Mold Your Way To Motivated Sellers (Part 1 of 2)
Finding truly motivated sellers really all boils down to people having a personal problem, or there being a problem with the property. If someone is making more than enough money to cover the payments and the property is in a desirable neighborhood then why would they wan to sell? That is not the type of seller that fits into the category of "motivated", so we're looking for the circumstances in and around a property that would make somebody want to sell a property fast and at a great price.
Sometimes people get in over their heads financially and get behind on payments, divorce occurs, etc...you fill in the blank. On the other side of the coin however there may be a problem with the property. I can work it from either way finding true motivation but when something is substantially wrong with a property, I start smelling a deal. If you haven't figured it out by now; for real estate investors to find great deals most all the time involves solving problems with a property. You should expect to be rewarded handsomely for being the "problem solver" whether that is in price or terms. That now opens the door for one of the hottest niches you should key into when it comes to finding great deals and it is simply frightening to death insurance adjusters around the country: MOLD!
There are areas of the country that predominantly have more of a problem with mold than others but great deals of epidemic proportions may be right under your nose and you didn't even realize it. In my area black mold has shut an entire school down and I'm running into cases all the time of home/hazard insurance carriers that simply won't underwrite a homeowner's policy until seemingly a hundred pages of legalese is signed off on. It has more than doubled insurance premiums on home/hazard insurance policies in some places. Now, you're probably thinking this is suppose to be about finding truly motivated sellers and not a lecture on insurance and biology. Problems of mold with real estate are exactly your tickets to finding motivated sellers.
Next week find out more about how to deal with MOLDY investments!
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