You need to create the good deals for yourself. Instead of looking for the same simple little house that everyone else in the marketplace also wants, try to find a property or a seller that stands out from the rest. You want to focus on properties that that you can inject yourself into create value. No one else is going to do this for you. It is not your agent’s job to do this. It’s your job…..okay?
These situations include any number of different types of properties or sellers. You may find a seller:
-with several (or many) separate houses to sell; a property with a group of individual cottages on it; an unfinished house and a separate unit; a house and a separate building that could be converted to another unit.
-a seller that is having financial difficulties.
-a seller that is determined to get his high asking price but may be flexible on the terms.
-a seller, that because of tax consequences, does not want all cash out of the deal; a property that has houses with obsolete old wood foundations.
-a seller that is overwhelmed with bad tenants and management headaches; or multiple owners of a property that dislike each other (divorce or a bad partnership).
-a seller that just can’t sell his property because of some major physical flaw.
In a slow market, these types of properties may be on the market longer than usual. In a hot market, they may be on the market a LITTLE LONGER than everything else that is selling quickly. YOU WANT SOME BREATHING ROOM TO MAKE THE DEAL HAPPEN. I like to purchase properties where price is not the primary reason for selling.CLICK FOR BOOK DETAILS