| What is your area of interest in Real Estate? |
| Flipping |
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25% |
[ 1 ] |
| Rehab |
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0% |
[ 0 ] |
| Short Selling |
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25% |
[ 1 ] |
| Foreclosures |
|
50% |
[ 2 ] |
| Lease options |
|
0% |
[ 0 ] |
| Subject to |
|
0% |
[ 0 ] |
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| Total Votes : 4 |
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| Author |
Message
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| gncsmith |
 Posted: Sun Jul 03, 2005 9:16 am Post subject: What is your area of interest in Real Estate? |
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Investing Sr. Associate
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| What are you interested in the most? I have a desire to study real estate to investing and making money, but I'm just getting started. I'm not quite sure how to begin since I haven't the funds available to outright buy another home. I've been reading about some creative methods out there to acquire another house for various real estate ventures, but there's not a lot of discussion here about them. SO, I thought I'd just try to get something started. |
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| Grimreaper |
| Posted: Sun Jul 03, 2005 9:55 am Post subject: |
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CFO
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| The absolute best way to profit in single family homes is to buy them during the first stages of the foreclosure process by working directly with the homeowner, the foreclosure process begins at your local courthouse, so you can look for prospects by keeping track of the new foreclosure cases as they become public info, I would narrow the field down further by only looking for those homes with 1st mortgages that were taken out at least 5 years ago, in the past 3 years the banks have been lending money on inflated appraisal values, by working with only the homes that were bought 5 years ago (and are only encumbered by those first mortgages and no other second mortgages or other leans) you will in essence be dealing with prices from 5 years ago, the 1st mortgage holder (bank) will of course have tons of fees tacked on because of the default, but those fees can be negotiated out, you should be able to find many target homes in any city in the U.S., another area of RE that should soon be seeing a strong pickup in demand is working with/for a company who gets properties reassessed for tax purposes for a fee, many home values are over-assessed right now, and many homeowners are getting concerned about the amount of property taxes they pay simply because home values have risen 60%+ since 2001, especially retirees on a limited income who live in high growth states like Fl for instance. |
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