OakLeaf Plantation Real Estate Jacksonville Florida Real Estate

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Hi there real estate investors and entrepreneurs.

I wanted to provide you with a checklist of “buy signals” that experienced income property investors. look for and find when evaluating an investment property.  These are sure signs that you’re on your way to buying your next income property at a substantial discount.

You don’t need to have all seven factors together in one place, but when you find one of these signals, the others are usually right around the corner (no pun intended).

Buy Signal #1: Homeowner Is Behind On The Mortgage Payment

This is an obvious one, but I thought it needed to be included in the list.  Many homeowners who fall into foreclosure cannot bring their account current and end up losing the property at sale.

When a homeowner cannot make the mortgage payments, the property and grounds usually take on signs of neglect.

Buy Signal #2: Grass Is Overgrown

After many years of running the streets as a pre-foreclosure investor, I learned to pick out (in an instant) the house in foreclosure as soon as I turned onto the street.

High, overgrown grass is a sure sign that the house is in trouble and the owners (if you can find them) will have a compelling reason to sell.

Buy Signal #3: Windows Are Busted Out

Busted out windows are usually found in vacant or abandoned properties.

When the owner moves out, sometimes the neighborhood kids like to get together and pull out their personal rock collections and proceed to work on their throwing motions. This usually involves knowing which target to select.

Buy Signal #4: Rotten And Exposed Wood

A house that has extensive rotten wood on the exterior has probably been neglected for many years. You would be amazed at what people will tolerate when it comes to sub-standard living conditions.

One time I met with a seller who had a gigantic hole in his kitchen ceiling. The hole was really big, in fact, you could look up and clearly see the blue sky above. I met with this homeowner for several hours discussing his options.

Not once did the seller acknowledge the huge hole in the roof. This was a very strange experience.

Buy Signal #5: No Garden Hose

I have found this one item in the list to be more telling than any of the others.

Without exception, the green garden hose told me if the targeted house was vacant or occupied.

If the green garden hose was still connected, the house was usually occupied. When the garden hose was not connected or missing, 9 times out 10, the house ended up being vacant.

Buy Signal #6: No Furniture

Usually when you suspect that a house is vacant, you peer into the nearest window to confirm your gut instinct.

You’ll know instantly that the seller has moved on when you see all the empty rooms.

Buy Signal #7: Neighbors Haven’t Seen Them

Usually there will be a neighbor or two that can tell you something about the seller.

If the seller could fix the problem with the house, you could bet the neighbors knew all about it. They are sometimes a very good source of information