A Guide To Finding Incredible Deals
How do you make sure you get the price you want and maximize your profit margin?It's simple: Buy when the seller is so eager to close a deal they would practically give up their first-born child.
The most common cases involve "The Four D's" - that is, death, divorce, debt and disaster.
These catastrophes will make a person unbelievably eager to get out from under the financial weight that is otherwise known as real estate.
The savvy shopper will sniff these opportunities out and seize the day.
Death Obituary announcements in newspapers, estate sales and auctions are all useful in seeking out this unfortunate life event that will usually indicate a great deal on real estate.
It could be as simple as showing up at estate sales or even yard sales and asking if the real estate will also be sold.
Auctions can be a little more competitive, but rainy weather on auction day generally bodes well for the doggedly determined real estate investor.
Divorce Having cash on hand is important in transactions like these.
Cash-only is typically the preferred method so proceeds from the sale may be evenly divided.
Abandoned and neglected homes in otherwise decent neighborhoods can also be an indicator of a divorce.
Visit the neighborhood after business hours to find more neighbors bustling about.
Strike up a conversation to get the scoop on the seemingly abandoned property.
It may be the homeowners are simply out of town for a while, but it may mean gold for the real estate investor.
Debt This is one of the easiest ways to find cheap real estate.
The homeowner couldn't make their house payment, so the lender foreclosed on the loan.
Keep in touch with a few home loan companies and maybe even consider getting preapproved for a loan so you will increase your odds of being one of the first they'll contact.
Disaster In the case of natural disasters, there may be a prevailing fear that the disaster may re-occur.
If the real estate investor is willing to risk a tough turnaround, based on how Mother Nature's hand plays out, this can be a very profitable deal after a few years.
This is particularly true if the investor is capable of doing home repairs on the cheap, without professional help.
The most important thing to remember is - as with all business transactions, keep a cool head and weigh all the options before making a decision.
Survey the good and the bad with an objective eye.
This is very important because real estate investing can be your worst nightmare, but when done right by a savvy investor with good instincts, it can be your best friend.
The most common cases involve "The Four D's" - that is, death, divorce, debt and disaster.
These catastrophes will make a person unbelievably eager to get out from under the financial weight that is otherwise known as real estate.
The savvy shopper will sniff these opportunities out and seize the day.
Death Obituary announcements in newspapers, estate sales and auctions are all useful in seeking out this unfortunate life event that will usually indicate a great deal on real estate.
It could be as simple as showing up at estate sales or even yard sales and asking if the real estate will also be sold.
Auctions can be a little more competitive, but rainy weather on auction day generally bodes well for the doggedly determined real estate investor.
Divorce Having cash on hand is important in transactions like these.
Cash-only is typically the preferred method so proceeds from the sale may be evenly divided.
Abandoned and neglected homes in otherwise decent neighborhoods can also be an indicator of a divorce.
Visit the neighborhood after business hours to find more neighbors bustling about.
Strike up a conversation to get the scoop on the seemingly abandoned property.
It may be the homeowners are simply out of town for a while, but it may mean gold for the real estate investor.
Debt This is one of the easiest ways to find cheap real estate.
The homeowner couldn't make their house payment, so the lender foreclosed on the loan.
Keep in touch with a few home loan companies and maybe even consider getting preapproved for a loan so you will increase your odds of being one of the first they'll contact.
Disaster In the case of natural disasters, there may be a prevailing fear that the disaster may re-occur.
If the real estate investor is willing to risk a tough turnaround, based on how Mother Nature's hand plays out, this can be a very profitable deal after a few years.
This is particularly true if the investor is capable of doing home repairs on the cheap, without professional help.
The most important thing to remember is - as with all business transactions, keep a cool head and weigh all the options before making a decision.
Survey the good and the bad with an objective eye.
This is very important because real estate investing can be your worst nightmare, but when done right by a savvy investor with good instincts, it can be your best friend.
