|Mold Your Way To Motivated Sellers
Finding truly motivated sellers really all boils down to people having a personal problem, or
there being a problem with the property. If someone is making more than enough money to cover the
payments and the property is in a desirable neighborhood then why would they wan to sell? That is
not the type of seller that fits into the category of "motivated", so we're looking for
the circumstances in and around a property that would make somebody want to sell a property fast
and at a great price.
Sometimes people get in over their heads financially and get behind on payments, divorce
occurs, etc...you fill in the blank. On the other side of the coin however there may be a problem
with the property. I can work it from either way finding true motivation but when something is
substantially wrong with a property, I start smelling a deal. If you haven't figured it out by
now; for real estate investors to find great deals most all the time involves solving problems
with a property. You should expect to be rewarded handsomely for being the "problem solver"
whether that is in price or terms. That now opens the door for one of the hottest niches you should
key into when it comes to finding great deals and it is simply frightening to death insurance
adjusters around the country: MOLD!
There are areas of the country that predominantly have more of a problem with mold than others but
great deals of epidemic proportions may be right under your nose and you didn't even realize it.
In my area black mold has shut an entire school down and I'm running into cases all the time of
home/hazard insurance carriers that simply won't underwrite a homeowner's policy until seemingly a
hundred pages of legalese is signed off on. It has more than doubled insurance premiums on home/hazard
insurance policies in some places. Now, you're probably thinking this is suppose to be about finding
truly motivated sellers and not a lecture on insurance and biology. Problems of mold with real estate
are exactly your tickets to finding motivated sellers.
Now that I've peaked your interest let me hit home real quickly here the opportunities this
presents to real estate investors. When you can find properties with mold contamination you should be
thinking big dollars because nine times out of ten the owner, insurance carrier, and lender want to
be rid of the problem and like yesterday. When you locate a property with such mold contamination
you should be able to negotiate price and/or terms very favorable to you.
When dealing in properties that have mold contamination you have to think of it in the same light as
any other repair. The repair will be substantial to adequately remove mold contamination from a
property and should be done by professionals that will insure the work in addition to being licensed
and bonded. Of course there are nuances to having a mold-contaminated property resolved from start
to finish so that hazard policy can be issued on in order to meet lending guidelines if applicable.
The key here though is the problem which is mold and a way to get your foot in the door on a great deal.
I market aggressively to insurance agents that I buy mold-contaminated properties. How funny
is that turning the tables because if you're like me you get mailed to death from insurance agents
about whole life policies, health insurance, etc... If I see business cards at public places of
insurance agents I take their mailing address and phone number as well as the good old yellow pages.
To date now I have over 200 insurance agents that I actively mail to just to state that I buy
properties with mold contamination.
Once you do a little research on how much it costs and how to make a mold contaminated
property "clean", the sooner you are to finding your next great deal with
"Finding All The Motivated
Sellers You Can Handle!".
Scott Rister is an author and "real world" investor just like yourself.
Scott started investing in real estate over seven years ago for the sole reason so many do which
is to supplement income and eventually replace the corporate job. After learning first hand what
"down-sizing" in the corporate world means, Scott focused more intently on shifting from
emphasis from buying techniques to finding truly motivated sellers. In less than a year Scott has been
involved with over 60 real estate transactions that ended up with a check with his name on it. You can
learn more about his program at
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