Preforeclosure Investing: A Pocket Summary
A low cash down payment on a preforeclosure is possible if structured properly.
You have ample time to research preforeclosure properties - you can buy a preforeclosure property up until the day of the foreclosure auction.
Unique and flexible sales agreements are possible.
Acquiring a preforeclosure property affords you a real estate investment at a discount averaging from 20% to 35% off market value.
When you buy a preforeclosure, you help save the homeowner's credit by avoiding a foreclosure auction. As with all real estate investing, preforeclosure investing has some cons as well as pros. Though buying preforeclosure property can be highly profitable, you should consider these points:
It is sometimes difficult to contact the owner of the preforeclosure property.
You will usually have a lot of competition - it's no secret that preforeclosure investing can be lucrative.
The courthouse research to find preforeclosure property can be time-consuming.
You may need to negotiate with any holders of liens on the preforeclosure property. Weighing the pros and cons, if you decide preforeclosure investing is for you, follow these basic steps for success:
Locate loans in preforeclosure.
Contact your county court.
Search for County Recorder preforeclosure data online. A free resource to use is www.netronline.com.
Lo ok in the "Legal Notice" section of the newspaper for foreclosures and upcoming foreclosure auctions.
Evaluate and narrow selections to pursue
Inspect the preforeclosure property
Evaluate the property owner's needs
Determine the market value of the preforeclosure property, fix-up costs, potential sales price and profits
Arrange default work out by negotiating with the owner and the lender
Close on the property, repair and resell it quickly. Despite a little necessary time and effort, investing in preforeclosure properties can be well worth it.
Related Tags: property investment, pre-foreclosures, foreclosute investment, preforeclosure
Ada Smith is a real estate investor who has applies the principles described in several pre-foreclosure investment courses
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- 5 Reasons to Buy Jasper Real Estate
Jasper is a small town in North Georgia and it is growing rapidly. Since North Georgia Foreclosures - Ellijay Real Estate
Ellijay Georgia has always been known for it's outdoor activities and seasonal festivals. Downtown E - How to Deal With Blocked Drains
A blocked drain is an occurrence that happens eventually to all households. You may have experienced - The Benefits of Hiring a Plumbing Consultant
Your dream home may not always be brand new, with fresh paint and home essentials. There are certain - The Worst Mistake You Can Make When You Apply to Rent a Home
A whole new class of people has become renters and potential renters in America during the last thre - State of Individual Real Estate Markets
Everybody is well aware of the hit that the real estate market has taken over the past three years. - Thoughts on Avoiding the Landlord Trap
I've heard several people say they would never invest in a multifamily rental property because they - An Idea to Increase the Bottom Line of Your Investment Property
Are you pretty sure that you've already maximized the income coming from your property? If you've cl - Finding the Value of a Piece of Investment Real Estate
There is a lot of confusion about how much investment property is really worth. We'll look at three - Arkansas Land For Sale - Search Engine Optimization and Your Website
If you have Arkansas land for sale and are interested in advertising it on your website I have a few
Most viewed articles in this category:
- How High Did Home Prices Really Go
The U.S. Census Bureau released data on Tuesday that revealed where the nation's hottest markets wer - New Homeowners Tips for Household Safety
With so many items on their ¡°buying a home¡± checklist, few homeowners take into considerati - Truth About VA Foreclosures
Many people now days are finding themselves out of work and not being able to make the mortgage paym - Avoid Rookie Real Estate Investing Mistakes
When Robert Kiyosaki, author of the Rich Dad book series, bought his first property he was, of cours - Finding The Perfect Roommate On Craigslist
Craigslist, Roommates, and The Concerns Craigslist is "great" when it comes to looking for housing - The Forgotten Secret To Selling Property - Simple, Quick And Cheap
Why spend big dollars trying to get people to drive a long way to see your house, when your best pro - Get Amazing Results Selling Real Estate Online
This is the age of the internet. Why not take advantage of the widespread use of the internet to ad - Dallas Real Estate Information
In the United States, Dallas is considered as the second leading state according to the area. If any - The Largest Private Equity Indian Real Estate Deal
In the largest private equity deal won by the real estate sector, Morgan Stanley Real Estate has inv - Fractional Real Estate Ownership
Fractional ownership of vacation ski condos is growing in popularity. Park City Utah a popular ski t
