How to Buy Foreclosures Tomorrow-or sooner

How to buy foreclosures. Our opinion - unless you like pain, don't do it!

What if there was a higher return method. Would you give it a try?

 

This program can make you insane money!
I've been a licensed real estate agent for almost 17 years. I've helped folks buy literally hundreds of foreclosed houses. Every time I have protected the investor in the deal.

 

In every foreclosure sale, I've walked away with misgivings. I want to tell you why I know foreclosures are a losing proposition. Then we'll touch on the best kept secret on the planet and how you can make way more money in real estate, without buying foreclosures.

 
First of all, it is true that you make your profit by buying cheap. We won't argue that this is a great time to buy. Prices are way low. Don't forget that you are still parking your money. You have payments of taxes and insurance even if you pay cash for the home. Plus you don't get paid big until you re-sell it.
Secondly, if you're going to lease it, take an alkaseltzer now. When you consider that there are a ton of rentals, and that many landlords don't care about profit... profit just isn't there anymore.
Third, rentals are more competitive for other reasons. Folks that would have sold have given up and decided to rent. These folks just want to stop or limit the bleeding.
Reason number four. You don't know about hidden imperfections. Flaws that will later cost you big money. Here's a real life example: One of my clients moved in before closing, after having inspection items addresssed. Oh thank goodness! The client is still leasing the property. However, the settlement won't happen. The home was built with the back left corner at 6 inches lower than the rest of the home. You can literally roll a marble from the front door and it will go down the hall and take a hard left through the kitchen into the back corner. The contractor had to have know about this. The framing was shimmed to make the upper level true. The home can't be jacked up. That will only push the level problem up a floor.

 

5. This will surprise many of you. Prices of foreclosure are increasing to the point where generic sales are competitive. .

Given all that, can you still make cash from bank owned homes?

 

Well, think about this: If a house goes at a bank sale for above the debt owed, who gets the extra money...
Hold onto your hat. That surplus is sent to your local clerk of the court.
The theory is that the court will then tell folks about the money, if they're owed it. There are 3 possible entities entitled. Lien holders, the ex-owner, and mortgage holders
But no one gets told about it. . So the money sits in investment accounts and the county collects the interest. After some time, the money gets sent to the State. The State then collects interest off this money. Think that's on State unclaimed money sites? You'd be wrong. Listen up - that money is up for grabs!. So make real profit from foreclosures here-
How to buy foreclosures

For every minute you remain angry, you give up 60 seconds of peace of mind.
--F. Scott Fitzgerald