Investing in foreclosures provides us as investors an opportunity to help someone who needs help as well as profit from the transaction. So where can you locate these opportunities? One obvious place is to look at foreclosure listings. These listings come from either Realtors or other private sources, thus the importance to have them in your professional team. These lists will become a great source of leads to reach to the pre-foreclosures properties. Another alternative is the industry of bank owned real estate. When properties are lost through foreclosure proceedings, these properties goes back to the bank and becomes one of the many thousands of REO properties on the market today.
To give you an idea of the potential of this industry, according to RealtyTrac, foreclosure filings hit 2.87 million U.S. homes in 2010 (in other words, one out of every 45 homes in the US). That represented an increase of 2 percent when compared to 2009. Once on these properties are in the pool of REO, you can work with a Realtor who specializes in bank owned properties and start making offers almost immediately. In reality foreclosure property investment is not difficult. What is important is that you surround yourself with a professional team who can compliment your efforts in foreclosure investing. Foreclosure investing should not be taken lightly, without the proper foreclosure training, you run the risk of not really knowing what you are doing and losing money. For those interested in learning more about investing and profiting in foreclosure properties I recommend the REO Training Kit.
Foreclosure investing is an integral part of our opportunities for investing in today’s economy and market. The key to your success will be in you having ready access to the tools you need to make sound decisions. As I have continuously suggest to the members of this blog, commit yourself to real estate training, in turn your pursuit of foreclosure investing will be more productive, profitable and more rewarding.
No comments:
Post a Comment