Real Estate Investing Tip – During your real estate investing adventure, you will always be in pursuit of that next deal. You are trying to work with Realtors as well as trying to find any off market deals. You want an advantage for finding motivated sellers that can lead to locking up a deal over your competition. You want to be able to quickly go through listing to determine if there are any clues that might lead to a motivated seller.
I often have found that houses that get an accepted contract and then the deal falls through can make a seller a little more motivated. The deal may have fell through due to financing or an issue the potential buyer may have found with the house. These properties will become available for sale again and become known as “Back on Market.” I call these listing “Boomerang listings,” because they go on and off the active market. This is a type of listing you can have your Realtor search for in the Multiple Listing Service. You can then review the listing to see if you believe the seller could be a little more motivated due to the fact the sale fell through. Other clues to look for in the listings could be the total amount of time the house has been on the market.
The important lesson I learned was the deals can be better when the houses boomerang back on the market or boomerang from Realtor to Realtor, like a hot potato. When the property gets relisted, I often see the listing get reduced because the seller is more motivated because the sale fell through. As you look at property listings anything in the listing that can appear the seller is motivated should encourage you to always take a closer look at the deal and make an offer. You may not like the deal at the current price. You may not believe the location is in your top three choices for property location, but if you make an aggressive offer almost any property might be a good deal at the right price.
You need to look at a lot of properties and make a lot of offers with real estate investing. If you have patience, work hard and make offers you are closer to closing that next deal. We are chasing the Dream! Live your life in the moment with no regrets! Believe and Achieve! – Joe Jurek
