It has been said that real estate is all a numbers game. Such a statement is accurate on many levels. After all, the more houses you buy at low prices and sell at higher prices, the more revenues you will be able to earn on your venture.
One method that has constantly done very well is called Wholesaling. Now a days, it is not uncommon that people will wholesale multiple properties a month. For those not familiar with the concept of wholesaling, this involves finding properties below market value then either assigning their contracts or reselling the property within a short time frame to another investor. This type of investing creates huge profits very quickly.
One strategy wholesalers that works the “numbers game” is to make massive amounts of offers on properties that are currently owned by banks. Known as REOs, these properties are easy to acquire.
Often, the banks will look for a buyer that is willing to take the properties off their hands. Remember, when banks foreclose on a property, they will have to absorb the costs of it and that is a huge expense for the bank. This then creates a great opportunity for an entrepreneur since the bank may be willing to part with these homes at discount rates.
Many times you can use a contingency option when you make your offers when seeking out the motivated seller When you find a number of reliable sellers, you can make a number of offers to purchase their properties. If the counteroffer is workable, then you might be in business.
While this process may be a little time consuming, it can yield a number of excellent offers and deals. That is why it is definitely worth exploring.
For those that would wish to cut down their time commitment to this process, there is now the ability to use software that not only finds bargain properties automatically on the MLS, BUT will also automatically generate your offers based on your investing criteria. This type of software can put your business not only on autopilot, but also into HIGH gear very quickly.
How does the software process work? Basically, these systems scour multpiple MLS sites looking for the best deals to match your requirements. The software then categorize these deals comparing the property for sale value AGAINST the comparable market value so you can easily spot deals very quickly. This type of software also give you a central point to locate deals in a very short period of time without a huge marketing or advertising budget. And, of course, the hiring of a multiple Realtor’s to set up search criteria is now completely eliminated as well.
Duncan Wierman is a former Software company CEO turned Real Estate Investor and Marketer. Discover how you can use software to automate your business and make quick cash. For more details on how his software can help you make massive amounts of offers and automatically send them via email, fax and text alerts, please visit www.RapidOfferGenerator.com
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