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So, You Wanna Buy Pre-Foreclosures?
So you wanna buy pre-foreclosures? or at the courthouse steps? So many people ask us about this. Here's our '30 second seminar' on it. If you're going to buy PRE-foreclosures--after the seller is behind on her payments, but before the lender's auction date-then there are some pros and cons to consider. Pros: 1) you've got a good possibility of buying the house subject-to the loan from a very motivated seller who just wants out. 2) you don't need to do any marketing, just read the foreclosure notices (more on this later), pull some comps and do drive-bys. 3) There are several *thousand* foreclosures published each month, in the greater Atlanta area-plenty to choose from. Cons: 1) You've only got about 3 weeks (to beat the courthouse auction) to contact homeowners and get signed contracts, title work, funding, etc. 2) Most pre-foreclosure homeowners are in denial about their situation and/or mad at the world due to all their stress and debt collection calls they get. Soooo, they're usually not very open or friendly to you and your offer. 3) Most really good deals are redeemed (caught up) by the homeowner, and the foreclosure cancelled, just before the courthouse auction. Say you decide to jump in and 'play the PRE-foreclosure game'. We'd recommend you subscribe to the Atlanta Foreclosure Report at www.equisystems.com/default.htm (about $600/yr and we don't receive any commission for recommending them), and get the monthly list online. Also, consider doing a lot of bold, cut through the clutter mailings to the pre-foreclosures you're considering, to get their attention and have them call you. Remember, their mailbox and answering machine is filled with debt collection stuff. You need to stand out, and hit them often. You might want to mail a different neon postcard or lumpy mail (trash can, stick of dynamite, handcuffs, etc.) *every few days*, until they've grown to like you or are curious enough to call you. If you choose to skip pre-foreclosure and actually buy foreclosures at the courthouse steps-then you're dealing with the foreclosing attorney and the lender, not the homeowner. The biggest things to keep in mind is you're expected to pay all cash by the END of the auction day; you'll have to run your own title exam in advance; and you'll probably have to guess what condition of home interior is since homeowner may not have let you inside. Another option is to buy the note/mortgage for cash at a deep discount, direct from the lender, prior to the courthouse auction. You don't have to deal with the homeowner that way, but you do have to have access to funds, and you will still have to do your own foreclosure after you buy the mortgage. Best of success & abundance, Lou Castillo FREE! Real Estate Investing Secrets To Earning $100,000 Your 1st Year! -- 11 Overlooked Real Estate Strategies That Will Turn Your Investing Business upside Down And On The Fast Track TO Success...Guaranteed! Plus A Bonus Track With A Secret So Successful It Can Double Your Investing Income Overnight! http://www.InvestorSuccessTactics.com
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Government foreclosed properties are sold in all 50 U.S.
states, Canada, Guam, Puerto Rico & the U.S. Virgin Islands at bargain
prices. Agencies like HUD/FHA, VA, Fannie Mae, & Freddie Mac
provide financing for foreclosed properties for as little as $0-$5% down. Foreclosed
or seized Government homes
can be a very good deal!
A Possible Bargain: Foreclosed Properties
At a time when real estate prices are soaring there are still many
opportunities to buy properties that are 30%- 40% below market value.
Foreclosures are one of the best ways to find great bargains.
10 Tips for Investing in Distressed or Foreclosed Properties
Foreclosure properties are potentially the most profitable, but require the
most attention to detail.
Foreclosure
Foreclosure under a mortgage requires a court ordered sale conducted by the
sheriff or other court-appointed official.
Foreclosure Home Deals
Did you know that you can save tens of thousands of dollars on the purchase of your home by investing in a foreclosure or preforeclosure
property?
Rehab Foreclosed Houses the Right Way and Keep All the Profits!
I've been teaching people how to buy foreclosure properties for a long time. And we all make the biggest profits on the deals that we rehab the right way. But this does NOT mean what you might think!
So, You Wanna Buy Pre-Foreclosures?
So you wanna buy pre-foreclosures? or at the courthouse steps? So many people ask us about this. Here's our '30 second seminar' on it. If you're going to buy PRE-foreclosures--after the seller is behind on her payments, but before the lender's auction date-then there are some pros and cons to consider.
Finding Southern California Real Estate Foreclosure Property
At one time finding distressed properties was primarily in the hands of
experts that make a full time living purchasing southern California real
estate foreclosure property. Things have really changed and the process no
longer is limited to those in the know.
Death, Taxes, and Foreclosures
So how do you find the best foreclosures? Its not easy as the business is very competitive, especially in this current crazy real estate boom.
Firstly you must be methodical as well as diverse. Deals are all over the place. It is recommended you specialize in an area that you are familiar with.
Getting Started in Real Estate Foreclosure Investing
With the increase in Real Estate property appreciation rates across America,
a prospective foreclosure buyer may want to fix up a property to improve its
value to live in, to rent out or to resell.
Negotiating A Short Sale - The High Road to Huge Foreclosure Profits
Buying foreclosures can be extremely profitable for real estate investors.
You can "create" your own equity by negotiating a "Short Sale" with the bank
or lender. The concept behind the short sale is simple: your goal as a real
estate investor is to convince the bank to sell for less that is owed as
payment in full.
Cashing Out of Preforeclosures - Exit Strategies for Maximum Profit
One of the quickest ways to real estate profits is through preforeclosures.
Buying Foreclosures - Knowing Why Helps You Buy
Knowing why the owner is losing their home can help you connect with them
and gain their trust.
From Foreclosure to Forbearance - The Art of Negotiation
As an active real estate investor you probably already know that the most
important phase of your investment is when you buy the property. Most of us
are getting the bargains in the foreclosure market.
The Value of Foreclosed Property
In general, foreclosed properties sell at a substantial discount and this
discount is larger when foreclosure occurs early in the loan's life.
What is a Foreclosure?
Many people feel that they can purchase these properties for almost nothing and sometimes that is the case, especially tax sales. I know of some that have sold for less than a few thousand dollars.
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