As a real estate investor, I’m always on the lookout for underpriced properties. It’s one of the best ways I’ve found to ensure I make money on my real estate deals. When I can buy a property for less than what I believe it to be worth, that allows me more flexibility in what I do with it. I may be able to rent it for a positive cash flow, or I may be able to quickly rehab it and flip it for a profit. The key though, is in finding these underpriced gems, which is not always easy.
One method I’ve used successfully is to concentrate on finding distressed properties and motivated sellers. A distressed property is one in which the owner is close to losing the property, or is otherwise unable to maintain it. This can make for a very motivated seller. The idea when you do find a situation like this is to help the owner solve his problem. This can mean a short sale, or it can involve aquit claim or “subject to” sale. But what it means to you is getting a property for less than what it is worth.
So how do we find distressed properties and motivated sellers? Let me tell you about the 5 ways that I know work:
Whatever methods work for you, remember to treat the owners of distressed properties with respect. They are likely going through a hard time and you may be their last hope. Try to structure any deal like this as a win-win. Solve their problem and you’ll both likely come out ahead.
For more information on how you can escape the rat race for good and create lasting, generational wealth with real estate, download my FREE e-book, “How to Find Underpriced Properties: Secrets for Creating Wealth with Real Estate in ANY Economy.” Get your copy at: http://StreetWisePropertyInvesting.com/Ebook
Join Andrew J. Werner and his epic advisor panel at the must-attend mastermind event of the year --- epic live