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Short sale pre foreclosure investing course
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Pre foreclosure investing requires constant communication between you, the bank, and the homeowner due to tight deadlines. Pre foreclosure investing is similar to investing in foreclosure properties; however, the process is slightly different. One of the quickest ways to become successful in real estate is by choosing an investing niche.
Everything from investing in mobile homes to focusing on commercial buildings can be a potential niche. Your niche should be something that you enjoy and see long term potential in. A popular example over the past few years has been with pre-foreclosure investing. This focus is on homeowners who have started the foreclosure process but are still a few months away from actual foreclosure.
What makes this so popular is that you are dealing with homeowners who are motivated to act quickly, which makes finding foreclosure real estate deals easier than you think. Deadlines often spur action and this is certainly the case with this real estate niche. If you are interested in pre-foreclosure investing here are a few things you need to know. Pre Foreclosure Investing: Your Pathway To Success Understanding the benefits of pre foreclosure investing will make you want to change your niche today!
Read on to learn more: Increased Competition. Investing in short sales and foreclosures was extremely popular at the beginning of the decade. Banks were looking to liquidate their assets and would often take 60 cents on the dollar to do so. As the real estate market has stabilized, lenders are not as desperate to sell blindly.
That being said, no lender wants a foreclosure and are willing to sell at a discount to avoid one. Many investors are aware of this and have made this their focus. If you are interested in pre-foreclosures, you need to know that there will be competition. Anyone can purchase a list of homeowners who are ninety days late on their mortgage or have filed a Lis Pendens. They will send out postcards, letters, and make every attempt to reach the homeowner.
You need to find a way to stand out from the crowd. If you can find a way of marketing to reach homeowners, pre foreclosures can be a lucrative niche for you. Understand The Process. As the name would indicate, a homeowner in pre-foreclosure is just one step away from actual foreclosure. In addition to the damage on the credit report, it can make it difficult in to find future housing or get a car loan.
With a foreclosure, the homeowner is forced to leave their property at a designated time and date in the future. This is not easy for all parties involved. If you plan on making this your niche, you need to research exactly how the process works. As soon as a lender hits either 90 or days late, they can begin foreclosure.
To get current on their mortgage, they now need to pay the total amount of what is owed. This is the first hurdle they have to face. We go through the specifics of a dozen ways to get your phone ringing and build a list that you can work over and over. How to Qualify Sellers over the Phone. You will learn exactly what to say to flush out the motivation of the seller and see if he or she is worth meeting.
Effective Negotiation Skills. We give you scripts, gambits, and ploys to effective negotiating with sellers, lenders and anyone else you deal with in the business. Plus, you get to get up and practice it in a role-playing scenario! Contracts and Necessary Paperwork. Legal and Ethical Issues. The secret of how to work the system to beat your competition and get offers accepted. How to Determine Good Deals vs. BAD Deals that can get you into trouble!
How to Find Buyers for resale so you have your short sale property sold quickly and easily. How to get started, get motivated and stay motivated in this business! And, much, more!
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A popular example over the past few years has been with pre-foreclosure investing. This focus is on homeowners who have started the foreclosure process but are still a few months away from actual foreclosure. What makes this so popular is that you are dealing with homeowners who are motivated to act quickly, which makes finding foreclosure real estate deals easier than you think.
Deadlines often spur action and this is certainly the case with this real estate niche. If you are interested in pre-foreclosure investing here are a few things you need to know. Pre Foreclosure Investing: Your Pathway To Success Understanding the benefits of pre foreclosure investing will make you want to change your niche today! Read on to learn more: Increased Competition. Investing in short sales and foreclosures was extremely popular at the beginning of the decade.
Banks were looking to liquidate their assets and would often take 60 cents on the dollar to do so. As the real estate market has stabilized, lenders are not as desperate to sell blindly. That being said, no lender wants a foreclosure and are willing to sell at a discount to avoid one. Many investors are aware of this and have made this their focus. If you are interested in pre-foreclosures, you need to know that there will be competition.
Anyone can purchase a list of homeowners who are ninety days late on their mortgage or have filed a Lis Pendens. They will send out postcards, letters, and make every attempt to reach the homeowner. You need to find a way to stand out from the crowd. If you can find a way of marketing to reach homeowners, pre foreclosures can be a lucrative niche for you. Understand The Process. As the name would indicate, a homeowner in pre-foreclosure is just one step away from actual foreclosure.
In addition to the damage on the credit report, it can make it difficult in to find future housing or get a car loan. With a foreclosure, the homeowner is forced to leave their property at a designated time and date in the future. This is not easy for all parties involved. If you plan on making this your niche, you need to research exactly how the process works.
As soon as a lender hits either 90 or days late, they can begin foreclosure. To get current on their mortgage, they now need to pay the total amount of what is owed. This is the first hurdle they have to face. Every month they cannot make the payment, they face late fees and penalties that continue to add up.
They also receive constant phone calls and letters from the lender providing them with options that can be confusing and intimidating. Here is where you can step in as an investor but you need to know the process before you do so. Homeowner Options. When a homeowner is in foreclosure, their options get slimmer with each passing day. Just look around you. Can you imagine retiring on that? Most novice real estate investors over the last few years have gone broke by waiting for short-term appreciation.
Smart investors make their profits when they BUY! Would you rather buy real estate retail or wholesale? Wholesale, of course!! Bank foreclosures are on the rise and will increase dramatically over the next few years. Those who sit on the sidelines will not. Because banks are highly regulated, they cannot foreclose on all the loans they have that are in default. Instead of student loans, imagine sending your kids to school anywhere in the country, and price is no object!
It may not come again for 10 years, and you will be kicking yourself if you have kids that are 8 years or older! This foreclosure investing course is the only training of its kind that will show you exactly, step-by-step, how to profit from foreclosure deals.
Specific forms, disclosures, and contracts included! How to Find Motivated Sellers in Foreclosure.
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Short Sale and Preforeclosure Investing Made EasyOther materials on the topic
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