This is the Motivation of the Out of State Buyer

Posted on June 29, 2007. Filed under: Internet for Real Estate, Media for Real Estate, Out of Town Buyers, Real Estate Marketing |

I encountered a commercial mortgage broker on a streetcorner in San Francisco, CA.  After learning of my backround in real estate investment, he said these words, and I will never forget it:

“Well, I haven’t got a lot of money, but I have got just over one hundred thousand dollars in ready funds available for cash, and I would like to learn how to get a higher rate on investment through real estate.”

Now consider his market and the context of his statement. The city he lives in has a median home price of $736,800, and is the 4th most overpriced real estate market in the country, according to a recent study by Forbes.com.

No wonder he has become a cash buyer looking to invest his dollars elsewhere. How many of you would appreciate a cash buyer for your listing who could close on the property within a week without the hassle of financing contingencies?

 I thought, wow, you could buy several cash-flow properties in rapidly appreciating markets for that kind of money, or you could just privately lend that money secured by equity for a higher rate of return against real estate investment.

Thus, the emergence of today’s need for classified, media, internet, and just generally out of state campaigns for real estate.

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