Finding Bargains

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Do the quick turn techniques work in a seller's market?"The short answer is, yes they do... they work great!

The main challenge in any market is acquiring properties at a bargain price. In a seller's market, the challenge is a little harder because of the potential competition from owner occupants willing to accept property in less than perfect condition. However, the opportunities are still there for the savvy entrepreneur who knows how to quietly and effectively prospect for the bargains.

Keep in mind that in any market, there are going to be property owners that become financially distressed. Divorce, death, job loss, job transfer, business failure...whatever...stuff happens. It's really a question of learning how to put yourself in the right place at the right time with the ability to act quickly.

The best bargain hunting techniques are those that require a little work on your part. This means that you have to get off your butt and do something! This requirement automatically weeds out many of your competitors who are content to depend on leads from real estate agents.

What sources are the best?

In no particular order of importance, the following general sources are at the top of the list for finding bargains: FSBO's, bank or other lending institution REO's, abandoned/vacant properties, condemned properties, and pre-foreclosures.

You can make a case for several other sources such as estate sales, sheriff's sales and HUD/VA properties, among many others. True, these are all good sources and should be pursued. But the question was, "What are the best sources of bargains?" In my opinion, the list provided offers the best because most require some work and therefore result in less competition. And that's the arena in which you want to work.

So, what are the specific techniques for working these sources? Well, you'll have to get a copy of my new course, Real Estate Cash Flow Magic: Secrets of the Quick Flip Business to get all the details. For more information on this powerful, quick cash course, go to: http://www.rehabwiz.com/quickflip.htm

In good markets or bad, opportunities are always available for the entrepreneur who has figured out how to minimize competition and get there first.

By Kevin C. Myers.

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