1. Motivation, Motivation, Motivation
When it comes to investing in real estate, we've all heard how important a good location is when deciding to purchase an investment property. 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 repeat 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 and the best price.
How can someone repeat this over and over again? I thought you'd never ask.
In order for the savvy pre-foreclosure 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 having a compelling reason to sell?
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 signs do experienced income property investors look for?
1. Divorce
Divorce is a major factor in our society and sadly affects many of us.This situation causes many homeowners to fall behind on the mortgage payment.A big mistake married couples make (over and over again) is to buy a house based on both incomes. So in order to pay the mortgage, both incomes are needed.Guess what happens when one of those incomes disappears?
2. Unexpected Job Loss
In our current economy, job loss plays a major role in the real estate investing market. So when someone losses their primary source of income, it affects everything in that person's life. The house is the first thing to go.When the money stops, foreclosure usually follows.
3. Extended illness or sickness
It's never good for anybody involved for someone to get sick like this.It's never good when the primary income earner comes down with an extended illness.Cancer and a multitude of other major health problems can hit us at any time or stage in life.If the seller doesn't have disability insurance, he or she cannot pay the bills
Any remaining money would go directly to pay the medical bills.
4. Job Transfer
Sometimes that great job opportunity comes with a price.For example, Bob who now lives in Houston and finally gets his big break.The new job requires him to relocate to Atlanta. Bob happily accepts the new job and moves to The Peach State without first selling his house in Houston.
The mistake Bob makes is buying a new house in Atanta. The two payments crush Bob and this so called "new opportunity" suddenly sinks him.Poor old Bob.
5. Drug and alcohol abuse
When you abuse drugs and/or alcohol, you're not normally very productive.When someone let's this sickness in, it's all down hill from there.
So when it comes to buying investment property, look for and monitor these particular seller situations.When a homeowner cannot solve their problem with the house, come to their aid and bail them out.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.
When it comes to investing in real estate, we've all heard how important a good location is when deciding to purchase an investment property. 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 repeat 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 and the best price.
How can someone repeat this over and over again? I thought you'd never ask.
In order for the savvy pre-foreclosure 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 having a compelling reason to sell?
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 signs do experienced income property investors look for?
1. Divorce
Divorce is a major factor in our society and sadly affects many of us.This situation causes many homeowners to fall behind on the mortgage payment.A big mistake married couples make (over and over again) is to buy a house based on both incomes. So in order to pay the mortgage, both incomes are needed.Guess what happens when one of those incomes disappears?
2. Unexpected Job Loss
In our current economy, job loss plays a major role in the real estate investing market. So when someone losses their primary source of income, it affects everything in that person's life. The house is the first thing to go.When the money stops, foreclosure usually follows.
3. Extended illness or sickness
It's never good for anybody involved for someone to get sick like this.It's never good when the primary income earner comes down with an extended illness.Cancer and a multitude of other major health problems can hit us at any time or stage in life.If the seller doesn't have disability insurance, he or she cannot pay the bills
Any remaining money would go directly to pay the medical bills.
4. Job Transfer
Sometimes that great job opportunity comes with a price.For example, Bob who now lives in Houston and finally gets his big break.The new job requires him to relocate to Atlanta. Bob happily accepts the new job and moves to The Peach State without first selling his house in Houston.
The mistake Bob makes is buying a new house in Atanta. The two payments crush Bob and this so called "new opportunity" suddenly sinks him.Poor old Bob.
5. Drug and alcohol abuse
When you abuse drugs and/or alcohol, you're not normally very productive.When someone let's this sickness in, it's all down hill from there.
So when it comes to buying investment property, look for and monitor these particular seller situations.When a homeowner cannot solve their problem with the house, come to their aid and bail them out.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.
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