Real Estate Investor – 5 Tips That Can Help You Pay 70% (or Less) of the Initial Asking Price

If you are serious about becoming a  full time real estate investor, you need to be certain that you buy properties at a discount. Some folks think they are getting a great deal, when in reality they are buying a property for the current market value.

Too many investors base their numbers on what is for sale or the assessed value when the only number that matters is what has sold in the area.

If you are going to make any money in this business you need to buy properties at a discount, which means at maximum 70% of the after repair value.

I am going to give you  5 Tips That Can Help You Pay 70% (or Less) of the Initial Asking Price if you are a serious Real Estate Investor

There are many different ways to buy houses for 70% or less of the initial asking price. There are many tips when negotiating the price of a property some of the most effective ways to buy a house at a discount is the following.
Look for those properties that have been on the market for over 120 days, these folks are usually motivated to sell. Search for keywords on the MLS, such as motivated seller, TLC, Fixer upper and handyman special as these folks will be willing to negotiate.

Find out what is important to seller and include that in your offer sheet, for example if timing is important to them than make sure to include either fast closing or vice versa on terms of contract.

Never chase a deal, find an agent that is not afraid to make offers and is not hesitant to make a low ball offer – what is worst thing that can happen, the seller rejects your offer – who cares.

My last and most important tip is to stick to your formula and your market, never stray from what works and never chase a property, there will be many more out there.

Patience is the key to the game in real estate. If I make 20 offers, I’ll be lucky if one gets accepted. It is important to not get upset or frustrated and to trust your system no matter what, folks get in trouble when they feel like they have to buy because it is usually then when they make a big mistake. Make a lot of offers, stay true to your approach and don’t waver and I assure you will find some great discounted deals.

Also, you could use a real estate leading generating system that puts together motivated sellers and buyers/investors and does a lot of work for you and help you become a way better real estate investor.

Check this free 30 minutes webinar to find out more.