There seems to be a lot of hot air and expensive courses promising amazing property deals that fall fom the sky into your lap if you will only buy their course but typically there are only 2 ways to achieve success. Here is the Second Part of our article on success in this area. 5. How to get EVERY seller in your area to call you first. No agents commission, that's the key. Imagine you have a house in a certain area and you are thinking of selling. You do your sums and realise that the selling agent will take $10,000,$20.000 or more PLUS advertising costs (and maybe not sell your house). Wouldn't you answer an ad that said "Sell your house, private buyer, no agents commission fees, no advertising costs, contract completed in 7 days". 6. Your Area Book. I carry around with me a book on the area I have as my hunting ground, just a simple accounting journal book, costs about $3 and I set it up like a dictionary so there are 2 - 4 pages for each letter. Every time I find a property for sale or rent I write down the street name under the letter as well as owner's name and phone number (or agent if that's all I have), property size and details. You will be surprised how quickly this simple technique creates an awareness of the property and values in your area. 7. Know your desired outcome before you go into any deal. Be clear about what you want. This might seem obvious but you would be surprised at how many people don't do anything because they are not clear in their own minds as to the outcome they want. 8. Motivated Sellers. These are the gold mine you hear about. The reason is that there is a farly elastic range as to what represents true market value. The reality is that market value is whatever the property is either listed at or sold at, depending on who you talk to. The biggest question I get is why would someone sell their house for less than what it is worth. Here are the reasons. Not all houses are equal, if a house is dirty and neglected people aren't that interested (most people buying houses see it as it is, not how it could be), 2nd is that market value is a very slippery thing, 3rd is people have different things going on in their lives. If they have lost their job and now everyone else is into the stockmarket and the propert market is slow, that investment house they bought at more than it is worth now is suddenly a pretty scary monster. Maybe they just are sick of bad tenants and maitenence bills. 9. Who you sell to. This is where you have your second edge. There is a regular flow of 20 to 40 % of people who cannot get traditional bank finance but who are still keen to own their own homes and able to get financing within 2 years if they can show figures. Hopefully this has given you enough information to think about whether you really like this enough before you go spending big money on overpriced information. Don't believe the hype, you will have to put in the hours, but if you enjoy houses and properties and dealing with people then this is a very good business. All the best, Stephen
StephenHenryConsulting.com |
