Siva, getting properties that cheap does not happen often, but it can happen.
Usually there is something to cause distress for the seller. Perhaps they have run out of money and can't make the payments and the bank is about to foreclose. Or there has been a death that affects the ownership.
I got one very nice bargain when the seller had neglected to pay his income taxes and he had to have cash immediately to pay the IRS (Internal Revenue Service) or risk going to prison.
Sometimes the properties are purchased very cheaply from the bank after thay have foreclosed.
Nobody is getting normal every day properties for 40% discount. Nobody is finding many properties for 40% discount.
But if you hunt for the properties and keep looking, you can find a few of them. You notice that the original poster is telling everyone he comes in contact with that he is buying discounted properties. At some point, someone that he asks will know where one is available.
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