How Having A Duplex Buy Box Can Help You Reach Your Goals

People often ask me to call when I find a good deal. When I ask their definition of what that is, they often have no idea.

That’s where something called a “Buy Box” comes in. While it sounds like a kit you pick up at the store to help you learn all about investing in real estate, it’s not.

A buy box is a fancy term for a checklist. That list consists of the criteria you, as an investor, use to compare a prospective property to the mile markers you need to hit to achieve your investment goals.

For example, your dream may be to own a large portfolio of apartment buildings so you can quit your day job. You may not have the down payment for that kind of large acquisition, so your goal may be to grow your equity by rehabbing property. Or, you may need help paying for daycare right now, in which case maximizing cash flow is your top priority. Then again, you may need both.

If you’ve done your homework you know what type of property will provide the best step toward achieving your goa.. You’ve likely settled on a neighborhood or how much and whether you’re willing to do any work, your expected bedroom or unit mix, and most importantly, the rate of return you’re hoping to achieve.

Being clear about these things actually helps both you and your Realtor. You won’t waste your time looking at properties that appear to be a good deal but in reality, are not.

Having clear objectives also allows your Realtor to spend time trying to find you off market properties that actually do fit your needs.