If
you are a real estate investor, then you can take advantage of
pre-foreclosure sales. If there is a possible foreclosure situation in
some
lucrative real estate, then you will most likely be able to purchase
the
property at a price much lower than the market value. This happens when
homeowners find it very difficult to meet their mortgage payments.
You can give some time to the mortgager who has been unable to make his payments on time, and in the meantime, make a deal with the property owner. It will be advantageous not only for you, but also for the other parties involved.
In such a case, the mortgage payment can be handed over by the homeowner to you. The balance of the mortgage can be received by the lender, and you can make a good profit out of the deal. Thus, it is a win-win situation for everybody. However, to make good money from the deal, you should always thoroughly check the property that you are buying.
You should try to ascertain the market value of the property you are buying and the various costs that will go with it when you need to renovate the home. If you have can negotiate well, then you will surely be the winner in this game.
Sasha,
Comments (12)Subscribe to CommentsComment