| Buying Free And Clear Property |
I recently talked with a mentor of mine who told me that over 35% of all properties in the United States are owned free and clear with no outstanding mortgages or liens.
This statistic is vitally important to investors everywhere because it means that whoever you are and wherever you are investing, you will meet many sellers of homes that are owned free and clear and this is a huge bonus in this mortgage meltdown.
Most free and clear properties are owned by older people. Stop and think for a moment what this means in terms of how you should approach these types of sellers.
What are their biggest desires? What are their biggest fears? How can you help them solve their problems?
Older people want the equity in their homes to fund part or all of their retirement. This means they crave security above all else and they fear making a mistake or getting ripped off.
As an investor, you need to build rapport with an elderly person and allow them to get to know you first without you pushing an offer on them. Spend a lot of time with them and become their friend and don’t expect to do the deal on your first meeting.
I want to be clear that by moving slowly I do not mean taking weeks to work with a seller. Rather, you should be prepared to spend as much time with them as you need to come to a decision with them in a way that feels comfortable for the older seller.
This may take a few hours of sitting and talking. If they offer you coffee or tea when you arrive, take it - and then settle back into your chair to enjoy a leisurely conversation and pay attention to them.
You can gain many valuable insights as the seller shares with you all the stories of his/her life experiences, they are a wealth of knowledge and they are the greatest generation of people to deal with in my opinion.
No matter what your offer to the seller is, you will need to address their need to feel safe with the choice of selling you the property.
Never underestimate the power of positive attention. People sell houses to people they like, and people like people who make them feel good about themselves. Listen to the seller's stories and encourage them to talk about their past. This is the best way to build rapport with an older owner.
When you understand there concerns, you can specifically address them with the seller. This is a powerful way to close the deal - to deal honestly and up front about their major concerns.
Remember…….you are there to solve their problems, this is the ultimate win win.
We will have a look at the deals we can offer these sellers in the next article.
Till next time….happy investing.
Mark Ronalds
 www.networkwholesaledeals.com
Mark Ronalds has been actively engaged in buying and selling real estate
since 1989 through out Australia and the United States.
He has done many wealth seminars and home study courses and would now like to reveille the good, the bad and the ugly with what is available out there.
His website, www.networkwholesaledeals.com is a popular site for investors and entrepreneurs and has dozens of wealth tools and e-books.
Article Source: UnArchived Articles
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