The real estate industry and its opportunities 5
So auction or not? Today we talk about another real estate opportunity.
The auction is an excellent tool, in addition there’s no geographical limits, so you can select any Court.
But as I have already said, it is a gamble, because the chances of winning one are few.
The opportunity to make a real deal is represented by the excerpt.
Do you remember I said it is a challenging activity?
The excerpt is first and foremost a complex operation, for which you must rely on competent professionals helping you evaluate many aspects of each operation (banking, legal, etc.).
You also need to get out of your comfort zone. Why? You have to put your face on it. Actually, once the auction has been selected, through the identification data it is possible to trace the name of the debtor.
And that’s all up to you. What does it mean? You know where he lives, you have to go and contact him, ring his buzzer or look for him on the social media, today for better or for worse anyone can be traced.
You introduce yourself, you tell him what you can do for him, we do it ethically, we don’t ask for money, but possibly we really help the debtor.
If you convince him, then you will have him sign some proxies.
At that point, as anticipated, you will need some professionals: ie., the one negociating with the bank and the other creditors (normally the bank, the condominium, etc.; if the Tax MInistry is involved, forget it. They want all the money and you cannot negociate witht them).
In brief our organisation will negotiate with the creditors the maximum investment amount you will have established for your deal. In case the parties accept, then you will have made bingo!
You will win a property for the amount you defined and in the resale you will get the desired income.
Of course, creditors may not accept, but when the bank has to demand money, they will very easily accept.
Nowadays banks have large amounts of “impaired” loans, so for them it is ideal to write off. Why?
Because they take the money quickly without spending additional money for bureaucratic aspects and close the cases.
Bear in mind you will have to find the right professionals with competence in this sector.
We cooperate with a professional organisation supporting us in this activity.
If the above if of interest to you, leave your comments and we interact.
Talk soon Francesca