Real estate foreclosure investing can be one of the quickest ways to make money in real estate.
Today’s savvy investors are still able to find good foreclosure sales happening in virtually every real estate market in the U.S.
Foreclosures occur when a homeowner (or even an investor) is no longer able to make their mortgage payments for an extended period of time. The bank or lender will typically foreclose on and take over the property, due to money owed.
STRATEGIC ALLIANCE WILL HELP YOU ASSESS:
• The condition of the foreclosure property
• how much work (repair or rehab) needs to be done to make the property livable
• how long will it take to get possession of the foreclosure property
• how to find your own financing for the property
• What its highest and best use is
You can have instant equity with a foreclosure property, whether it’s a house, condo, or commercial building, if you choose the property wisely. For example, if you bought a foreclosed house in good condition for $100,000, when other comparable properties in the immediate area are appraising for $120,000, you’ll have $20,000 equity the day of closing.
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