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Author: Rick Otton Article source: http://financezone.info/. Used with author's permission.
Property Investing: Here Are Two Important Tactics You Must Do When Buying Real Estate Off The Internet
You can purchase property off the internet. The off line fundamentals of property investing apply on line. My friend Roger does property investing and is a real estate agent. Recently he told me how he negotiated a transaction. He spotted the property on the internet off a real estate agent's website.
While property investing for over 20 years, Roger typically purchases his properties off line. But Roger just bought a property which settles next month in Yeppoon. This is a coastal town next to Rockhampton in Queensland. He has not seen the property except for photos from the real estate agent.
Roger's property investing philosophy, like many seasoned investors, is he's detached from the process. He also knows that if he would have physically inspected the property that he would have paid alot more for it.
(The agent would have known that he was flying interstate specifically to inspect this property.) But because he hadn't seen it, just saw a photo on the internet.Roger said to the real estate agent, "Look this is my price take it or leave it." I'm not prepared to even come up and look at the property until I know I've got a signed contract from the seller at this price.
First, Roger applied his offline property investing philosophy on line: remain detached and unemotional about the purchase of real estate.Roger knew if he got in the plane and spent money flying up there and got emotionally commited, the vendor would have dragged an extra $10,000 or $15,000 out him because he was making a special trip to fly in.
Also, Roger had physically inspected the areas where he planned to purchase in advance of this transaction. Thus when the time came, he was able to speak knowledgeably about the area with the agent. This gave Roger confidence to buy on line and the agent must have felt he was credible. Rick Otton is the director of We Buy Houses Pty Ltd. He has been property investing full time for 14 years. Rick has completed over 351 property transactions in Australia and the United States.
Rick specialises in creating positive cash flow through a variety of strategies he perfected in the United States and adapted to Australian conditions. He sells home study courses on vendor finance, one year mentoring program as well as a yearly 3 day boot camp on the Gold Coast. Go to http://www.rickotton.com for more property investing information ring 1800 003 588 in Australia.
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