WIIRE 048: The Power of a Buy Box

Hi, friends! If you’re a frequent listener of the WIIRE podcast you’ll hear us talk a lot about our ‘buy boxes’ and in this weeks episode we’re going be diving into exactly what a buy box is, why having a buy box is important, how you can determine your buy box criteria and what our buy boxes look like.
 

Let’s start by defining exactly what a buy box is…

A buy box is a short, concise list of criteria of the exact deal you want to purchase. 
 

Example of a buy box:

“A single family home located in Des Moines, Iowa that has 3 bedrooms, 2 bathrooms, medium to low rehab, under $x (dollar amount).”
 

Why should I have a buy box?

A buy box is used to tell people (family, friends, investors, other REI professionals, etc.) exactly what it is that you are looking to buy.

 

What criteria should be in my buy box?

• Location
• Neighborhood Class
• Purchase price
• Metrics
• Physical characteristics
• Renovation level

 

Lastly, remember that as you grow your REI business and your life changes you can adjust your buy box to keep your portfolio growing!

We hope you loved this episode. Come hang out with us over on Instagram and share your buy box with us and we’ll catch you in the next episode!

 

 

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