This area introduces you to the concepts and basics for understanding the foreclosure landscape, and some interesting facts and figures to help you on your way to be successful foreclosure investor.
Why invest in foreclosures or distressed real estate? We go over some of the major benefits and points that make a strong argument towards getting started with real estate foreclosures.
In this section, we cover some of the standard and often misunderstood definitions related to distressed real estate and the foreclosure process. What is a 'judicial foreclosure', 'lis pendens', or 'trustee sale'? You'll find out here.
Pre foreclosures are the first stage of foreclosure activity.
In this area we cover how to help a homeowner in distress and how to mitigate further damage to their credit.
Also covered are tips for approaching and negotiation with the distressed homeowner about purchasing his/her property before a formal real estate auction is announced, and advice on 'closing the deal.'
What drives home auctions? What choices do bidder's have? Learn how to best take advantage of the fantastic opportunities you have to purchase truly affordable housing at bargain-basement prices and how to avoid cheap homes that may not perform as well others for return on investment.
REO properties (short for Real Estate Owned) or bank foreclosures are tremendous opportunities - but how does one tap this resource? Learn the basics here and leverage the banks' own interest in disposing of their defaulted property inventory for pennies on the dollar
Just like banks, the government is motivated to rid itself of government repossessed homes. Not only HUD, but VA, Fannie Mae, Freddie Mac, FDIC and GSA mortgages are also vulnerable to default. There is much opportunity to find deals with VA foreclosures, HUD homes or a Fannie Mae foreclosure. We'll cover some of the finer points about finding government properties in this section.
Tax sales are a means by which the local government can collect unpaid property taxes. Laws vary from state to state, but the opportunity to purchase property at below market prices is available everywhere in the US via a tax sale. We touch on some of the basics here to help guide you around the topic of tax liens and tax defaulted properties.
Short Sales represent a wonderful opportunity to pick up a property below the property's remaining loan amount. Obviously, this implications for savings using a short sale approach can be phenomenal, if certain conditions are met. In this section we go into detail about how best to approach this process and conditions needed to push a short sale package through to completion.
FSBO properties are those where the seller acts as the selling agent. In doing so, listing costs are reduced, and these savings can be passed on to potential buyers in the form of lower purchase costs. We'll cover this in more detail here.
Financing real estate with Balloon loans, Adjustable Rate Mortgages, Fixed Rate Mortgages, and Leveraging... we'll explain what these are and the nuances of using these to secure a loan for your property. Read this section to get a better grasp on the options for financing real estate and the type of loan you'll want to pursue based on your situation.
Here we explore some alternative financing and other options to secure funding - touching on options such as rent to own, using your current home equity, owner financing, hard money loans and equity sharing.