If we stay in the real estate investing business long enough, eventually we'll own or list a property that will be hard to sell. There is one sure fire way to get every property sold no matter how terrible the property is. Just add cash! Cash is the sugar in the lemon juice that converts the concoction to lemonade. If the lemons are really sour, then it may take a ton of sugar. However, I promise you, if you can add enough cash to any property, and use the cash with the property to buy something else, you will get your property sold. I know that sounds counterintuitive to a lot of investors. First of all, most have never heard of making offers with my property instead of waiting on offers to come in on my property? And secondly, where am I going to get some cash if I don't have any? When you have a true problem property, you may have to zig when everybody else is about to zag. So don't be afraid to make offers with your property. Have the courage to believe that money does follow deals.
Let's test this theory. Who has a property that is so undesirable that it can't be sold? Let's discuss how to get it gone.
This was one of many ideas put forth by real estate “exchangors”” beginning about 55 years ago. The two main remaining exchange associations are NCE National Council of Exchangors, and Society of Exchange Counselors.
Back in another lifetime when I was active in doing exchange transactions, we did a few transactions where hard to sell property was successfully exchanged for more desirable property by adding $ to go with the hard to sell property. In fact, a number of exchangors made a business of acquiring cheap, mostly useless residential lots (those with no utilities and about 30 years from any hope of development) just to put them together with some $ and trade the combination for a income producing property.
While exchanging real property can still be accomplished, one of the drivers￼ of exchanging, sky high interest rates, is long gone.
We are celebrating our 60th year of the Society Of Exchange Counselors this year. That lemonade formula is one of the hundreds of ways to trade property that I have learned attending the marketing meetings. If you want to come back, in this lifetime, just request an invitation. BTW, I have some lots to trade with utilities. 🙂.