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Dealing with time wasters will probably drive you out of the real estate investing business so here's a formula to pre-screen sellers quickly. It's called the MARLA formula and it consists of 5 magic questions. Here's what the MARLA acronym stand for: Motivation, ARV (after repair value), Repairs, Loan balance, and Asking price. These are the 5 magic questions: 1. Why do you want to sell your house? 2. What's the market value of the home? 3. Does the property need and fixing up? ...
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1. Awareness. They were aware of the market shifting right under their feet. They didn't go "bubble" crazy and spread the fever. They were aware, not afraid. 2. Adaptabilty. These savvy investors who are still profiting (some even MORE now) realize they have to adapt and overcome. When the market shifted, they shifted with it. 3. Speedy Implementation. They spent very little time researching and more time taking action. They did not wait; they acted. 4. They Take Their Real ...
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There are many economic and market forecasts and predictions, however the bottom line is if you want to buy your first home—there is no wrong time. There is because the motivation to buy is not determined by regional market conditions or by location. Industry opinions, economic reports and investor speculation do not sway or predict when a particular individual will be ready to buy. For the great majority of folks, the most compelling reasons to buy a home are based on individual ...
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