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Property Investing Secrets 6
Property Investing Secrets:
What No One Ever Tells You-How Real Estate Agents Size Up Buyers
Here is the most important rule you must know about property investing: present yourself with confidence to the real estate agent. If you're property investing and trying to buy your first property and you have never really dealt with a real estate agent, you're probably not going to get a bargain. Most likely later, after you've made offers and gotten them accepted, will you then get better deals.
You see, the first time up you're going to have to sound the agent out and see how much experience they have. If you're dealing with the young pup in the office that has only been in the business 3 or 4 months, you don't need to know a lot. You can probably even bluff them. But if you're dealing with the principal, the owner of the business, who has been around for 20 years, they're going to know that you're not experienced property investing or more importantly that you've never bought in their area and then it becomes a real matter of brinkmanship with the real estate agent.
When property investing, you must convince the real estate agent that you're serious. You can say, "Look I'm only in town for a couple of days." (Even if you live locally, have flown in or driven from out of town.) "I've got to make a decision in a couple of days. I'm looking at a property in the $250,000-$290,000 price bracket."
If you say, "I just want to buy a house, I don't care where it is and I want a bargain." The agent thinks this buyer has no idea. But the wise person who is property investing will say. "I want to buy in this price range, I want this rent and I want the property in this particular area." The real estate agent will think, okay this buyer has done their homework. They know what they're looking for. You can also say, "Look, I don't pay full retail price, I expect a bit of a discount. What is the best property you've got that fits my criteria in that area?"
I've found when property investing, the more confident and specific you can be with a real estate agent by telling them what you're looking for, the more the agent will give you credibility as having done your research and not wasting their time.
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.
Land Subdivision - $1.2 Billion Dollar Developer Tells You How To Do It
Land subdivision is a bit like helping Mom slice up her beautiful Apple Pie; it's all so easy, when, like Mom, you've done it a few times. So let's see if we can get the ingredients for a land subdivision correct so you can do it right first time, OK?Every city or town in the free world has a Town Plan and it comprises, not surprisingly, of plans or maps, usually with lots of different colors all over them, but also lots of words explaining what the colors mean as well as lots of Rules that tell you what you can do with land.
Fraud in Real Estate, Are You Being Victimized? - Part II
The phone range and Peter was on the other end of the line. "Willard, I have a friend of mine that has a real estate problem.
Tax Assessment/Appraisal: How Do I Know What My Home is Worth?
If you are in the home buying or selling market, it's important to understand the difference between tax assessment and appraisal value. Concentrate on the appraisal value because this determines your asking price.
The Value of Building Home Equity
There are numerous advantages to owning a home. One of the serious advantages is the equity that is built over time.
Law & Logic of Homeowner Association Capital Reserves
In October 1999, Oregon was one of the first states that enacted a significant improvement to its Condominium and Planned Community regarding capital reserve planning, a process by which homeowner associations plan and fund future repairs and replacements. For many associations, the process became mandatory although there was an "escape clause" for pre-October 99 Oregon communities.
An Ideal Way to Purchase Your New Home without Strict Banking Regulations
You've searched high and low around town looking for that special home for you and your family. Everyone agrees that "this is the one"! Your down payment for the home is large enough, but you know your credit is terrible, or worse, practically non-existent.
5 Rock-Solid Real Estate Investment Strategies
Investing in real estate is more complex than simply buying and selling homes. To help new real estate investors to decide which strategy might work for them I put together 5 rock-solid strategies.
10 Easy but Essential Steps for Home Selling Success
They say that the whole process of selling up, buying new and moving on is one of the most stressful series of events any of us goes through in a lifetime: and yet with careful planning, attention to detail and a clear focus, the whole process can be relatively stress free.While there will always be factors outside the control of any home seller, those factors that fall within their control sphere can proceed fluidly and smoothly when they take the time to plan and think one step ahead.
Sell Your California Home For Top Dollar
HOW TO SELL YOUR HOME FOR TOP DOLLAR1. Make your home look like a model - even if it isn't.
Hurricane Katrina And The Impact On Real Estate Prices
In the wake of Hurricane Katrina's wide path of destruction, the real estate market will be affected perhaps in ways not fully understood or expected. If recent hurricane recovery history holds true there will be several good things to come out of all destruction.
Practical Advice for Finding Irish Castles for Sale
Have you ever wondered what it would be like to live in a castle?Have you ever dreamed of dancing in a grand ballroom that at one time was filled with princes and other nobility?If you find yourself dreaming of this lifestyle, you're not alone. Celtic castles, and all things medieval for that matter, have gotten very popular in recent years.
Home Inspection Checklist - Home Inspectors
Although architectural details, wall and floor coverings, modern conveniences and many other factors are important in the buying decision, the focus of this inspection is on the structural/mechanical/electrical condition of the property.The inspection is designed to give the real estate agent or prospective purchaser a system to detect some of the readily accessible major flaws or deficiencies in the significant components and systems of a home.
Sell your Property Faster
Learn how to sell your property faster and at the best possible price. Selling your property quickly and at the highest price is the target for everyone looking to move.
Condo-Hotels - A New Second-Home Alternative to Time Shares
Condo-hotels have evolved as a better, more reliable second home alternative to time-shares. They are usually attractive, high-rise hotels on the ocean or in other prime locations, and range in price from the mid $200,000s to over 1 million, depending on the size, location, and amenities.
Real Estate Investment - One Simple Formula
I saw the ads in our small-town newspaper for years before I realized exactly what was going on. They were always the same: A house for sale with 5% down and payments of 1% of the purchase price.
Using Transformation Psychology to Sell Investment Properties
Satisfying and lucrative real estate investment depends upon your correct assessment of profit potential, of course, but your ultimate success depends on your ability to transform a doghouse into a dollhouse. The renovation process involves physical work and choosing the best supplies, in order to create maximum positive emotional effect and profits.
Using The Internet In Your Lease Purchase Business
First you need to find a list of For Sale By Owner Sites. You do this by going to one of the major search engines.
Donald Trump on Real Estate
I love what Trump says about the business of real estate.I am a big believer in setting up business systems for all my clients.
Take A Shotgun Approach
An effective real estate advertising strategy entails a 'shotgun' approach. A shotgun approach includes online internet ads, regular print ads in major real estate publications (AJC) of the property's location, as well as popular local area publications (Creative Loafing) and full use of real estate signs.
Make Money With Room Rentals
I don't know why I didn't do it sooner, but one day many years ago, I decided to try renting rooms in my home. I was young and single, and had a nice mobile home on small piece of property.
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