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Real estate<\/a> investor Sidney Torres is dishing on his big secret to making millions in real estate: Buy, don\u2019t sell.<\/p>\n Torres says the priority is to have a smart buying strategy where you truly can net the most profits, not in the renovations.\u00a0<\/p>\n Read more<\/strong>: 10 Top Rental Markets for Investors<\/span><\/p>\n<\/blockquote>\n \u201cA lot of people think, \u2018Oh, I\u2019m going to go in there and I\u2019m going to renovate [the property] for a lot less, and that\u2019s where I\u2019m going to make my money,\u201d says Torres, the host of CNBC\u2019s \u201cThe Deed.\u201d \u201cYou make your money on the buy. The best properties to buy are going to be those in up-and-coming neighborhoods that are \u2018on the edge of the fringe.\u2019\u201d \u00a0<\/p>\n Torres says it\u2019s important for buyers to do their homework, carefully searching the area, and consulting others who know the market well before making any move.\u00a0<\/p>\n \u201cYou never want to be in a deal where you pay a little more because you think you\u2019re going to renovate it for less,\u201d Torres says. \u201cYou\u2019re putting yourself in a bad position.\u201d\u00a0<\/p>\n Source: \u201cReal Estate Mogul Says This Purchasing Secret Helps Him Find Perfect Buys,\u201d CNBC (March 7, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n [ad_2]\n
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