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There are three types of foreclosure investing, know the risks and benefits of each
There are three distinct kinds of foreclosure investing opportunities. Understanding the risks and benefits of each is key to your success as a foreclosurfe investor. They are: the "Default/Pre-Foreclosure" phase, the "Auction/Sale" phase and the "REO" phase. This blog post discusses the risks and the rewards of each opportunity.
Buying Pre-Foreclosures
Buying pre-foreclosures involves working directly with the homeowner and sometimes the lender. Your goal is to create a Win-Win scenario. One win is for the homeowners (they make a sale) and one win is for yourself (you buy the property at a substantial discount).
To accomplish a successful purchase, most experts recommend the following: (1) locate loans in default, (2) evaluate and narrow selections to pursue, (3) inspect the property, (4) evaluate the property owner's needs, (5) determine the market value of the property, fix-up costs, potential sales price and profits, (7) arrange default work out by negotiating with the owner and the lender, (8) close on the property, repair and resell it quickly.
Pros: This is a great investing opportunity if done correctly. Discounts off market value can range from 20% to 35% on average. A low cash down payment is possible if structured properly. You have ample time ... more

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