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1. Cash Offers: You get more acceptance from cash offers than any other deal. Why? Everyone selling something wants cash, it's simply preferred! If you find a house that meets sound rental criteria and is priced by the owner, it is usually 25% overpriced. Emotion plays a big role in owner pricing. Offer 25% less in cash! Remember, 6% of the sellers are highly motivated. You may have to offer cash on 20 houses before you make a deal, but it will happen! 2. Fixer Uppers: A great housing bargain for investors. Why? The seller is motivated to get rid of the property. YOU can tell this because he hasn't fixed up the property. Remember, The fixer upper house lends itself to seller financing. Make this deal - offer a 10% discounted cash price with a 180 day right to improve the property. Once the property is fixed up; get an honest bank appraisal; secure the loan from the bank; and pay off the seller. 3. Duplexes: These are the best buys for cash flow and management of tenants. Why? Duplexes yield higher per unit income and lend themselves to HUD housing programs. Quite important if you want HUD to pay the utilities and insurance and guarantee the loan at your local bank! Remember, the government is always modifying or creating new subsidy programs for "landlords" such as bonus income for single mothers with children. 4. Lease/Options: A preferred method of acquisition of housing by investors. Why? You can tryout the property before you buy. You are buying time which allows for true negotiation with banks or private lenders. Lease/Option agreements usually favor the buyer and have the effect of motivating the seller to close. Remember, after a suitable time for a lease, you can always bring cash to the table for a discounted title closing. |
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HOME PORT - www.gamesbygrube.com |
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ATTENTION PROPERTY OWNERS - real estate fsbos |
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INVESTOR - a game for first time real estate investors |
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CREATIVE REAL ESTATE ONLINE - www.creonline.com |
| "Before retiring, buy three duplexes. Live in one unit and rent the others. If you want more income, buy another duplex." Carlton Sheets |