, a Real Estate investor definitely needs a realistic strategy and set of expectations.  Before you plunk down your hard earned money on an Orange County property, you’ve got to cut through all the debris and determined exactly what IS a good deal, who gets them, and how.  From my experience, investors should adhere to the following guidelines to maximize their chances of success.

1. Determine how much you want to spend.
2. Determine your intention.  Is the property you’re eyeballing a portfolio piece, or buy & flip?
3. Know how to recognize a good deal.  Once you’ve pinpointed market value and neighborhood, grabbing a property at 10% below market value is a DEAL.
4. Get the REAL numbers. How much are expenses, upgrades, commissions, rents, etc.?

I had the good fortune of interviewing John, a full time courthouse steps investor. According to him, a profit of 10-15% on the courthouse steps is good.  Remember, you make your $$ not on a per deal basis, but by how fast you move the property or turn your money.

John added that many investors are going for condos that are un-financeable. Why? Because the less people can buy, the more the value drops. Good ol’ supply and demand at work. Many investors are buying to hold for 5-10 yrs, hoping the hoa recovers, and the property significantly appreciates. And while we’re on the topic of condos, investors should have a good long look at those located in college towns.  Since these properties are a short walk to the local campus, they have a built-in appeal.

Need a spreadsheet to help with your numbers!?  Just call, tweet, or email me! I’ve got just what you need. And, of course, if you have any questions about buying or selling Orange County homes, I’ll be delighted to help. You can connect with me at 949.338.7408 or  angie@askangie.com,  @AngieWeeks or @WeeksTeam.