How To Make Money In Real Estate
It is no secret we are in a down real estate market. Almost every day the newspaper and television news broadcast tells us about the foreclosure crisis. This site is devoted to exactly that but there are other arenas you can find deals. Hopefully this article will spark your creative juices and get you to looking under every rock.
This may sound macabre but death is an opportunity for the savvy investor. The surviving spouse may just wish to "dump" the property as he/she can't bear to live in the house as an empty nester with all those memories. Sometimes the heirs to the property live out of state and only want the cash. Don't overlook this arena.
Divorce seems to be more common than marriage these days. I personally found a house owned by the husband and all he wanted was to get rid of it and fast. He didn't want the soon to be ex get any part of it. I'll admit that was a strange situation but I guess the emotions present in a divorce can make people do funny things.
America is facing not only a foreclosure crisis but a job crisis as well. Outsourcing and layoffs seem to be the norm. However, not everyone is losing their job. In fact, some people are still being promoted and as a result are forced to relocate. My wife's cousin is such a person. Unfortunately for us he lives on the East Coast.
Don't overlook apartment houses. You may be able to pick up a nice apartment house because the present owner is having management or rental staff problems. You have to do some super sniffing to learn what is going on inside the management office but if you know people who are tenants ask them what they know about their complex.
Two areas we all have the potential to face one day in our lives are tax problems and/or medical bills. One or the other can be devastating. I had open heart surgery in July 2006 and if it wasn't for a super medical insurance program, I might have had to sell our house. The bills were enormous.
Everybody knows about absentee owners so I left it for last. I'd personally use a title company to do my absentee owner research. Once you have a list, drive by the properties. Stop at the ones you like and try to talk with the tenant. Ask about recent repairs and problems. In other words, get a feel for the property and the ones living there. After all, if you end up owning it, they are the ones who will be making your mortgage payment.
Consider this article as a starting point to pursue a great opportunity that will bring in that extra money that we can all use in this current economy. But before you jump into something, make sure you do your research and have an exact plan to follow that will bring you to success. You can find more top quality information to create such a plan at our site, so make sure you click on the link below to get the information that will push you over the top and into success.
This may sound macabre but death is an opportunity for the savvy investor. The surviving spouse may just wish to "dump" the property as he/she can't bear to live in the house as an empty nester with all those memories. Sometimes the heirs to the property live out of state and only want the cash. Don't overlook this arena.
Divorce seems to be more common than marriage these days. I personally found a house owned by the husband and all he wanted was to get rid of it and fast. He didn't want the soon to be ex get any part of it. I'll admit that was a strange situation but I guess the emotions present in a divorce can make people do funny things.
America is facing not only a foreclosure crisis but a job crisis as well. Outsourcing and layoffs seem to be the norm. However, not everyone is losing their job. In fact, some people are still being promoted and as a result are forced to relocate. My wife's cousin is such a person. Unfortunately for us he lives on the East Coast.
Don't overlook apartment houses. You may be able to pick up a nice apartment house because the present owner is having management or rental staff problems. You have to do some super sniffing to learn what is going on inside the management office but if you know people who are tenants ask them what they know about their complex.
Two areas we all have the potential to face one day in our lives are tax problems and/or medical bills. One or the other can be devastating. I had open heart surgery in July 2006 and if it wasn't for a super medical insurance program, I might have had to sell our house. The bills were enormous.
Everybody knows about absentee owners so I left it for last. I'd personally use a title company to do my absentee owner research. Once you have a list, drive by the properties. Stop at the ones you like and try to talk with the tenant. Ask about recent repairs and problems. In other words, get a feel for the property and the ones living there. After all, if you end up owning it, they are the ones who will be making your mortgage payment.
Consider this article as a starting point to pursue a great opportunity that will bring in that extra money that we can all use in this current economy. But before you jump into something, make sure you do your research and have an exact plan to follow that will bring you to success. You can find more top quality information to create such a plan at our site, so make sure you click on the link below to get the information that will push you over the top and into success.