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Property Investing Secrets 8
Property Investing: A Buyer's Secret Weapon When Purchasing Real Estate My friend, Roger, does property investing and is a licensed real estate agent. Recently he looked at a property in another state that was probably worth $225,000. After some rapport building, the agent told him that he may be able to purchase the property for around $200,000. Roger loves property investing and he follows fundamental rules like doing his home work. He still thought the property was expensive and did not pursue it further. About a month later, Roger received a call from the real estate agent. The agent said that the seller would probably now accept about $180,000. The agent explained that the seller had paid about $180,000 for the property eight years earlier and he just wanted to get his money back. Roger was surprized that the seller had not factored in costs of ownership. It also happened to be April Fool's day and Roger sometimes he has an off beat sense of humour about property investing. He said to the agent, look tell the seller I'll pay $150,000. Roger also said he would sign a contract now and fax it to the agent immediately. After that was done the real estate agent rang him back the next day and said, "I can't believe it....you've bought the thing. Had I known he would have taken that price I would have bought it myself!" There are a couple of lessons in this example. First do your homework when you're property investing. That means you know where bottom of the market it is-before you meet the real estate agent. Secondly, do some rapport building with an agent. Now some of you may be wondering how Roger could make an offer of $150,000 to the agent. Roger presented himself as a serious buyer. Roger's secret weapon was that he didn't care whether he purchased the property or not. In fact when property investing he never gets emotionally involved. He told me he'll make an offer on a property, not caring whether he owns the real estate. This is a secret weapon of many accomplished property investors-thought at times it can be difficult to put in practice. I've found when property investing that if a seller wants to sell to me today, when I make an offer it's the best I can do on that day. Just as Roger's best offer was $150,000. More often then not, this strategy will enable you to purchase property at a discount. Bottom line it's important not to get emotionally attached and chase real estate. Rick Otton is the director of We Buy Houses Pty Ltd. He has been property investing full time for 14 years. Rick has completed over 351 property transactions in Australia and the United States. Rick specialises in creating positive cash flow through a variety of strategies he perfected in the United States and adapted to Australian conditions. He sells home study courses on vendor finance, one year mentoring program as well as a yearly 3 day boot camp on the Gold Coast. Go to http://www.rickotton.com for more property investing information ring 1800 003 588 in Australia.
MORE RESOURCES: Finance Guru Dave Ramsey Built This Lavish Tennessee Estate—Now It's Back on the Market for $15 Million Realtor.com Slain Blackstone executive was a real estate powerhouse Crain's New York Business CoStar sues Zillow over photos, claims ‘systematic infringement’ Real Estate News by RealEstateNews.com Real estate: Home prices climb in Martin, Indian River counties; fall in St. Lucie County Treasure Coast News Real Estate Investment Trusts Score Legislative Wins Forvis Mazars US Seattle-area real estate startup Flyhomes raises $15M as it pivots to 'Buy Before You Sell' model GeekWire After 30 years, Linda A. Gary Real Estate moves office from prominent Worth Avenue corner Palm Beach Daily News Brokerage Growth Dominated by New Models Mike DelPrete - Real Estate Tech Strategist New bill aims for stricter penalties against real estate brokers who violate housing discrimination laws The Bay State Banner The market is changing — and the industry's old rules are outdated Real Estate News by RealEstateNews.com Central Pa. real estate company expands to Georgia Central Penn Business Journal SRS Real Estate Partners Arranges $7.5 Million Ground Lease Sale of Wawa in Jackson Township, NJ citybiz Real estate: Condo prices rise in Indian River County; fall in Martin, St. Lucie counties Treasure Coast News Big Moves in Tucson: KMS Realty Merges with United Real Estate Specialists to Expand Services and Reach Morningstar I-78/I-81 Corridor commercial real estate activity picking up Lehigh Valley Business AI that replaces ‘human hires’; another brokerage deal for Canva Real Estate News by RealEstateNews.com Mortgage Rates Today: The States Offering Lowest Rates – July 30, 2025 Norada Real Estate Investments CREFC Sentiment Index Surges in Q2 2025, Signaling Rebound in CRE Market Optimism Boston Real Estate Times NAR Pending Home Sales Report Shows 0.8% Decrease in June National Association of REALTORS® Jersey County property sales recorded July 21-25 Alton Telegraph 10 metro Detroit suburbs where homebuyers can still find a deal Detroit Free Press Troy Furbay has been appointed Managing Director, Hospitality at Crescent Real Estate LLC Hospitality Net Mortgage Rates Predictions for the Next 90 Days: August to October 2025 Norada Real Estate Investments Real estate giant Blackstone caught in crossfire after top executive Wesley LePatner killed in NYC shootin The Economic Times Atlanta real estate mogul, former Hawks owner Tom Cousins dies at 93 Atlanta News First Richland County property transfers recorded July 21-24 Mansfield News Journal US industrial real estate investor Terreno sells $82m portfolio IPE Real Assets Pacific Development and PGIM Real Estate Land $97 Million Construction Loan for Landmark Mixed-Housing Project in Santa Rosa Yahoo Finance Delaware June home sales stronger than national numbers; median sold price at record high The News Journal ‘Walking beside him’: Daughter continues stepfather’s real estate dream Mountain Home Observer Top residential real estate sales for July 14-18 in Longboat, Lido, St. Armands, Bird Key Your Observer Double digit price increases for Putnam real estate Mid Hudson News Real Estate Expert Jody Wainio of Buyers Choice Realty Shares Advice on Mortgage Pre-Approvals in HelloNation GlobeNewswire Remote Bookkeeping Services from IBN Technologies improves U.S. Real Estate Firms Financial Oversight Barchart.com News | Bank of Canada decision to hold overnight rate steady keeps real estate industry waiting CoStar Blackstone Executive Wesley LePatner Died in NYC Shooting Business Insider Professional Services Automation Simplifies Real Estate Workflows with Help from IBN Technologies openPR.com Pacific Development and PGIM Real Estate Land $97 Million Construction Loan for Landmark Mixed-Housing Project in Santa Rosa Business Wire Universities leverage their real estate amid financial shortfalls and demographic cliff The Business Journals After 30 years, Linda A. Gary Real Estate moves office from prominent Worth Avenue corner Yahoo Home The real estate market: 5 key themes to watch this week Real Estate News by RealEstateNews.com Judge sides with LGBTQ+ Alliance in battle with ex-CEO Real Estate News by RealEstateNews.com Christie’s Debuts Crypto Real Estate Division The New York Times |
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