Can you find me some bargain real estate? First one must define the word bargain as it pertains to their idea of the properties they want to add to their portfolio.
Even though it appears simple enough to determine or define, it really is different to various personalities.
Here are some rules to follow when looking for "your bargain".
1.
Keep unattached to whatever dwellings you preview or tour.
Money has no emotions and therefore when you are looking for something to buy and you want to buy it under market value, allowing yourself to become emotionally attached will lessen your chances of success.
Your job as an investor is to seek out a bargain now and a property that will continue to go up in the future.
Even in a hot market there will always be opportunities.
The ideal situation is to find an emotional seller.
Yes, that is right.
The exact opposite of what you are not, as a buyer/investor.
Many situations cause emotional distress with Sellers.
An example which is very common these days is "divorce".
2.
Play the numbers game.
Who cares if you have to go through a hundred Offers before the right purchase becomes a reality.
If your agent becomes frustrated and gives up, just move on to the next one.
Check the papers for more listings or stay loyal to the agents who are loyal to you and work, work, work.
The more no answers you get, the closer you are to a yes.
3.
Never quit, ever! Herein is the truth of success versus failure.
The exception is if you decide to pursue a different road to your goals.
You did not quit did you? Failure is giving up on a dream caused by a few obstacles.
The greatest successes were a direct result of overcoming the greatest obstacles.
Keep making those Offers! Bargain real estate means getting a price steal to most people.
This is not the only meaning.
If you buy a house today and it doubles in value in 10 years, was it a bargain when you bought it? What about an income producing property? If your rate of return 10%, is that a bargain? Consider this as well...
land bought today at market value which has a highest and best use that when utilized..
I think you are starting to get my point.
Through time, I believe all real estate becomes bargain real estate.
Whatever your plans are, these 3 rules should help put a smile on your face.
Good luck.
Even though it appears simple enough to determine or define, it really is different to various personalities.
Here are some rules to follow when looking for "your bargain".
1.
Keep unattached to whatever dwellings you preview or tour.
Money has no emotions and therefore when you are looking for something to buy and you want to buy it under market value, allowing yourself to become emotionally attached will lessen your chances of success.
Your job as an investor is to seek out a bargain now and a property that will continue to go up in the future.
Even in a hot market there will always be opportunities.
The ideal situation is to find an emotional seller.
Yes, that is right.
The exact opposite of what you are not, as a buyer/investor.
Many situations cause emotional distress with Sellers.
An example which is very common these days is "divorce".
2.
Play the numbers game.
Who cares if you have to go through a hundred Offers before the right purchase becomes a reality.
If your agent becomes frustrated and gives up, just move on to the next one.
Check the papers for more listings or stay loyal to the agents who are loyal to you and work, work, work.
The more no answers you get, the closer you are to a yes.
3.
Never quit, ever! Herein is the truth of success versus failure.
The exception is if you decide to pursue a different road to your goals.
You did not quit did you? Failure is giving up on a dream caused by a few obstacles.
The greatest successes were a direct result of overcoming the greatest obstacles.
Keep making those Offers! Bargain real estate means getting a price steal to most people.
This is not the only meaning.
If you buy a house today and it doubles in value in 10 years, was it a bargain when you bought it? What about an income producing property? If your rate of return 10%, is that a bargain? Consider this as well...
land bought today at market value which has a highest and best use that when utilized..
I think you are starting to get my point.
Through time, I believe all real estate becomes bargain real estate.
Whatever your plans are, these 3 rules should help put a smile on your face.
Good luck.
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