How To Find Good Deals In Real Estate
A thriving real estate investor or retailer solves a lot of other people's problems; that's how you become successful
. The more knowledge, ability, experience, contacts, and resources you have, the more solutions you can begin to offer people in solving their problems.
In addition to this, you will be ahead of the pack if you can get people calling or coming to you with their specific problem first. That means you have to advertise the fact that you are in a position to help while being fair, trustworthy, and accurate in making quick decisions before the competition tries to persuade these people first.
For the above reason alone - competition - you will need to understand marketing. That means deciding on what you are going to specialize in, developing a method to define your target audience, and then attracting them with a well-written message using the different types of media to get the word out.
If you are interesting in finding good deals in real estate, here are some secrets which will help you to save money and become a professional real estate investor in this tricky ever-changing business. First, look at bulletin boards, local papers and small independent publications.
This goes for every publication you get. Make sure you get one of the first copies off the press-go to the facility that houses the presses and get your copy before the ink has a chance to dry.
Better yet, advertise yourself and get people who are thinking about selling to call you before they actually tell the world through an ad. Look at the legal section of the newspapers.
Contact heirs and attorneys, and sales in the garage or estate sale sections. Also, twenty percent of people who have garage sales are planning on moving soon.
Ask about their house or their neighbor's homes. Your odds of success increase when you choose large population centers and remain in the market constantly on the lookout for your type of deal.
Look for vacant houses that are run down, fire damaged, or abandoned, with city notices evident. Talk to the neighbors of these homes-they usually know who owns it and what is going on.
They have an interest in seeing it restored to beauty. Walk up to a property and look in a window to confirm that it is indeed vacant-but don't endanger yourself-always use common sense.
Watch the local paper for foreclosure auctions, tax sales, and HUD and VA listed properties. Auctions held in bad weather where the property absolutely must be sold are your best chance to limit competition and get property at rock-bottom prices.
Don't be so selective. If the property is an absolute steal, lock it up and sell it to somebody who does like to work with that type of real estate.
Get the option and hand it off to another buyer. Look for distressed sellers in addition to distressed property.
Post fliers everywhere-colleges, Laundromats, shopping centers, bowling alleys, public bulletin boards, churches, local businesses, wherever large numbers of people congregate. Give them a chance to give you a lead on a hot deal.
Join organizations of all types. There are so many-just pick the ones that you would be interested in truly being a member in and let it be known you pay bounties for consummated (closed) deals.
When you use headhunters, leave out no one. Property managers, moving companies, relocation services, neighbors, landlords, tenants, the mailman, the paper boy, gardeners, landscapers, service technicians, pest control people, friends, acquaintances, relatives, and other investors.
Everyone should know they can make five hundred dollars if you end up buying a property they tell you about. Give each of your soldier's stacks of your cards for exponential growth.
Another thing to note is that water, gas, and electric company personnel who shut off utility meters can be very good bird dogs when it comes to finding property that is in trouble or vacant. Make sure they have your cards.
Last, have at least ten thousand business cards printed with your offer of the five hundred dollar bounty and hand them out in stacks to everyone you can. As you grow, you might consider TV, radio, phone books, billboards, street benches, bumper stickers, and bigger commissions.
As you can see, there are so many tricks of the trade which you can learn and apply if you are looking to become more business savvy, and well known. Follow your instincts, and don't be afraid to take risks and get yourself out there.
by: Tommy Greene
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