By: Trace Trajano
The worst way for you to convince an owner of a "no money down" offer is by saying the words "I will make you a 'no money down' offer." That just won't work because it's ridiculous. It's as ridiculous as approaching a girl for the first time and asking her "Will you marry me?"
In this email I will reveal how you can make a "no money down" offer to a seller and he will thank you for it.
Well before I reveal to you the sec.ret, let me just preface this by saying that...a 'no money down' offer won't work for all sellers. It will only work for a motivated seller. A motivated seller is a seller who needs to sell his property. A motivated seller is desperate for a solution to his real estate problems.
An example of a motivated seller is a seller who needs to go abroad for a job immediately. His choices are very limited. He either loses his opportunity to go abroad or makes money with his property. Chances are good he would rather breakeven or even lose money with his property rather than lose a job opportunity. If you can come in and solve the seller's dilemma, you can buy his property with 'no money down'. You can make him an offer like this: "What if I take over your mortgage payment so you don't have to worry about it?" Notice, you did not offer a downpayment - hence, it's a "no money down" deal to you and it's a good deal for the seller. Of course before you make this offer, you have to be able to follow through with it in case the seller says "yes".
In my last real estate seminar, I will reveal different ways to acquire properties with 'no money down' or 'no money out' - and more importantly, how you can make money with it.
Dedicated to your success,
Trace
P.S. I will cover "taking over the mortgage payment" and other "no money down" techniques in just one of the 4 modules or mini-seminars (4 hours of content-rich seminar) in my last TRQ Seminar. C.lick H.ERE to learn how to acquire properties with "no money down" and more importantly, how to make money from it.
DISCLAIMER: the above email does not represent legal, investment, real estate or financial advice. Consult your licensed professionals before investing.
Thursday, August 4, 2011
Tuesday, August 2, 2011
6 Sources of Undervalued Real Estate
By Ronald Cagape
Profit is made when you buy. If you buy at the right price, you will have room to sell quickly at still a good price. If you buy too high, you can be stuck with an overpriced turkey.
Under normal circumstances, real estate is bought at market value. Market value is the price that a willing buyer and willingseller meet. Both parties are under no undue pressure to buy or sell.
As an investor, you’d rather be in abnormal circumstances. When buying, you’d rather deal with a motivated seller, someone who needed to sell yesterday.
Examples of motivated sellers are those under foreclosure, moving to another country in 2 weeks or undergoing a critical operation.
Sometimes, a seller may not be motivated but they have an incorrect assessment of the current market value. Maybe their old or they inherited the property and would just like to convert it to cash.
So, where do you find these good deals? Here are 6 sources for you to look at.
Online Ads – as more and more people get access to the internet, you’ll find more and more amateur sellers try to market their property themselves. They would go on online classifieds such as Sulit, AyosDito or OLX. You have to look at the online classifieds regularly because you don’t know when a bargain comes up.
Newspaper Ads – Manila Bulletin and Buy and Sell are the two common media that motivated sellers advertise on. The motivated ones usually just post 1 or 2 line ads because they are budgeting their money so you may not see the keywords that flag them as motivated. Call them anyway if they are in your target area.
Foreclosure Lists – although banks are not as motivated now as before, you may still catch them sleeping on the job. Many banks, especially those that acquire other banks, can still make mistakes in getting the value of non-performing assets. Note that banks are not property investors so try as they may to sell properties at market value, there’s still 1 or 2 that can be acquired at a bargain.
Property Auctions – auction houses also sell bank foreclosed assets so similar to #3, you can find good deals in these auctions.
Your Neighborhood – not all sellers advertise, especially those that are under foreclosure and don’t have money. Make it a point to look in your neighborhood. Look at all signs and call them. Better yet, be connected to the neighborhood “tsismis” (gossip). You just may find something in the neighborhood.
Your Network – motivated sellers are usually under a great deal of financial stress. Most of them will not proclaim it to the public. If one of your friends or relatives is under stress, you may just be the person to help them. Who better to help them than someone they trust? Of course, you can always just let them comes to us.
These 6 sources are a good place to start looking for below-market value properties. If you find one, let me know and let’s do business.
Profit is made when you buy. If you buy at the right price, you will have room to sell quickly at still a good price. If you buy too high, you can be stuck with an overpriced turkey.
Under normal circumstances, real estate is bought at market value. Market value is the price that a willing buyer and willingseller meet. Both parties are under no undue pressure to buy or sell.
As an investor, you’d rather be in abnormal circumstances. When buying, you’d rather deal with a motivated seller, someone who needed to sell yesterday.
Examples of motivated sellers are those under foreclosure, moving to another country in 2 weeks or undergoing a critical operation.
Sometimes, a seller may not be motivated but they have an incorrect assessment of the current market value. Maybe their old or they inherited the property and would just like to convert it to cash.
So, where do you find these good deals? Here are 6 sources for you to look at.
Online Ads – as more and more people get access to the internet, you’ll find more and more amateur sellers try to market their property themselves. They would go on online classifieds such as Sulit, AyosDito or OLX. You have to look at the online classifieds regularly because you don’t know when a bargain comes up.
Newspaper Ads – Manila Bulletin and Buy and Sell are the two common media that motivated sellers advertise on. The motivated ones usually just post 1 or 2 line ads because they are budgeting their money so you may not see the keywords that flag them as motivated. Call them anyway if they are in your target area.
Foreclosure Lists – although banks are not as motivated now as before, you may still catch them sleeping on the job. Many banks, especially those that acquire other banks, can still make mistakes in getting the value of non-performing assets. Note that banks are not property investors so try as they may to sell properties at market value, there’s still 1 or 2 that can be acquired at a bargain.
Property Auctions – auction houses also sell bank foreclosed assets so similar to #3, you can find good deals in these auctions.
Your Neighborhood – not all sellers advertise, especially those that are under foreclosure and don’t have money. Make it a point to look in your neighborhood. Look at all signs and call them. Better yet, be connected to the neighborhood “tsismis” (gossip). You just may find something in the neighborhood.
Your Network – motivated sellers are usually under a great deal of financial stress. Most of them will not proclaim it to the public. If one of your friends or relatives is under stress, you may just be the person to help them. Who better to help them than someone they trust? Of course, you can always just let them comes to us.
These 6 sources are a good place to start looking for below-market value properties. If you find one, let me know and let’s do business.
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