Here are the basic steps that you need to take in order to become a successful abandoned, code violated or condemned property investor.
1) Always Be On The Look Out – Always keep your eyes focus on opportunity. Whenever you drive by a neighborhood (to or from work or just for the heck of it) always make sure that you are scanning the neighborhood for defects. When I say defects, I mean homes that are different from other homes nearby. This can be homes that have dead grass, long weeds in the front of the home, cracked or boarded up windows, a DO NOT TREPASS sign and etc. These are the tell-tale signs that the home may be abandoned; code violated or is condemned by the city or county due to substandard living. This is your chance to not only profit from it but also make the neighborhood more beautiful.
2) Take Action NOW! – When you see this great opportunity, don’t tell others about it. Just do it! Stop talking, DO! Then once you have put yourself into action, then you may talk to others about your real estate deal and how you are going to make some big profits. You see many problem property investors just talk too much. They can talk the talk but can not walk the walk.
3) Find Out Information – Find everything that you can about the owner. You want to know absolutely everything about the owner. Age, sex, education, race and etc. This will give you a better picture of the owner. And also, you can better adapt to their personality.
4) Talk with the Owner – This is your chance to shine. Remember you only have one chance to impress them. Make it a good one. You want to be portrayed as a professional business person so dress the part. I recommend business casual.
5) Negotiation and Closing of the Sale - When you are negotiating to buy the abandoned, code violated or condemned property make sure you apply the slogan, “ABC” or better known as “Always Be Closing” to your repertoire of negotiation tactics. What is ABC? This is basically the mind set that you need to have in order to become a successful abandoned, code violated or condemned property investor. If you can’t close, you will never make it as an investor.
6) Finally, Use your real estate attorney to close – If you don’t have an attorney, start interviewing a few. I recommend that you interview at least 3 lawyers before choosing one that you want to use over and over again.
Charlie
Charlie Thai is the author of the acclaimed book, titled: How to Buy Abandoned, Code Violated and Condemned Properties With Little Or No Money Down! The Step-By-Step Process in Finding, Locating and Analyzing Great Real Estate Deals In Your Town! http://www.InvestInUglyHomes.com
Source: www.articledashboard.com
