September Buyer's Tip-Work with an expert to get the edge

Last month I talked about the advantages, for a seller, of talking to a short-sale expert as soon as things get rough and they're in default. There's a flip-side to that idea that I thought I'd bring to your attention this week.

This is one of the best rebellious tips I can give a buyer in this market, especially somebody looking to buy a home for themselves versus an investor looking for a portfolio property (although the idea certainly applies):

If a property shows up on the MLS or with a "For Sale" sign, you may already be too late for the party! Sad but true.

Once the sign goes up, it's like blood in the water for buyers of all types. And a lot of times, if you are looking at the same property that an investor is looking at, you are going to have less cash, less credit, and a weaker bargaining position.

BUT...

What if you do what one of my clients is doing? Let's call him...Ronnie Rebel.
Ronnie is looking for a few of things for his family:

• A good school for his kids
• A safe neighborhood with good opportunities for outdoor recreation
• Close proximity to his work because he likes to ride his bike
• Getting all that within his budget

Ronnie is NOT so concerned with:

• Finding his "dream house" with the spiral staircase and the built-in outdoor jacuzzi
• Waiting until the "perfect" place comes along
• Having a brand-new house
• Paying a premium for the "right" address

Ronnie is my kind of Rebel.

Ronnie came to me and told me what he was looking for, and mentioned a couple of neighborhoods that he liked. I mentioned it to a couple of my Bird-dogs (don't know what a Bird-dog is? Stay tuned for an upcoming Topic on how to make money in Real Estate WITHOUT being a Real Estate Agent) and they did some digging and located a couple of places whose owners were looking at default and are talking about the short sale process with those owners...if one of them is interested in working with us for a short sale, Ronnie definitely has the inside track. Because he is looking at buying a property that will never go on the market and never have a "For Sale" sign attracting a bunch of potential competitors to the sale.

So, be like Ronnie: invite a short sale expert in early when you are considering buying a property and want to take advantage of the best bargains out there.

Yours (and Ronnie's) in Rebellion!

-LARRY