Posted by Pavon Bailey on March 21, 2000 at 13:01:52:
Mr. Jaglinkski:
I am very familiar with Mr. LeGrand. I have his book and one of his courses are in the mail as we speak. Anyway, you can buy ANY house below market value. It doesn’t have to be a rehab or a fixer upper. The key is the MOTIVATED SELLER…one that’ll be flexible on both price and terms. If you encounter a seller that is firm on his asking price, negotiate terms. If he’s firm on his terms (all cash, per se), negotiate price. If he’s firm on both, move on. That means he’s inflexible.
Try offering a price below market value. It won’t help to try. Anyway, who pays sticker price for an automobile? The answer: NO ONE.
By the way, I’m a newbie, too. I’m just reading anything I can get my hands on pertaining to real estate. If you’re a newbie, I’d advise you do too. The education will pay for itself 10, 100, maybe even 1000 times more.
Hope this helps. Enjoy your day and happy investing!
Hi, I am a new person at real estate. After reading some
books, my wife and I decided that we want to buy a two to
four unit building, but we want to buy it below market
value. So can some of you experienced invesors please give
us tips on how we can accomplish this goal? I looked at
Ron Legrands course, and it seems that his basic approach
is to buy “ugly houses”. Are there any other strategies
besides buying houses that need rehab work?
You have to make offers…period. Motivated sellers don’t have a sign on their forehead (I saw one once) saying “I’m a motivated seller”. You have to make offers, and get them rejected, to find the motivated one. Don’t fall in love with a property. There are more where that came from. Make offers, make offers, make offers. The deal will come.
You can find that perfect property, but if an UNMOTIVATED seller owns it-forget about it.
Look for MOTIVATED sellers, not properties. Joe Kaiser has a Targeting Tired Landlords course that may be of interest to you. You can check out his articles for free at this site(links on left top of page) and also check out course descriptions for your area of interest.
Re: Just how can a person buy below market value? - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on March 21, 2000 at 18:39:43:
Hello Kevin, There are several things to consider in your project. One is financing. If you have cash or have cash lined up then that part is in the bag;BUT you will have to be even more careful than most to be sure that you do not pay too much (sometimes it is easy to make a mistake with cash). Now if you are like most of us you do not have the cash heavy problem (yet). Understand that for you to find a real deal at rock bottom wholesale cost it will be necessary to make lots and lots of offers. The problem is that I get discouraged while doing this process. I think most of us get discouraged while looking for a bargain situation. Find a seller who is in trouble and must sell, don’t worry too much about buildings until you find the seller who is super motivated. Look where everybody else ain’t lookin… That may be easier said than done, but it will produce results. Take your time and do it right and good hunting…ED
