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Real Estate is Now on Sale

Now is the time to invest your money in foreclosed real estate.  By taking advantage of the declining real estate market and investing your money into foreclosed homes and properties, you can take advantage of some amazing opportunities to build personal wealth. 

Investing in discounted real estate such as foreclosures and short sales is one of the quickest and easiest ways to make money is the real estate investment industry. 

When a homeowner defaults on his or her mortgage, the lender will foreclose on that property and sell it at a substantially reduced price.  Very often you can find these homes priced well below market value.  And that represents an amazing opportunity for you as a savvy investor. 

How would you like to have instant equity in the property you buy?  Within the current real estate climate the opportunities to do just that are vast. 

Of course, as with any investment there are no guarantees.  So before you buy you should thoroughly check out the current market in the area.  Take into consideration the condition of the home, the market in the immediate area as well as the homes that are comparable to yours that are currently for sale, and also the current average time on the market.  Take into consideration any repairs or upgrades that you may need to take and make sure that you determine how long you can hold on to the property if it does not sell right away.  Most important of all, do your homework and make sure that you buy the property at the right price. 

How do you get started in investing in foreclosed properties?  Well you have already taken an important first step by reading, studying and learning about the process.  Next get a listing of foreclosures and distressed properties in your area.  Check them out on paper first then drive by the homes taking into account the neighborhoods, the condition of the homes surrounding the property and the condition of the exterior of the home.

After you have determined your short list of properties you want to see then make appointments to view the inside.  Make sure you do all of your own due diligence.  Just because you are not going to live in it does not mean that you will not be responsible for certain things as far as the buyer is concerned.  Make sure that you have all inspections completed and that they come back in satisfactory condition. 

This does not mean that there are no repairs but rather that the repairs are something you can deal with.  Many times a lender will sell a home “as is”, as an individual you can also sell a home “as is” but you will be able to command a higher price if the typical warranties are in place.  The typical warranties on real estate generally include roofs, foundations, heating and cooling appliances, electricity and plumbing.  These items may differ in different areas so consult your local  real estate and real estate inspection professionals. 

Right now there are more than 1.8 million distressed and foreclosed properties and the opportunities for the prudent investor are just getting better.  The market will turn, it always does and if you are the one holding the properties at that time you will be the one to enjoy the profits. 

To your Success!

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