Foreclosures

Nov 05 2008

Will a Moratorium on Foreclosures Stop Investors?

Posted by: reipro, in Foreclosures

One of the things that is getting a lot of attention over the last few weeks is the fact that a number of different mortgage lenders - including JP Morgan - have been considering a moratorium on foreclosures. The reality is that the idea of having foreclosures come to a stop is something that disturbs a number of real estate investors.

The reality, however, is that if you are a real estate investor who is looking for the chance to look at what could stand between you and your success as an investor, a moratorium on foreclosures is not necessarily going to have an impact on your business. In other words, while it could stop those investors who only look at buying foreclosures, those who are willing to take a closer look at multiple options will still have those options.

Evaluating deals is one thing that will help you to see that there are more ways to invest than simply looking at foreclosures - that there are motivated sellers out there and options that can help you to make other deals. Working with a mentor can help you to learn more about all of the options that are available to you. Looking at all of your options (which, yes, do include foreclosures) will help you to see that there’s little that can fully stop you.

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Oct 23 2008

Foreclosures Provide a Variety of Opportunities

Posted by: reipro, in Foreclosures

Yes I have said it before and, if you keep coming back to the blog, you’re more than likely going to see it written here again: investing in foreclosures is not always going to be the best way for real estate investors to create a sound financial future for their families. Investing in foreclosures, depending on how you go about it, is something that may even end up costing those investors who don’t carefully evaluate the deal more than some other properties would. However, that doesn’t mean that you should never look at foreclosures.

When most investors - particularly new real estate investors - think about purchasing foreclosure properties, their focus is on flipping the house. The challenge is that in a real estate market where the buyers are the ones with the power, this isn’t the time to start flipping houses. But remember, there is not just one opportunity that’s available when you invest in a foreclosed property.

Another great option that you will find is that when you buy foreclosed homes, you just might have the opportunity to earn a living as a landlord. The more that there are foreclosures in an area, the more that you will find families looking for housing - you have the opportunity to provide it. In other words, when it comes to foreclosures specifically - and real estate investing in general - you’re going to find that you want to look at all of the possibilities, not just the one that seems the most clear.

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Oct 18 2008

Are Foreclosures the Best Deals?

Posted by: reipro, in Foreclosures

When you’re getting started as a real estate investor, chances are good that you are going to want to take a closer look where to get the best deals. Given the high incidence of foreclosures in many real estate markets, you might be tempted to think that foreclosures are the best option if you want to be able to get a bargain when you buy a property.

The reality, however, is that foreclosures are not always a sure-fire great deal. When you’re looking to profit through real estate investment, you’re going to want to be sure that you are looking at getting a great price; in some cases, foreclosure listings are going to have many buyers interested - and that’s going to drive prices up.

In other words, when you are getting started as a real estate investor, keep in mind that some foreclosures will be a great opportunity, but it’s not a sure fire thing. You are going to want to make sure that you are looking at all of the alternatives and to know that you’re getting the best deal each and every time - even if it means looking beyond foreclosures and bank owned properties and seeking better deals for yourself.

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Oct 07 2008

Foreclosures Shouldn’t Dictate Your Entry into the Market

Posted by: reipro, in Foreclosures

A number of people who are thinking about getting started as a real estate investors think that the best reason to get involved is the high rate of foreclosure properties that are currently on the market. While foreclosures can represent a great opportunity, one of the things that you’re going to find is that the foreclosure market isn’t the best reason to start investing.

To put it simply, foreclosure properties can be in fairly bad shape if the owners have neglacted them; for investors, that means a lot ore work that needs to be done before the property can be lived in or sold. Similarly, those who only look at foreclosure properties as a great deal may find that they are in a position in which they aren’t considering the market; if every other home on the block is in foreclosure, it’s going to be tough to turn the property around.

In other words, simply looking at the opportunities presented by foreclosures is not going to help new investors to take a closer look at the big picture; in order to get started, it’s important to take a look at more than just foreclosures and opportunities - you need to look at yourself, your commitment and at finding the tools that you need to succeed.

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Sep 23 2008

Foreclosures: Why You Shouldn’t Wait Until Auction

Posted by: reipro, in Foreclosures

If you are going to build your real estate investment business on foreclosure properties - something that can work remarkably well, if you do it the right way - one of the things that you are going to want to be aware of is that it is not worth it to wait until the foreclosed properties go to auction. Simply put, waiting until everyone else is making an effort to by the same foreclosure properties doesn’t make sense.

Here’s why.

When it comes to foreclosures that make it to auction, sure, it may still be possible to get a decent deal, however others - including individual homebuyers who are looking for a bargain and even real estate buyers’ agents who are looking to get a great deal for their clients - are going to be bidding against you. That does two things. First, it drives up the price and then it makes it easy to get caught up in a bidding war - which means there’s a likelihood that you will exceed your budget.

In some cases, you’re also going to find that waiting until the auction is going to keep you from evaluating deals effectively and can stand between you and a home inspection.

In other words, if you want to make your living based on foreclosures, make an effort to get and stay ahead of the curve rather than waiting until everyone catches up.

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Sep 15 2008

Should You Be Looking at Foreclosures?

Posted by: reipro, in Foreclosures

You can’t turn on the TV these days without hearing a few points about foreclosures - the number of people who are facing foreclosure, the impact foreclosures are having on the housing markets in most areas and the so-called opportunities that foreclosures can offer investors. However, when you are just getting started as a real estate investor, one of the things that you’re going to find is that, well, foreclosures may not present the best opportunities for your business.

Yes, when homes become foreclosures it is true that the prices can be a lot lower than the value of the property, however it isn’t always true that foreclosures will be in good shape when you buy them. It’s also possible, once foreclosures go to auction, the savings will not be as significant.

For every real estate investor who gets started, there is a right way to go about it and a wrong way. In some cases, investing in foreclosures is a great idea and the investors who make that choice will excel. For others, foreclosures are not going to be the key to achieving their goals. In terms of achieving success as a real estate investor, you need to be sure that you know where foreclosures fit in for you.

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Sep 10 2008

Investing in Foreclosures: Coming in Ahead of the Game

Posted by: reipro, in Foreclosures

One of the ways that many people get into the business of real estate investing is to look for those properties that they can by for a low amount that they will then be able to sell for more (buy low, sell high, just like the stock market). For this, foreclosures are often the best option - the fastest way for real estate investors to find success.

The challenge is that, in order to buy foreclosures, you’re going to want to be the first to find out about them; you need to be able to act before all of the foreclosures in an area are added to a list and sent out to the masses.

In some states, finding foreclosures will be as simple for the investor as opening the daily newspapers. Many areas publish a list of foreclosures on a given day, so do some groundwork: call the publisher and find out which day that is.

In other areas, however, the process of foreclosure needs to be done through the judicial system. If you’re in a state in which the bank needs to file documents with the courts before foreclosing, making a great connection at your local courthouse will help you to learn which homeowners are in rouble - and before others do.

By doing some legwork up front, real estate investors who want to focus on foreclosures will find that their businesses become more successful.

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Aug 25 2008

Foreclosures: A Few Things to Keep in Mind

Posted by: reipro, in Foreclosures

When you’re looking at building a business as a real estate investor, one of the things that you’re going to want to be sure that you are thinking about is foreclosures. After all, foreclosures can create a great situation for those who are looking to purchase a home (or other property) at a discounted price.

But before you make a commitment to investing in foreclosures, there are a few key points that you are going to want to keep in mind:

When you’re thinking about investing in foreclosures, you’re going to want to be sure that you are willing to hold on to the property for a while in order to be in a better position to turn a profit
When you’re thinking about investing in foreclosures, you’re going to want to be sure that you are evaluating the deal because sometimes it isn’t going to be as beneficial as it looks
When you’re thinking about investing in foreclosures, you’re going to find that it’s important to be patient and to give it time because, well, sometimes it can take a while

In other words, when you’re thinking about investing in foreclosures as a part of your real estate investment business, it’s a good idea to make sure that you’ve thought it through.

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Aug 13 2008

Are Foreclosures the Best Option?

Posted by: reipro, in Foreclosures

When you’re thinking about real estate investing, one of the options that you’re going to consider - especially given the housing market in a number of areas these days - is going to be whether or not investing in foreclosures is going to be the best option for your needs.

Foreclosures can be a fantastic opportunity - however that doesn’t mean that foreclosures are your only option, nor does it mean that you’re going to want to focus on foreclosures as your primary option.

When you’re looking at foreclosures, yes, it is possible to get a property at a lower price, but you may not be able to get the property on your time frame. You’re going to find that even when you’re focused on foreclosures, in other words, you’re still going to want to be sure that you are evaluating the deal.

In other words, you’re going to want to be focusing on your goals and knowing whether or not foreclosures are going to be the best option for helping you to reach them.

Whether you’re thinking about foreclosures or not, the key to successful real estate investing is to know that you are making those investments that are right for you and for your business. By evaluating each deal (and feeling confident that you’re working with the right mentor) you can be sure that you’re choosing our best option - and that’s what will help you to grow your investing business.

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Jul 25 2008

Foreclosures: Where It’s At Today

Posted by: reipro, in Foreclosures

Foreclosures are a hot item just about anywhere in the country right now. That’s because a few years ago, when the economy was pumping like Arnold Schwarzenegger in his bodybuilding days, mortgage companies were selling adjustable rate mortgages left and right. People were eating it up. Too bad for them because the mortgage companies won - at least on the short term - and now, well, it seems there is an opportunity for anyone who can recognize it. And that opportunity is in foreclosures.

As the interest rates started to climb after 911, and really really climb in the last couple of years, people’s mortgage interests reach unaffordable levels. I guess they didn’t think of that!

Since their incomes didn’t go up and their mortgages have, not to mention their fuel bills, people just can’t afford the same level of lifestyle any more. They need relief. We call these people motivated sellers.

All you have to do to get in on the foreclosure market is to identify who the motivated sellers are and understand the mortgage process. I can help you with both of those. Subscribe to my newsletter and you’ll learn everything you need to know to cash in on the very lucrative foreclosure market.

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Real Estate Investing Blog

Archive for the 'Foreclosures' Category

Will a Moratorium on Foreclosures Stop Investors?

Foreclosures Provide a Variety of Opportunities

Are Foreclosures the Best Deals?

Foreclosures Shouldn’t Dictate Your Entry into the Market

Foreclosures: Why You Shouldn’t Wait Until Auction

Should You Be Looking at Foreclosures?

Investing in Foreclosures: Coming in Ahead of the Game

Foreclosures: A Few Things to Keep in Mind

Are Foreclosures the Best Option?

Foreclosures: Where It’s At Today

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