Investing Foreclosures Online

October 9, 2009 at 2:49 am (real estate investing)
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online foreclosure investing

Most of the human activities today are supported with technology. We have the personal computer that helps us finish our task and project in a small span of time, mobile phone to keep in touch with our family and friends having no regard of location and the internet that helps us to keep up with the global information.

Home investors accounted that the internet shortened their search on foreclosures. The whole foreclosure purchasing procedure took half as long for home buyers who used the Internet as those who did not. Significantly, Internet purchasers spent half as much time with their real estate agents, visiting only half as many homes as conventional buyers before deciding their purchase. They could view listings online and narrow down their search to a small number of homes, they were strongly interested in. The Internet property buyers were also more knowledgeable about the purchasing process, and stated greater contentment with their real estate agents.

At the present time, about 70% of home buyer starts to search for homes and foreclosures online. This is definitely an advantage for investors to add an advertisement online as it usually has a fast respond from a bargain hunter.

The net supports you with countless information about foreclosure buying; selling home and make an advertisement to get the best and fastest solution in selling and buying foreclosure homes.

Make sure though advertising foreclosure property online make sense to your targeted customers. Put the best picture in your ads that majority of the foreclosure buyers gets the first impression from the pictures and of course do not forget to post other key buying points like the location and more. Always remember that there is no second chance for first impression!

Home buyer search ads quickly, so have a thorough yet short, simple and straight to the point posting. Make an attractive headline that will surely take hold of your buyers. Always include important details because potential buyers never leave without keeping a flyer that expresses your home’s finest points and your asking price, mobile number and the web address of your Internet ads.

If you’re not investing foreclosures online, you’re losing a goldmine of potential clients. So make use of technology and be creative on your real estate investing.

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Reo Investing

September 30, 2009 at 5:31 am (foreclosure)
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bank owned houses

Real Estate Owned (REO) property come into existence after the lender fail to sale the house in a foreclosure auction. If unsuccessful to find a buyer the lender or a bank will legally take back the property then find a way to sell the asset as quickly as possible.

Since the bank is liable for taxes of the property it is their interest to instantly get rid of the asset and they are more willing to sell to whatever the minimum value is and this makes good opportunity for investors. Lenders want to liquefy there real estate holdings banks to re-invest revenue into lending business.

REO homes are one of the safest ways to invest a property especially for the novice because it is less risky that the property is free of title liens and other claims. The lender also allow negotiation on costs of rehab, interests, closing points, loan amount, etc. You don’t even have to worry about the eviction process as you sometimes have to deal in the case of foreclosure because it is already taken care of by the bank.

Market an REO purchase is the simplest way for the newbie’s and for the experienced investor because they are easy to find most banks have the listing and they even have departments intended for REO’s. Internet is another good source of bank owned property; investors can search thousands of bank-owned-REO online at dodeals.com.

Though not all REO is a good deal but in general you will discover there is a lot of money to make as long as you know what you are getting into. Similar to any investment scheme, buying these properties is an overall financial plan you have to comprehend the real estate laws, tax ramifications and other financial issues.

The risks and rewards that associate property investing might not just depend on the traits of the house itself, but also the kind of security the home provided to the previous owner’s lender. To keep away from the annoyance of telling foreclosure horror stories in real estate investment circles, an extra mile of meticulous research into a property’s financial history can greatly avoid investment headaches.

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Real Estate Investing Dream Team

August 17, 2009 at 7:24 am (real estate investing)
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real estate team

Many entrepreneurs believe that, if you want something done right. Personally, I believe that is the rationalization of control freaks unwilling to delegate.

In reality, your dream team will help you reach your financial goals faster than you ever can alone.

Sure, you can find motivated sellers and build a great buyer’s list on your own, but other tasks require the expertise of others.

Some of the members of your team should include:

– Real estate agents who can bring you sellers.
– Home inspectors who can spot things you might never notice.
– Rehab crews who work in much less time than you can do could, assuming you
want to pick up a hammer.
– Contractors who can finish off a repair job in next to no time.
– Appraisers who can give you accurate values on given houses.
– Mortgage brokers who can arrange the needed financing for your buyers.
– Hard money lenders who can provide needed financing in a crunch.
– Title company agents who can prepare the proper paperwork.
– Real estate attorneys, who can make sure everything is in order.
– Mentors, who can answer questions when you get stuck, and provide motivation
should you need it.

Some guidelines for dealing with your team:

– Interview all of them to make sure there is a good fit that you are on the same
page.
– Those with 2-3 years fulltime experience work best.
– Ask for referrals from each prospective team member.
– Mutual benefit works best. You want everyone on your team to make money by
working with you.
– Don’t depend on just one from each category. More than one gives you
flexibility. Imagine if a rehab crew cannot get to your job when they are
needed. Or to your buyer’s job. Since you would rather have your fee sooner
rather than later, you want to be able to have another crew on hand.

The more you use your dream team, the easier your job becomes, and
the more money you will make.

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