Strategies for buying at discount?

[lesliekellett]

Derek,

I am unsure what area you are looking in, but in AZ at Auction, you can typically find 4 plexes well under $100k. Hope that helps.

Leslie

[John_in_NC]

In my area of NC, the only good big discount deals are REO's that have been sitting on the market for a long time and/or badly vandalized.

Thats about it though.

[RealEstateMister]

Derek,

  Do you know how to tell the value of multi-family buildings? Most ads are "pro-forma" In latin means "as if" These are not usually actuall numbers the property is opertating under but rather how it could perform. Check out "ABC's of real estate investing by Ken Mcelroy. He also has an advanced guide, I got the audio books and love them. Also he will teach you about "due diligance"

 

[Shaun Steckler]

You want to look for certain situations.

You're not really looking for properties to buy but people to help.

People who find themselves in these situations will be motivated to sell:

1. Divorce
2. Unexpected job loss
3. Prolonged illness

Help, help, help.

As a result, you will usually end up with the investment property.

[taxlienadvisor]

Hello,

the most inexspensive way I know of to purchase a property is at a tax deed sale/auction. The tax deed sales are held by the county or similar office, and the bidding normally begins at just the unpaid property taxes. I know of no cheaper way to possibly buy a property than for just the unpaid taxes.

You may or may not live in a state that has these sales, although even if they don't, the county may be overstocked and may have surplus lands or something similar available. the perwon who does the most research and asks the most questions to the officials in charge wins the game.

What state do you live in? Some states right now are near impossible to get a good deal at the auction right now. For example: California, the investors bid up the properties way too high for some reason, really not sure why. maybe too much sun.

Also, developed land, and commercial, and muti family homes will be available..you just have to see what's available, attend a few sales, wait for the right proeprty, dont overbid, and have some fum and make some money

Good Luck