One of the most exciting advantage of real estate investing is the number of creative ways to make a transaction or a "real estate deal" lucrative for you and, better yet, for all parties involved.
The important questions to ask yourself before jumping in:
1. How creative are you?
2. How bad do you need the deal?
3. How motivated are your Sellers to sell?
Your goal here is to partner with the seller, assume control of the property and quickly resell the home for a large profit.
Below are important criteria for partnering with sellers on real estate deals:
Home requirements: The property can be a mobile home or traditional site built home. The property should have considerable equity (pull comparables in the area). This technique works best with more desirable homes. Perhaps the seller has not even marketed the home to properly attract buyers. The property may have cosmetic eye sores. Avoid homes that will require costly repairs, extensive curb appealing improvements, code violations, or other money pits. The property may or may not have a preexisting mortgage.
Look for homes that you believe are just a few inexpensive fixes away from a retail sale.
Seller requirements: Read more...
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