They say that opportunity knocks only once, are you ready to seize the opportunities in real estate now that it’s knocking?
Ever since we read the book “Rich Dad, Poor Dad,” my husband and I began to saw the potential and opportunities real estate investments can bring. We started reading the other books in the Rich Dad’s Advisors series (The ABCs of Real Estate Investing, The Advanced Guide to Real Estate Investing, Real Estate Riches and The ABCs of Property Management) and these books encouraged and guided us in our quest for a great investment property.
When we bought our first multi-family investment property about two years ago, it was a short sale. Despite reading the books on investing in properties, we didn’t anticipate how a short sale can be much harder and longer than a traditional sale. There are more forms to fill up, more documents to submit and it takes a while (a long while, may I add) for the negotiations to be completed before the parties will be able to finally close the deal.
It is true that short sales are such a great buy because you can purchase the property at a price that’s relatively much lower than its current market value. However, if you are not familiar with the short sale process, you would easily get impatient. We almost withdrew because we felt that the whole process is taking a long time and it’s like never coming to an end. It doesn’t take weeks, it takes months!!! That’s why we were so happy (and relieved) when we finally closed the transaction.
If you’re planning to buy a short sale property, there is one tip that I want to share with you: get a knowledgeable and efficient realtor who will guide you through all the process. We did, and we’re happy with our purchase.
They say that the real estate market is on its way to recovery. Now is the time to invest. Seize all those real estate opportunities before you lose them. Remember, opportunity knocks only but once!
Disclaimer: This is a sponsored post however all the views and points are 100% mine.