Learn How Income Property Investors Buy Real Estate At Huge Discounts
1. Motivation, Motivation, Motivation
We’ve all heard how important location is in real estate investing. How many times have you heard, “It’s all about the location? Location, location, location.”
Well, I’m here to tell you it’s not about location, its about motivation.So say after me, “motivation, motivation, motivation.”
No matter your experience level in real estate investing, the fundamentals are the same for all of us.
Buy the best available property at the lowest possible price.Â
How can one do this every single time you might be wondering? I thought you would never ask.
In order for the savvy real estate investor to buy investment property at a deep discount regularly, he or she must look for people who have compelling reasons to sell. What do I mean by compelling?
These homeowners have to sell the property or risk losing it to the bank or lien holder.
So instead of focusing on great property locations, start searching out sellers with big problems to solve? Help these homeowners out first and you will end up with the investment property.
What kind of seller situations do experienced real estate investors always look for?
1. Divorce
Divorce is a fact of life and sadly it affects many of us.This situation causes many homeowners to fall behind on the mortgage. The mistake so many married couples make is buying a house based on both incomes (husband and wife). So in order to pay the mortgage, both incomes are needed.Guess what happens when the income is split in half?
2. Unexpected Job Loss
In today’s economy, job loss is a bigger factor than in years past.So when someone loses their main source of income, everything else is affected. The house is the first thing to go.When the money stops coming in, foreclosure is usually close behind.
3. Prolonged Illness
It’s never a good time to come down with a major illness. And it’s really never good for the primary bread winner to go down with an extended illness. Cancer, heart disease, and a vast array of disabling diseases can hit at any age.If a seller is underinsured and doesn’t have disability insurance, he or she will not be able to pay the bills
 Any remaining money quickly goes to paying the medical bills.
4. Job Transfer
Sometimes that great job opportunity comes with a price.For example, Bob living in Houston, Texas finally gets that big break.This new job opportunity will require him to move to Atlanta.Bob accepts the new position and moves to Georgia without first selling his house in Houston.
The mistake Bob makes is buying a new house in Atanta.The two house house payments end up crushing Bob and this new opportunity suddenly sinks him.Poor little Bobby.
5. Drug and/or alcohol addiction
When you’re high on drugs or drunk all the time, it’s kind of hard to remain productive.When someone is foolish enough to let this disease into his or her life, everything comes tumbling down.Â
When buying investment properites, search out these particular seller situations.When a seller cannot solve their house problem, come to the rescue and offer a good solution.Help others first and you will be rewarded.
Look for these seller situations in your future real estate investing efforts and you will be handsomely rewarded. I promise.
Etiketler: buying investment property, foreclosure investing, income property, pre-foreclosure, pre-foreclosure investing
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