here have been a lot of way to make a truly horrible
books and late night decision is to avoid any outside
infomercials on how to advice. The best part of this is
become rich through real estate. that avoiding a buyers agent
Apparently, you can become rich usually doesn't save you any
overnight. Neat. But, no one has money since the selling agent
really written a good guide on simply makes more when you deal
how to go bankrupt. Sure everyone with them directly.
is doing it, but how can you get
in on the action. Look for a discount or a
distressed property over a good
First off, watch some late night long term investment. Late night
infomercials on TV. And possibly infomercials and Carlton Sheets
order some real estate tapes from talk a lot about this. Getting
Carlton Sheets. This will provide equity at the point of sale. One
you with a positive upbeat thing about distressed properties
attitude and a sense of false with desperate sellers is that
confidence that is essential in they frequently are in crappy
order to go bankrupt. Believe areas with low appreciation
that after listening to some rates. Buying a property at under
tapes, you can compete with market rate in an area with low
people that have done this 7 days appreciation potential versus a
a week for years. property in a good area is the
kind of short sighted thinking
Second. For your first that will really help you reach
investment, buy in a city you the goal of bankruptcy and
know little to nothing about and foreclosure.
avoid using a buyers agent who
does know the city. Go directly When you talk to people including
to the sellers agent. The best your Realtor, try to spend time
talking about all the crap you you are at assume that its going
learned from your book or light to rain money tomorrow.
night infomercial. The more you
listen to other people, the more Also, be stubborn when renting
you might get different your properties. Decide upon a
perspectives and the higher number say $900 a month and
chance you might learn new refuse to budge. Come up with
things. This could really hurt some bizarre logic about how the
your chances of going bankrupt so property deserves $900 a month.
avoid listening to anyone. Lose months of rent having the
Remember you know everything even property sit vacant instead of
if you only got interested in going down $50 on the rent.
real estate last week. Instead of responding to the
market make statements like "Well
Be positive to the point of the markets wrong then".
stupidity. A lot of investors I
know always think about how their As you move closer to
situation would be affected by a foreclosure, don't alter your
10 or 20 percent drop in the spending habits. Don't move into
market before making a purchase. a smaller house or cut spending.
You should avoid this kind of Act like nothing is wrong.
thinking. You need to be blinded
by greed. You should only Overextend, overextend,
fantasize about how you are going overextend. Are you approved to
to double your money. buy one house. Why not buy 5,
heck why not 20. Instead of
When calculating your monthly building up a portfolio of
cash flow, assume that you will properties over time, gaining
have 100% occupancy all the time experience along the way, just
and no maintenance cost. While buy a lot of properties next
Tuesday.
This is not a definitive guide to
A lot of people are getting into foreclosure. Alot of people end
the foreclosure game. Their is no up in foreclosure due to many
reason you should be left behind. things unforeseen events like
Throwing caution to the wind and unpreventable family illness,
filling your eyes with greed and divorce or job loss. This is
you should find yourself walking simply a guide to what I call
down the golden path to elective foreclosure.
foreclosure.
About the Author:
Escape Austin Real Estate is a small realty company. Their website has a few real estate cashflow calculators.
Read more articles by:
Ki Gray
Article Source: www.iSnare.com 
