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by Charles W.
Moore
Investing in real estate requires making
good choices and obtaining good deals. In order
to do so, it is essential that you find and work
with only motivated sellers who are willing to
sell based on your terms. Therefore, you must be
able to identify a motivated seller
immediately.
As a creative real estate investor, it is
essential that you expend only the money
necessary to invest in real estate property, and
that means finding good deals and working with
individuals who will agree to your terms.
Finding motivated sellers is crucial to
your success in this matter, since a motivated
seller will be less demanding and more likely to
conform to your less than traditional methods of
purchasing the home. How can you identify a
motivated seller from the average individual
looking to sell a home?
First
of all, avoid any homes that are being sold
through a real estate agency. Individuals
who are paying a real estate agency
commission to sell their home and are
demanding a certain price through the agent
are not motivated sellers. Rather, look for
homes that are for sale by owner. Many of
these individuals have either already tried
selling through an agent and failed or
cannot afford the fees involved in hiring
one and need to sell quickly for the best
possible price. They will be more likely to
work with you on the terms you put forth.
Don’t look for houses in bad markets or old
houses; chances are, these sellers want to
move out of a less than savory neighborhood
or have damage to the home that would
require costly repairs. These are not the
type of investment homes that you want, and
these are really not motivated sellers. The
reasons behind a sale by a motivated seller
vary, but most have to get out from under a
mortgage on a newer home in a nice
neighborhood and have little or no equity in
their home with which to work.
The best way to determine if you have a
motivated seller is simply to ask. When you
go to view a home that is for sale by owner,
have them give you a tour of the house and
ask the simple but pleasant question, “Why
are you selling such a lovely house?” The
response will tell you whether or not the
person is a motivated seller. Perhaps they
are behind on their taxes and need to sell
to try to catch up. Maybe they have large
medical bills from an accident or illness
and need to start over with something less
expensive in order to work in that bill.
Often, you’ll find someone in the middle of
a divorce who wants the house taken off
their hands at the lowest possible cost so
that they can end the proceedings quickly.
These are by far not the only reasons a
motivated seller looks to sell
their real estate property. But as a savvy
creative real estate investor, you can see
what types of problems can motivate a person
to sell their home and work with you on a
lease purchase option. Your job as the
investor is to also investigate and find out
why they are motivated so that you can be
clear on how well you’ll be able to
influence them to work with you on a
creative financial option that will release
them from their obligation as the homeowner,
allow you to invest for hardly any money up
front, and get a tenant-buyer into the house
quickly so that you help another individual
get a fresh start while you begin profiting.
ABOUT THE AUTHOR:
Charles
W. Moore is a U.S. Army Veteran who began
investing in Real Estate in 2001. He's a
Full-Time Investor, Webmaster, Speaker, and
Author of the book, "Million Dollar Rent To
Own Real Estate Secrets Exposed." Get a Free
Report on
Rent To Own Real Estate Investing from
Charles at:
http://www.Rent2OwnExposed.com and learn
more about Real Estate Investing, Investing
in Stocks and Internet Marketing by
visiting:
http://www.REIeBooks.com
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