You have probably heard before that the “real money” in real estate is made when the market is bad. Now, we have to say up front that we count all money as real money. We don’t care whether you are making it when times or good or when times are hard. If it is money, then it counts as being “real” as far as we are concerned.
However, it is true that while fewer people may make money during hard times, those who do generally make a lot of it. This is because – especially in real estate investing – opportunities for major wealth generation occur when other people need money. If you can help them find a way to get that money, then your services will be in demand regardless of market conditions. Therefore, in order to succeed at real estate investing, you need to be able to “show the money” when buyers or sellers come looking for it.
In tough markets, real estate investors often find that they have to “sit out” a few rounds while the market recovers. They believe that in situations like those today when the loan market is nearly impossible, that they cannot get involved in real estate investing because it is too hard to get rid of property. They believe that there simply are no buyers, and therefore that unless they are interested in buying and holding, they will need to take a break from investing.
However, nothing is farther from the truth. You just need to know where to look. Real estate investors everywhere who have figured out how to use a classic (but previously far less popular) buying option are finding buyers and sellers and helping them get prices far over market value for their homes. This option is called “seller financing.”
If a seller is willing to finance the sale of their home themselves, then they can ask nearly any price they like – even in today’s market. This is because seller financing options are not subject to huge down payments or rigorous credit approval. They can often even move very quickly if both the seller and the buyer are motivated to do so. As a real estate investor, you can present this option to sellers whose property you want to buy and to buyers who are hoping to pay you for help in finding a home. This is just one option that you must not overlook during these times as a real estate investor.
Peter Vekselman has been successfully investing in real estate since 1996. He has completed over 1200 real estate deals, owned a construction company, been a private lender, and owned a property management company. Peter currently works with clients all over the US helping them achieve riches in real estate.
Peter Vekselman has been successfully investing in real estate since 1996.He has completed over 1200 real estate deals, owned a construction company, been a private lender, and owned a property management company. Peter currently works with clients all over the US helping them achieve riches inreal estate investing. For more information please visit www.CoachingByPeter.com.