What I Do When I Can't Sell A Property

When A House Won't Sell...

I currently have a house that is a piece of crap. It is in horrible condition in a less than "aspirational" neighborhood. I've sent this property out to my buyer's list, marketed it online, posted it to online classified sites, syndicated it to other wholesalers, put out bandit signs and still haven't been able to sell it.

Get A Price Concession

Whenever I have this much difficulty selling a property like this, its usually because the price is too high. So I went back to the owner and got a pricing reduction and I think I've gotten the price as low as I think we're going to get it. I've even gotten him to agree to a structured purchase as well but the property still isn't selling. So what's a guy to do?

When Price Reductions Don't Work

I learned this little trick from Sean Terry via one of his podcasts last year. It's a pretty nifty tactic and while I only bring it out every now and again (because it can be a little time consuming and also has implicit costs associated with it), at the very least, it helps to get traffic to a property. What's this little tactic called?

I Buy & Sell Homes...Sort Of [How I Make Money In Real Estate]

I was on the phone with a friend a week ago who knew that I was a real estate investor but didn't really understand what it is I actually do. The simplest way for me to explain what it is that I do is that I buy and sell homes. The full picture though, is a little more nuanced.

I'm A Problem Solver

I actually don't view real estate investing as buying and selling homes. Just like any other business selling a product or service, I view my job as solving problems. In this case, the problems are property related. Sometimes the solution to the problem is me purchasing a property for cash. Sometimes, it's finding a tenant. Sometimes the solution is restructuring the mortgage for the existing owners. Sometimes, the solution is something vastly more complicated but customized to the situation.