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What makes an expert real estate investor?
When the thought of buying real estate crosses your mind, do you feel a strange sinking feeling in the pit of your gut?
If so, this feeling is the biggest obstacle between you and great profits in real estate investing.
The only reason most people feel strange and nervous about buying real estate is because they are unfamiliar with the terminology
and processes involved in buying and selling real estate.
The pages that follow will attempt to educate you and give you a sense for the business of investing in real estate foreclosures, homes and income property
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A few of the more amazing things about real estate investing you will discover are:
- Buying multi-million dollar income property is easier than getting a car loan.
- Home owners facing foreclosure are most likely to deal with the person who appears most competent and able to help them in their situation.
- Bankers like doing loans to people who they perceive will be repeat customers.
- Real Estate is one of the most solid and fast growth investments available.
- Even property with negative cash flow can be worthwhile.
If you have never bought or sold real estate before, the following pages are especially for you.
Even so, be sure to go over the real estate terminology
that will be used throughout this online e-book.
For those who have purchased a home before, or who are seasoned investors, but perhaps new to foreclosure investing, I expect most terms are old hat, but you might be surprised with what you don’t know you didn’t know!
- Asking good questions can be more important than knowing all the answers.
Nobody likes a know it all.
It is especially important that you strike the right balance when dealing with home owners facing foreclosure.
Only by asking questions will you appear interested – but asking the wrong questions could destroy your credibility and their confidence.
It is CRITICAL that homeowners facing foreclosure are confident that you can help them in their situation.
If you have bad or no credit, little income and no cash to speak of, it is also of critical importance that you strike the proper balance between asking the right questions and knowing how to answer questions put to you.
Buying foreclosures and buying with little or no cash down payment requires many of the same skills.
In both cases you’ll be selling yourself.
In the case of the foreclosure property, the home owner will often be fielding offers from multiple investors (sharks) who are looking for the best possible deal.
In the case of the no cash down home purchase, you’ll be asking the home owner to carry paper (finance you) on the property.
Often the two worlds collide.
Homeowners who are facing foreclosure, but not quire there, will be very motivated to transfer the responsibility of paying the mortgage to another person.
At the point of foreclosure the game changes, but many of the skills do not.
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