Reprints Online

Members Login
Username 
 
Password 
    Remember Me  
Post Info TOPIC: Little Known Millionaire Secrets


Guru

Status: Offline
Posts: 1465
Date:
Little Known Millionaire Secrets
Permalink  
 


There is literally a fortune lying at your feet in the world of abandoned and distressed properties, and you don't need an advanced degree, a banker, or deep pockets. Instead, you need the drive and determination to succeed, and the willingness to locate the answers to just a few questions:

  • Who are the owners?
  • Where are the owners?
  • How motivated are they?

As you embark on this magical journey, keep in mind that I did what you're doing a little over 20 years ago. You might be wondering if there are still profitable abandoned properties out there. The answer is yes. Recently, the Wall Street Journal ran an article that mentioned the fact that there are more vacant properties in our real estate market now than there have been since theyve been keeping those statistics.

I learned what you're about to learn: that creating tremendous wealth with abandoned properties isn't hard. The owner has walked away from the property. Hes probably still paying a monthly mortgage, taxes, and insurance, with no money coming in from the property. The owner ran out of optionsor at least thought he had. That willingness to walk away demonstrates evidence of being overwhelmedfinancially or otherwisewhich proves theres a powerful motivation for the owner to unload the property before his friendly banker unloads on him. It's your job to locate the elusive owner and bring him back to the table so you can solve his problem.

This special report is your introduction to a blueprint for abandoned property prosperity. Not only do you get to pick your own ending, but you get to write your own story. Every time you work a deal youll have a different set of circumstances from which to choose.

So how will your first deal go?

Imagine you are driving through your city, within your comfort zone, not consciously thinking about finding an abandoned property. You're simply driving your daughter to a friend's house for a birthday party. Once you drop her off, you whip around the block and get back on track. No sooner do you make your turn than you see it: a white ranch-style house that sits back on a deep lot, overgrown with weeds. You can't help noticing as you drive by that there's an old For Sale sign lying on the porch.

Thoughts of going to work evaporate as you start thinking about that house. Unbelievable! Its in pretty good condition. As you walk around the property you marvel at the condition it is in. As nearly as you can tell, the property is in very good shape. Trying to contain your excitement, you snap a few pictures of the property with your cell phones digital camera. You attempt to peer into the windows, but the drapes obstruct your view.

Every real estate investor has a first property deal, and you are beginning to feel like this could be yours. Feeling a little bit like a cop show detective, you keep looking for any trace of the owner, but there doesn't appear to be anything.

At the rear of the house, you see a door leading to what you assume is a kitchen, and when you draw nearer, you realize you can see inside from here. Opening the screen door, you shield your eyes from the sun and press your nose against the glass. You are able to see a slightly outdated kitchenits very nice, it just needs updating. The kitchen is very large with a center island. The cabinets appear to be of high quality, although the stain is a little darker than you would prefer. All in all, you're very pleased by what you see.

Making your way back around to the front of the house, you know you have to get inside to see the rest of it. This property looks like it has the potential to make you a significant profit if you can get it for the right price and terms. Before you start counting your money, you have to find the owner. Okay, thats actually secondfirst you have to find out who the owner is.

As you open your car door to leave, it suddenly occurs to you that perhaps the neighbors could shed some light on how you can locate the owner of this property. You knock on the doors to the left and to the right. You even knock on the neighbors doors across the street, but you get the same responsenobody is home. Since this is a weekday, you realize they're probably all at work. You make a mental note to swing back by in the evening or on the weekend.

Glancing at your watch, you realize you have plenty of time to drive by the courthouse and find out who the owner is. Beginning to whistle, you head in that direction.

Two hours later, you're seated in front of your computer at home doing a Google search for Vivian Anderson. Your trip to the courthouse was a resounding success. Now that you know who she is, you just need to locate her. After spending a little time doing computer research you arrive at the conclusion that Vivian Anderson has dropped off the face of the earth. That's okay, though, because you want to see what the neighbors have to say. Somebody knows where she is. You just have to find that somebody.

You drive back to the house and, after a brief conversation with Mr. Martinez next door, not only do you have an address and telephone number for Ms. Anderson, you also have some valuable background information. It seems Ms. Anderson has been a widow for nearly 20 years. Her husband, a university professor, died suddenly of a heart attack. Heartbroken, she vowed never to marry again. Unfortunately, as she aged she began exhibiting signs of Alzheimer's disease. Subsequent visits to a neurologist confirmed the initial findings.

Thanking Mr. Martinez for the information, you head home to give Ms. Anderson a telephone call. As you drive, you think about what you've learned. According to the records you saw at the county courthouse, the property has no mortgage.

Even though there's no mortgage, property taxes are still due and the insurance premiums will still be coming due like clockwork. If they tried to sell the house, they would probably be unable to until some repairs are made. You wonder what Ms. Anderson is doing for an income, and you realize that the members of the Anderson family are probably motivated to sell and are desperate to do something to improve their financial situation.

Based on your comparable sales data, you determine that your abandoned property is worth somewhere in the neighborhood of $234,000. You contact Ms. Anderson and she is willing to sell you her house headache for $145,000. Youve already determined the repairs to be no more than $25,000. Youre looking at making a profit of over $60,000 on your 1st abandoned property deal! And it was so easy!!

I invite you to learn more about Abandoned Properties and get a FREE Real Estate Investing audio CD titled "How To Get Rich In A Slow Real Estate Market" by going to http://www.reggiebrooks.com Reggie Brooks is an international speaker/lecturer, an author, and an active real estate investor. Reggie has spoken on programs with such notables as Donald Trump, Magic Johnson, Suze Orman, Anthony Robbins, George Foreman, Rudy Giuliani, Dr. Albert Lowry, Alan Greenspan, David Bach and Russell Simmons, to name a few. Over the years, Reggie has developed his Success Systems that consistently turn marginal $15,000 to $20,000 real estate deals into $50,000 to $75,000 deals. Reggie teaches his Success Systems all over North America. His students say that the combination of his insightful knowledge with a sheer joy for teaching makes the learning process pleasurable.

doh


__________________
Build Your Own Software that also without code
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us


Create your own FREE Forum
Report Abuse
Powered by ActiveBoard