Creating Sales with Tough Properties, in Tough Times
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In this book you learn creative financing techniques and effective marketing strategies to sell your property when you need to. Discover creative ways to convert equity into cash and income fast, with tough properties, in touch markets, with tough people. For Brokers, Dealers, Owners and Investors.
For the past 45 years I’ve taught a generation of investors and entrepreneurs how to buy and finance real estate, with a particular focus on single family houses. As I write this, we’re in the midst of booming housing markets all over America. It has never been easier to finance or to sell a house in today’s vibrant economy. Why, then, am I writing a booklet on Creative Sales? Because it is in the nature of economic and business cycles that markets change.
Those who were weaned on a diet of easy credit, low interest rates, and increasing values can’t draw upon their experiences in a “down” market, yet they may be compelled to sell properties in order to protect their equity positions. Or, they may wind up with properties that they don’t want in a market in which people with falling equities willingly surrender them to lenders in lieu of foreclosure. As a result, lenders become owners who must liquidate properties in order to raise cash.
Particularly vulnerable are those unfortunates who signed loans with full recourse, then re-sold the mortgaged properties to others, carrying back seller financing on contracts, wrap-around loans, or straight second mortgages. Even though these lenders may easily regain possession of their properties by accepting a conveyance in lieu of foreclosure, they will still be weighed down by first mortgage payments until they can re-sell the properties. Woe unto them if these properties should be entangled for years in bankruptcy proceedings until they can be sold to pay off creditors.
Whether credit or sales markets are up or not, life goes on. People lose jobs, get divorced, get sued, need money to pay taxes or to keep a business running, or want to sell out and relocate to other areas. In each instance, selling the property they own often is the only way to raise cash they need. Thus this book is for everyone: brokers who earn commissions from buyers and sellers, dealers who act as principals, buying and selling to earn their living, investors who want to re-balance a portfolio and owners who no longer need to use real estate, and who want to do some estate planning. I hope you will find it of some value when you get ready to sell your property.
TABLE OF CONTENTS
5 Reasons for Selling At Reasonable Prices
Giving Brokers Incentives to Sell
10 Ways To Get Salespeople Excited
Preparing Properties to Motivate Buyers
Setting Prices That Make Properties Sell
10 Tests for the Do-It-Yourself-Seller
Making Money By Guaranteeing Sales
Old House for New Trade-In Techniques
Marketing Your Property At The Lowest Cost
Creating Signs That Sell
Using Flyers and Advertising Effectively
Brainstorming Marketing Ideas
Pre-Qualifying Buyers To Speed Up Sales
Presenting Property To Appeal to Buyers
Motivating Buyers To Come To You
Setting the Scene For The Kill
Showing the Property To Excite The Buyers
Motivating Buyers to Act
Manipulating Credit Variables to Finance Sales
Overcoming Buyers’ Financing Problems
Creative Seller Financing that Creates Sales
7 Techniques for Getting a Contract Signed
Making Money Selling Unsalable Properties
Getting “Sweat Equity” Buyers to Fix Houses
Making Money Curing Title Problems
Using Quitclaim Deeds and Quiet Title to Make Money
Timing Markets to Increase Gain, and Avoid Loss
Indexing Contracts to Put Inflation To Work For You
Horse-Trading Properties to Make Money in Tough Times