Foreclosure Real Estate Investor - Your Next Career Opportunity?
Investors who have been patient and held onto their
property for many years have seen a great return on their investment in real
estate. The saying
goes, "You can either wait to buy real property or buy it now and
wait." This is known as the "buy
and hold" mentality.
Consider these scenarios:
#1: In 1997, you bought a property for $300,000. You sold
it for $400,000. You get a
great return on your investment, even though you didn't do anything.
#2: A property you bought in January 2007 for $300,000.
It was then sold in February 2007 for $400,000. Better!
Foreclosure real estate is a great option if you find the
second scenario more appealing. These properties won't be advertised on television. Be a bargain hunter. You
can make quick cash in real estate by finding a better way to do so. Simply put, buy low and then sell high. It is sound advice for any business.
The foreclosure specialist will typically search for
properties in courthouses, courthouses and bank REO offices, foreclosure
attorneys, private lenders, probate, bankruptcy courts, and government
auctions. You can now
subscribe to or buy "pre-foreclosure lists" so you will be able to do
some of the "bargain hunting".
If you are looking for a quick way to make a profit, you
will be able to find properties in this foreclosure market at 50-75% below
their fair market value. What if the process of finding and evaluating these
properties was something you enjoyed and that you were able to find one, two or
three great deals each month?
Foreclosure real estate investment could be one of the
most stable and secure investments you can make. Take this into
consideration:
- You have an endless supply of properties to choose
from.
- There's no need to be concerned about whether the
product you sell will become out of fashion or if consumer tastes will change.
- You can live and work wherever you like.
The foreclosure real estate investor can also use many
strategies and options, not only buying from distressed sellers or at a bank
auction.
1 Bank repossession
2 Auction
3 Purchase a junior mortgage
4 Buy directly from the owner
5 Lease options
6 Fee for a loan broker's finder
7 FHA/VA Insurance Programs
8 Private Mortgage Insurance Repossessions
9 Purchase Partial Interest
10 loan to homeowner
11 Purchase judgment at a discount
12 Options
These topics will be discussed in future feature
articles.
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