If you're looking into buying investment properties, please leave your emotions out of it.
Too many people harbor a wild dream of owning tens or hundreds of properties.
Our forefathers instilled in us a deep association between success and property ownership.
Times change.
If you're not buying investment properties the smart way, before long, you'll find that they feel a lot more like an encumbrance and a liability than a source of accomplishment.
That being said, if you're smart about it, owning property can be a great investment.
The best properties to own are those than you can easily sell.
Most all properties are easily sellable if you're willing to sell for low enough a price, so the goal should be buying investment properties for a small enough amount, that even if you have to sell at a steep, steep discount, you still make money.
The best way to do this is to buy tax foreclosure property - but not the traditional way.
Tax sales are crowded with new investors and it's virtually impossible to get a good deal on anything there anymore.
But if you wait until after the tax sale and approach the owners directly during the last few months they have before final foreclosure, you'll find most owners who haven't been able to bail themselves out are now willing to deal - and for almost anything.
Buying investment properties during this time period for under $1000 is the rule, not the exception.
Most investors don't realize they can do this - not yet - and you'll find you don't have much, if any, competition.
If you're willing to do some fancy footwork, you can deal with owners to cut them in for a percentage of the proceeds for whatever you can get for their property - leaving you free to sell for a price that will attract an immediate buyer, and allow you to walk away from the closing with thousands of dollars in your pocket, with practically no initial investment.
If buying investment properties with the intention of holding them is your aim, this method also works quite well to that end.
These tax delinquent owners are desperate to sell in the final months, and will be willing to make deals unheard of at any other point in the process when they're about to lose everything.
Too many people harbor a wild dream of owning tens or hundreds of properties.
Our forefathers instilled in us a deep association between success and property ownership.
Times change.
If you're not buying investment properties the smart way, before long, you'll find that they feel a lot more like an encumbrance and a liability than a source of accomplishment.
That being said, if you're smart about it, owning property can be a great investment.
The best properties to own are those than you can easily sell.
Most all properties are easily sellable if you're willing to sell for low enough a price, so the goal should be buying investment properties for a small enough amount, that even if you have to sell at a steep, steep discount, you still make money.
The best way to do this is to buy tax foreclosure property - but not the traditional way.
Tax sales are crowded with new investors and it's virtually impossible to get a good deal on anything there anymore.
But if you wait until after the tax sale and approach the owners directly during the last few months they have before final foreclosure, you'll find most owners who haven't been able to bail themselves out are now willing to deal - and for almost anything.
Buying investment properties during this time period for under $1000 is the rule, not the exception.
Most investors don't realize they can do this - not yet - and you'll find you don't have much, if any, competition.
If you're willing to do some fancy footwork, you can deal with owners to cut them in for a percentage of the proceeds for whatever you can get for their property - leaving you free to sell for a price that will attract an immediate buyer, and allow you to walk away from the closing with thousands of dollars in your pocket, with practically no initial investment.
If buying investment properties with the intention of holding them is your aim, this method also works quite well to that end.
These tax delinquent owners are desperate to sell in the final months, and will be willing to make deals unheard of at any other point in the process when they're about to lose everything.
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