Even serious real estate investors fail to consider the many, many different investment strategies that are out there. We all know that finding desperate sellers is the best way of helping others out of a bad situation while making a profit for you.
Some people think it is unethical searching out distressed property owners to take advantage of their bad luck to enrich yourself. However, what you are doing is really offering them an option they otherwise wouldn't have. You're possibly enabling the seller to walk away with at least some money instead losing everything in a foreclosure.
What follows is a short list of ethical ways to acquire real estate at a fraction of its resale value:
You've heard it time and time again that successful real estate investing requires buying at significantly below market value. That means buying properties that retail buyers won't touch because of a problem. Damaged foundations and drug houses are great examples. It also means holding out for just the right property such as a divorce, unpaid taxes, and properties in trouble for other reasons. Becoming a successful real estate investor isn't difficult but it requires constantly monitoring the market and being patient for the right deal to appear and acting fast when it does.