Real estate entrepreneur Sidney Torres is helping tons of people with their housing crises on ‘The Deed,’ and now he’s helping you, too! During the HollywoodLife.com podcast, he shared all the tips you need to find an amazing house on a budget.
Getting into the real estate business may sound like a pipe dream to some, but the inspiration of APB on FOX is proving that anyone can do it if they just have the passion and knowledge! On his new show The Deed on CNBC Wednesdays at 10pm, Sidney Torres helps people get out of bad real estate situations and turn them into gold! CLICK HERE TO LISTEN TO THE PODCAST.
“Fixer upper shows, people watch and they like them and they do very well. But this show, people watch and can really learn if you want to get into the game,” Sidney explained EXCLUSIVELY on the HollywoodLife.com podcast. “I always say, you don’t need a bunch of money to get into real estate. You can get started if you have a good mentor.”
Sidney is more than willing to be that mentor to you, and he’s starting with some really great house shopping advice. “Find the best real estate agent in the areas that you think you want to invest in,” says Sidney. “Then, once you find that real estate agent, you look for something that you think you like that you want to buy. Then you want to talk to a good contractor and find out how much it would be to improve that house. Then, go back to that real estate agent and ask, ‘Hey, if I put this much money in it, what is it going to look like when I got to sell it? Am I overpricing my house by putting too much money into it?'”
“When you get those things done you want to negotiate the best deal when buying that house,” Sid continued. “And this is going for that private, your first home too. You want to make sure you do this homework. Then, you negotiate the best deal and you want to get good financing.”
Sid put these rules into effect himself when he first started out, before making $250 million worth of properties a success. “When I got started, I didn’t have a lot of money,” Sid says. “I decided to invest around Tulane and Loyola, which was a college in New Orleans, where a lot of people come in from New York and LA and for them, the prices are cheap for rent, since they’re used to paying New York prices, so I decided I’m going to buy. I couldn’t afford to be right next to the schools, but I had to buy outside a little bit, but I knew the area was coming back and I got good guidance.”
HollywoodLifers, would you consider trying your hand at real estate? Let us know!