I am well known for saying: “I don’t buy properties, I buy problems – I acquire the properties since they are attached to the problems. I solve the problem and make money”. Problems may be with the owner(s) personally, the property itself, or the title to the property. Once you realize that the best deals both financially and easiest to put together are these distressed properties you will be hooked. All other deals will look like too much work.

Next is to negotiate with a win-win-win attitude. The biggest part of putting an excellent and profitable transaction together is ensuring that everyone wins. This means that the seller is happy to “give” you his property, the real estate agent (if there is one) walks away with a commission, and you the buyer get equity, cash, and/or cash flow. With this win-win attitude you will succeed much more than the person who is only looking out for himself.