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MyWikiBiz, Author Your Legacy — Sunday May 19, 2013
Name: Discount Properties
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Where do I find discount properties? Unless you've been hiding on another planet it's no secret that foreclosures represent an unprecedented opportunity right now because of the share volume that exists and the fact that the banks that own the foreclosures are selling them at attractive money making discounts.
As a real estate investor one of your main jobs is to find discount properties to buy. Why are you looking for discounted properties, you ask? Well one strategy in real estate is to buy low and sell medium high. The difference between what you paid for the property and what you sold the property for is your profit. In order for sellers to sell their property, they must be motivated to exit the property quickly, 30 days or less. Typically the rule of thumb is if you want to sell something quickly you always sell at a discount. An investor has to find that motivation within the seller to find a deal. Banks are the largest group of motivated sellers right now. So to make things easy for yourself, you should build a large portion of your buisness to attract deals from the largest pool of motivated sellers.
Buying REO's (Real Estate Owned) addresses one of an investor's main hurdles and that is finding discount properties. Banks are offering properties at steep, money making discounts as well Banks clear the liens on the properties to help increase the sellability of the property which in turn passes hugh profits onto the investors.
The bottom line is there are many discount properties available right now and the largest motivated seller are the banks, so go out there take massive action and make huge profits.