As a real estate investor you soon realize that the more deals you can find equals better deals to choose. I am a firm believer in using every single avenue possible to find a investment property. Friends, family, acquaintances, Realtors, and just about every one else that you can think of. One of the most commonly overlooked sources of real estate deals is your local attorneys office. This is a incredible resource to a real estate investor. Most lawyers are not in the business of selling real estate but it could be a very good side business for them and a great way to serve there clients in the process. I always offer a reward if someone finds a good investment property. I usually save much more than the reward if I can buy the property before the property it gets to the open market.
You may ask how a lawyer would be able to run across good real estate deals. Here are just a couple of ways that this can happen.
Divorce:
Some times in a divorce the couple can no longer keep there main house without two incomes and the need to sell quickly may become a necessity. The lawyer can help out his client by introducing you to them and facilitate that fast sale that they need. Sometimes a couple may not even care what they get out of the property they just want out. That is a great combination for the real estate investor.
Will:
Upon the death of a parent or grandparent the estate will sometimes have a property to sell. The heirs may not want to do anything on the property and may in fact just want to get rid of the property as fast as possible. The best situation to get into is the one where there are multiple heirs and any reduction in your offer will be divided many ways and will not be a big deal to each individual involved.
Lawsuit.
Parties of the lawsuit may need cash and they may need it fast. That is a great situation for you as a investor.
There many other situations that may come up but you can get the idea that a lawyer may be a great source for deals.
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