Lake Los Angeles Homes for Sale
I had my own “shock and awe” today, when I looked at
homes for sale in Lake Los Angeles, and found a home that was
right next door to the very first foreclosure deal that I ever bought.
The house that I bought was a 3 bedroom 2 bath ranch on half an acre
on 174th St in Lake Los Angeles.
Back then when I got started I did quite a few deals in that area and
every one of them has a unique story of trials, challenges, and
eventual success.
Going back to my beginnings, I notice one huge difference:
Urgency!
Even though this happened in a “hot” sellers market that is by
no means comparable to what’s going on today, all the deals that
I did at first were taking some time.
This first foreclosure ever for me – the seller called me 7 days before the
trustee sale and asked me if I could still do anything…
I was a total “rookie” then, but hey, there weren’t too many callers
that were pretty much out of options then.
And in spite of my “total rookie” status I made it happen! I made
arrangements with the foreclosing lender to come to the “cryer”
at the trustee sale, and hand him a cashier’s check for about $9,000
to bring the loan current.
I thought “Wow, if I can pull that off that I snap this property
away from under the noses of 65 eager trustee sale bidders,
that’d be something!”
And sure enough – that’s what I did.
So, yes, there was that urgency to GET the deal, but there was
no urgency at all in selling. Sure, I was totally nervous about
getting the house moved, and it was a 2-hour drive one way
for me to get to it…
But it wasn’t like I (or anybody else) EXPECTED to get any
deal sold within a few days! – Even though it was a “hot sellers market”!
Why then is it that everybody expects this now – in a slow buyers market?
Yes, it’s true – many deals have to be validated by having eager “wholesale
buyers” swamp your web site the second you send out an email, but I think that
many “rookie” and seasoned investors alike are cheating themselves
for a lot of gains by being too impatient.
Lake Los Angeles homes for sale are now MLS listed for half the price that
I paid for my first foreclosure. Do you really think it is hard to make
these deals profitable?
Here’s a solution: Do your homework!
Watch for tomorrow’s post on this blog:
“Top 5 Must-Dos in Real Estate Market Research”
Download your copy of the “Shock And Awe Real Estate Report“:
** How to GET UNSTUCK and rapidly accelerate the
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** How you can connect to a network of proven
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** And FINALLY… how to avoid the 8 common
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