Property Investing Secrets 8
Property Investing: A Buyer's Secret Weapon When Purchasing Real Estate
My friend, Roger, does property investing and is a licensed real estate agent. Recently he looked at a property in another state that was probably worth $225,000.
After some rapport building, the agent told him that he may be able to purchase the property for around $200,000. Roger loves property investing and he follows fundamental rules like doing his home work. He still thought the property was expensive and did not pursue it further. About a month later, Roger received a call from the real estate agent.
The agent said that the seller would probably now accept about $180,000. The agent explained that the seller had paid about $180,000 for the property eight years earlier and he just wanted to get his money back. Roger was surprized that the seller had not factored in costs of ownership.
It also happened to be April Fool's day and Roger sometimes he has an off beat sense of humour about property investing. He said to the agent, look tell the seller I'll pay $150,000. Roger also said he would sign a contract now and fax it to the agent immediately. After that was done the real estate agent rang him back the next day and said, "I can't believe it....you've bought the thing. Had I known he would have taken that price I would have bought it myself!"
There are a couple of lessons in this example. First do your homework when you're property investing. That means you know where bottom of the market it is-before you meet the real estate agent. Secondly, do some rapport building with an agent. Now some of you may be wondering how Roger could make an offer of $150,000 to the agent. Roger presented himself as a serious buyer.
Roger's secret weapon was that he didn't care whether he purchased the property or not. In fact when property investing he never gets emotionally involved. He told me he'll make an offer on a property, not caring whether he owns the real estate. This is a secret weapon of many accomplished property investors-thought at times it can be difficult to put in practice.
I've found when property investing that if a seller wants to sell to me today, when I make an offer it's the best I can do on that day. Just as Roger's best offer was $150,000. More often then not, this strategy will enable you to purchase property at a discount. Bottom line it's important not to get emotionally attached and chase real estate.
Rick Otton is the director of We Buy Houses Pty Ltd. He has been property investing full time for 14 years. Rick has completed over 351 property transactions in Australia and the United States.
Rick specialises in creating positive cash flow through a variety of strategies he perfected in the United States and adapted to Australian conditions. He sells home study courses on vendor finance, one year mentoring program as well as a yearly 3 day boot camp on the Gold Coast. Go to http://www.rickotton.com for more property investing information ring 1800 003 588 in Australia.
Related Articles:
Divorce & Marital Property
In any divorce case, there is usually a division of assets and a determination of each person's responsibility for debts.
LoveAlicante.com Website Launched for Tourist Information and Guides to Car Hire, Cheap Flights and Property in Alicante - Spain
LoveAlicante.com is a new, helpful, online travel and business resource website for the Alicante region of Costa Blanca in Spain. Aimed at tourists, businesses, property & real estate investors and also people looking for relocation to the Alicante region, the Love Alicante website aims to provide a useful resource and guide to the area, as well as offering businesses in the Alicante region a free listing in the Directory to help promote their products or services.
Hawaii Vacation Rentals And Hawaii Activities: The Importance Of Making A Connection
If you would like to travel to Hawaii, there is a good chance that you have a reason for wanting to do so. For example, would you like to take in the beauty and great history that Hawaii has to offer? Would you like to learn how to surf or participate in another one of the many popular Hawaii activities? If so, you should know the importance of making a connection between Hawaii activities and Hawaii vacation rentals.
Creative Real Estate Marketing Transforms Property Address to Website Address
WebSmart Homes announced today the launch of a new real estate marketing product called SmartAddress™. This product allows real estate professionals to differentiate themselves from their competition while providing their customers an upscale solution at a low-cost to better market their property. The announcement was made by company president Joseph Sleeman.
Peru-Lima, Miraflores Vacation Rentals Deals
Miraflores is the turistic district of Lima. The main hotels are located in this nice city by the Pacific ocean.
Moon Property: The Mother's Day Gift That's Out of this World
For those who can't decide what to give Mom this Mother's Day, a leading advocate for lunar exploration and settlement believes an acre of land on the moon might fit the bill.
Uk Property Predictions - Learn Where The Market Is Heading In 2008
Do you want to know what is going to happen in the UK property market in 2008
This UK property predictions article endeavors to give you an insight into what is potentially in store for property investors and homeowners in 2008
Vacation rentals all over the world
Which is the number one rule that we all obey, actually pretty enthusiastically, when we finally reach that period of the year when vacation comfortably settles in or when some blessed holiday gives us the occasion to relax for a short while? That rule tells us something which, rephrased, sounds like this: do it, but only do it as long as you have fun. In other words, with vacation knocking at your door, we can only think one thing: ?I surely deserve some quality spare time which I can spend together with my family.? So why not spoil yourself with the relaxed, secure and comfortable experience of vacation rentals?
CitiApartments Awarded Best Property Management Company
San Francisco Apartment Association Banquet Recognizes the Best and Brightest
What To Do When You Want To Sell Your Sarasota Residential Real Estate Property
There might come a time in your life that you want to move to a new location, whether for business, career change, or to address a new lifestyle. Since its impossible to bring your Sarasota home with you to your new home, then the best thing to do is to sell it out to add to your finances.