I 
called his bank and learned that he had applied for a loan, but it wasn’t approved yet, maybe in another week or two. I put his application on hold. If I had signed a contract with him during this time, I would have taken the property off the market for 30 to 40 days until his approval came through—if it came through. I didn’t want to waste time.
Not Making Sure Buyers Are Preapproved for a Mortgage (2)
Not Making Sure Buyers Are Preapproved for a Mortgage
It’s a 
simple but essential step that saves you time and money.
I had 14 duplexes to sell in Nashville, so I ran an ad in the Sunday paper and got 37 responses. The first caller said he wanted to buy all 14 duplexes. I asked if he’d actually seen them. He said, “Absolutely. I know where they are.
How to Get Sweet Property Deal
To get a good deal and arrive at a price you’re willing pay, be sure to ask for the seller’s lowest price at least three times. Say something like, “I don’t like to negotiate, I’m not good at it, I know you don’t either—so without negotiating or haggling, what’s the absolute least you’d take and be okay?” “Now, let me ask you one other question; I don’t like to negotiate.
Spending Too Much Money on a House That You Bought to Fix Up and Sell (2)
For instance, an active investor in a specific neighborhood might confirm that houses do comp out at those prices, but that the market is slow. Or an agent who sells a lot of houses in that area might say that even though they comp out at $300,000, people are only paying $275,000.
spending Too Much Money on a House That You Bought to Fix Up and Sell
To take all the emotion out of real estate, you need to ask three questions when you’re deciding whet
her a property is a good deal:
- What’s it going to sell for? (Not what it’s appraised for, but what it’s going to sell for today.)
- What will repairs cost?
- What can I buy it for?
Things to Consider before Doing the Home Improvement (2)
McGowan picked the right property. He had the expertise and was willing to spend the time. He had something else, something I consider more important than anything else: McGowan could see past the wreck that he had just bought to the house it could become. Click here to read more.. »
Things to Consider before Doing the Home Improvement (1)
No matter how good something seems to be, it never is. If you want to buy a fixer-upper, that should be a conscious decision. You need to take a number of factors into consideration before you make what can often be a painful leap. You should first decide whether the neighborhood and the house are both worth any money you spend, whether it is a few thousand dollars or a few hundred thousand dollars. Click here to read more.. »
