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There are many people nowadays who want to sell and buy properties. If you want to be a successful real estate investor, you must be able to buy and sell houses or property from those people at reasonable discounts. Buying and selling often go hand in hand. When you learn how to buy wisely, you will automatically learn how to sell wisely. The margin of higher profits also depends on the amount saved during purchase.
Study the market
Studying is the key to success, whether you are preparing for your exams or planning to be a successful real estate investor. Buyers have a trend. If a person is buying house for his family, he will prefer to buy a house that has a playing ground and a school in its vicinity. Older people will prefer a house close to a clinic or hospital. The guy with kids will be more concerned about the overall environment of the neighbourhood. Before you buy, take all these factors into account since you will need to sell the property later.
Locate the motivated seller
If you want serious discounts, you must put serious efforts into locating a motivated seller since only a seller who is in urgent need of selling his property will offer you good discounts. If a seller has all the time in the world, he will most probably wait for an offer that suits him. The motivated seller is the key to getting a good discount.
The Call
The call does not necessarily mean a phone call. The idea is to visit the place and form a realistic idea about the price of the said property. If you visit the place, it will also give the impression to the seller that you are a serious buyer.
Negotiation
When you go for a visit, infact, whenever you go for visiting a property with the intention of buying it, make it a rule not to give good remarks about it. Always point out faults, mention the areas which need uplifting. Also try to emphasize the point that you will need to spend a lot of money in order o bring the property into good shape. This will definitely make the seller think over the price once again.
Offer and counteroffer
You should follow the following as a strict rule if you want to be a successful real estate entrepreneur- Never make the first offer.The idea is something like this: You have arrived at an estimated price of a property. The seller has a price in mind which is lower than your estimated price. If you blurt out your offer fist, the seller will never reveal the amount that he had in mind. And you will end up buying the property for a bigger amount.
However, if the seller reveals his offer first, you will have a clear and concise amount with which to start your negotiation. You must also have a clear amount in your mind at which you will settle. There is no need for haggling for nickels and dimes. If, during the negotiations, you reach your benchmark, you should close the deal.
I invite you to learn more about Real Estate Investing and how to grow your real estate investing business and how to raise Private Money by going to http://www.realtystructure.co.in
This article originally written by Mr. Raghvendra Singh. He is most famous Real Estate Consultant in Lucknow India. Call Us:9235322200.
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