One of the biggest principles that I teach my students is that what you focus on WILL expand. It will take up more of your time, it will become more important, it will become bigger and more bothersome. Now for some issues this is a good thing. But for a negative issue, it can be incredibly consuming of your time and emotionally draining.
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Auctions are probably my favorite way to get rid of a lot of land at once. If you do it right it can be a very enjoyable, very affordable, and VERY profitable. You do have a few options when it comes to holding an auction and both have their pros and cons.
Have you seen my new videos on selling real estate? I have already posted 3 videos on how to sell real estate fast and I will be posting one more all free to you. But you need to go and check them out now. They will only be posted for another few days.
If you’re a bit inexperienced, there are some delinquent properties that can certainly pose an issue to you. Properties with lots of back taxes, physical problems, or houses on them can cause a concern; not only because these issues will cause you to have to spend more money on the property, but can also change the way you will have to handle and sell the property.
Some of my students have issues with land that has houses on it. I say that I only like to work with land and a lot of my students feel the same way. So when they send out a ton of letters to potential sellers and find out that some of these properties have houses on them, they are either totally turned-off by the property or just don’t know what to do with it!
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Title companies first started appearing in the United States in the late nineteenth century as a way to protect buyers against uncertainties about who really owned the land they were buying. In order to determine that the title being sold is “clear” that there’s no confusion or dispute about who actually has the right to sell it, the title company does what’s called a title search.
Are Craigslist and eBay still good places for real estate investors to buy and sell property?
I say, YES! But you need to know the right techniques and strategies to increase your visibility online and sell your properties fast, even in today’s market.
One excellent way to broaden your market and increase your pool of buyers is to offer seller financing. Seller financing used to be much more common a few decades ago when interest rates were much higher, but it never went away totally and it’s making a come-back these days in our post-housing-bubble period. Offering seller financing means you, the owner, are acting in place of the bank – instead of a buyer going to a bank to get a traditional mortgage (which is hard for many people to do these days) – you, the owner work out payment terms with the buyer and effectively finance the deal yourself.
“Should I rent or buy?” is a question I get asked a lot these days. As always it depends on so many personal factors and the specifics of your market. But I found this news to be very interesting: according to a recent study by the real estate website Trulia.com, home ownership is actually cheaper than renting – at least in the case of a two bedroom home – in 72% of major US cities. That’s right, owning is cheaper than renting in most cities in America!
Everybody loves an auction. Buyers love them because they think there are deals to be had and sellers love them because they think they can get more for their property. But is all this love really justified?
Remember, there will always be costs associated with putting your property up for auction. The auction house will charge their commission on the sale plus a fee REGARDLESS of how (or even if) your property sells. You need to make sure you’re aware of all these costs up front.