Bigger Pockets, another one of my most fav real estate blogs, is talking about motivated sellers.
It’s a good discussion with a lot of insight that we sometimes forget.
He likens a problem property to poison ivy with a seller will do just about anything to get rid of it.
Have we seen that real estate principal in action during this market!
I kind of got a strong dosage of that Wednesday with one of our properties.
We had worked feverishly to get a house ready for a tenant so he could move in by today. (That’s after we competed ‘the list’ of things he had to have done. )
We were going to meet him Wednesday afternoon.
We got everything completed, just under the wire at 2:30PM. Then we called him.
"I can’t talk right now. I’m taking a test. And then we’ve got a funeral. We’ll call you next week."
Even though we have a signed one year’s lease plus his deposit, his lackluster attitude took us by surprise. We’re not sure if he will actually move in. Meanwhile we have missed other prospective tenants because we took him.
This is part of what Bigger Pockets is talking about. And it is part of doing real estate business.
Even those of us who are seasoned real estate investors/landlords, sometimes get very discouraged.
But you know what?
Even if this tenant does renege- a dumb move on his part to be sure- we’ve still got the property. We’ll just rent it to someone else.
Here’s Bigger Pockets’ point.
There are a lot of people who would just give up when it gets a little rough. There are myriads of disgruntled, upset, strongly motivated sellers out there who want out so badly, they’ll practically give their properties away- at tremendous discounts.
Folks, those discounts can put your kids through college and can care for you in your old age. That’s not pie in the sky guru talk.
Read more about Bigger Pockets’ discussion about these motivated sellers who are itching for you to call them.
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