Foreclosure Real Estate

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Foreclosure Real Estate

Buying a piece of foreclosure real estate might be one of the best investments one can make today. If you’ve considered going into real estate (or are in real estate) and haven’t checked out the foreclosure market, both you and your wallet have been missing out. Thanks to today’s technology, it’s easier than ever for newcomers to get involved and start making some money.

Sellers Are Quick To Sell Before Bank Takes House

Let’s examine for a moment why a piece of foreclosure real estate is such a great short-term investment. First and most importantly, the sellers need to sell now or risk the bank repossessing their home, which they have probably been making payments on (this is called their “equity.”) They want to walk away from the situation with at least something in their pockets, so they have some assets when looking for a new residence more in their price range.

Secondly, these sellers are often trying to “beat the clock” by selling their house before a time deadline set by the bank, and thus before the bank takes control of the house. This deadline can be as little as a month, and if someone needs to sell a house in a month, you can be sure that the buyer is going to get a bargain on it. And with foreclosures on the rise around the country, competition is thinning for buyers, driving down prices even further.

It Has Never Been Easier To Buy A Foreclosure

These houses will therefore usually be seen on the foreclosure market for a fraction of their value, where people like me scoop them up and resell them at market value. There is a lot more to it than that, but that is the basic plan that every one of my deals follow. And with the internet nowadays, I don’t even have to visit the property to asses its market value; everything I need to buy and sell comes nice and packaged from a subscription service.

Buy And Sell In One Day!

I can research a property, do sales comparables, and estimate a property’s market value without ever leaving the comfort of my office. Often times I will have a buyer for a property before I actually take it off the market: this is called double-closing and is an excellent way for a newcomer to foreclosure real estate to seal a deal and make a profit without an initial investment, or even without credit. And you never deal with high-commission professionals when buying the properties like you would find in a standard real estate market.

Don’t Be Afraid – Jump In Now While The Going Is Hot!

So why aren’t more people getting into the foreclosure market today? Frankly I think it’s because it just has a nasty reputation that it doesn’t deserve. Once upon a time the foreclosure market was a complicated and difficult thing reserved for experts and insiders. But there have been a lot of advances since then and now anyone can gain access to a quality foreclosure list on the internet.

Test Run Subscriptions

Most are paid subscription services, but they will usually provide you with a free trial to “test-run” their listings and make sure they’re good. Personally I’ve been using RealtyTrac; I find that they have the biggest selection of properties out their right now and their information is the most complete. But what do I know— I’ve only been doing this for 15 years!
Photo By Petermara