| Real Estate for .50 cents on the dollar. | | | | sources. Agents are not super-busy right now, so they |
| With the sub prime market being absolutely | | | | will jump all over this idea. |
| unpredictable, investors can not depend on their buyers | | | | The reason this technique is going to help you survive |
| to come thru with loans. Try this little technique of | | | | as a real estate investor is you don't have to count on |
| acquiring property. It will help you to survive as a Real | | | | traditional loans that aren't dependable right now. Just |
| Estate Investor in Maryland, DC and Virginia. | | | | find a hard money lender. They are listed right in the |
| Stop looking online and finding REO (bank-owned) | | | | yellow pages. Most will lend on properties that are |
| properties to buy. Find an agent and tell them you | | | | 70% below market minus repairs. This method leaves |
| want to make about 30 offers a month on REOs that | | | | enough of a spread to add any repairs right into your |
| have been listed for 180 days or more. Tell the agent | | | | loan. Many hard money lenders don't even care about |
| to make the offers at 50% of the listing price and | | | | your credit rating, they decide whether to loan you the |
| make them contingent upon inspection. Each time the | | | | money based on the deal. Don't let the cost of money |
| bank asks for a counter, send the offer back $5000 | | | | discourage you from using hard money lenders. The |
| less. Of course, all of the offers won't be accepted, | | | | availability of money is more valuable than the cost. |
| but if you can get two or so accepted out of 30+, you | | | | Look at your bottom line after the deal is done. |
| have hit the jackpot. All you need to do is fund the | | | | Acquiring half priced real estate, will ensure your |
| deals using cash, private money, hard money or other | | | | survival as a Real Estate Investor! |