By: William Tingle
You don’t want to go down the beaten path - if it worked so well, we wouldn’t have the kind of downturns like the one we’ve seen from housing in recent years.
In times like these, a real estate investor can really make some good, bold moves that will put him either in position to win big short term, or win big over the long haul. Whatever your investment strategy, remember it doesn’t take a market upswing to ensure you make a lot of money.
How is this accomplished? Through unconventional thinking. If you follow conventional thinking in the tough times, that means you’re living like everyone else in a slow economy - a little trepidacious, a little hesitant. Being unconventional means thinking outside the box and opening up your mind to alternative ways to earn money through real estate even when the market isn’t hot.
How do you do this? We can recommend three ways:
1. First, try unconventional transactions that make sense when people are looking to sell. One such transaction is a Subject To real estate transaction in which you take over the mortgage payments of another person’s home in exchange for a small up-front purchase. This is a great way to avoid real estate agents and ensure that the money you’re investing goes straight into the property you’re looking to buy. If you can become a master of the Subject To deal, you can really find interesting bargains out there that other people simply don’t see. Be careful with it and you’ll be able to do a lot of investing.
2. You can also try using unconventional thinking to make purchases in neighborhoods some people won’t touch. Remember: just because a neighborhood is going sour doesn’t mean that every property there will see a loss in every transaction. By avoiding the competition, you can really get a leg up on everyone else and find those diamonds in the rough. This can require a lot of experience and know-how, but it’s a great way to blaze your own trail.
3. Combining efforts. A real estate transaction doesn’t have to be between two individuals - pairing up and making purchases with partners can stretch your dollars. As long as you have a good working relationship with these partners and can handle yourself should things get sour, you’ll be able to make transactions individual investors simply can’t make.
What does it take to start thinking unconventionally? If you’re really stuck, try sitting down with a piece of paper and simply write ways you could make smart investments without going down the beaten path. You may end up surprising yourself and coming up with a lot of ideas that sound “unconventional” - but may be downright effective.
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William Tinglewww.Sub2Deals.comwww.WilliamTingle.com(c) 2010 All Rights reserved
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