By Jason Rodriguez
Today amidst the current economic situation, we need to take advantage of the opportunities that are now becoming available to us in the real estate market, foreclosures. The whole country is experiencing foreclosure activity unlike anything in recent history. And the profits from foreclosure investing can be huge, which is what makes it so attractive.
Ask yourself this question, would you purchase a house for $175K if you could buy the house next door or down the street in the same condition for $100K? I’m betting your answer is the same as mine, No!
I read about a story recently by an Arizona news station which got me excited. The headline was “Foreclosures lure flippers back”; it told the story of a woman who is making massive profits investing in foreclosures and selling/renting them out. I was impressed with her tactic, purchasing houses under $100K, doing little to no cosmetic work, and pricing resale still under estimated home value; her goal is to help to clean up the real estate market and make fast cash at the same time. The article stated that off one deal she would net $20K profit; made me want to join in with her.
I’ll be getting into even more details about how to invest in foreclousres later this month during the Extreme Real Estate Challenge. Not signed up to follow me yet? Go to www.NeckOnTheLine.com
In the meantime, here’s my advice…
Why Distressed or Foreclosed Properties Make Good Investments:
From my personal experiences, distressed or foreclosure properties make good investments for the following reasons:
They are purchased below market value and you have immediate equity.
Quick and easy fix up techniques will increase their value
Foreclosure or distressed properties are mainly bank owned properties, and you will be primarily purchasing the properties from banks or financial institutions that are willing to take losses in order to liquidate the asset.
In today’s market place, it is easy to find distressed properties and foreclosure properties as they are all over the country and anyone can purchase a foreclosure property.
Be sure to check this space tomorrow for more about how to find and finance deals.
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{ 11 comments… read them below or add one }
A quick way to discover foreclosed property is to be familiar with the regions of high foreclosure rates exist. This provides investors and home buyers an amazing advantage of finding real bargained houses. Also, try using this cool house value estimator tool – http://www.dodeals.com. Just enter the address of the house you want to know its estimated value
I haven’t attended this seminar yet, but I hear it is one of the best out there…
I have been doing alot of research and so far I am amazed at what this product can do!
Wholesale real estate is the way to go in the current market. Buying anything else is a waste (unless you are obtaining the property sub2). I love wholesale properties and WILL BE SUCCESSFUL in this business from them…. Thx Big J for the awesome info..
Nice article, i subscribed to your feed, looking forward to part 2!
Can you fix up homes with just you and your significant other or is it wise to hire a remodeling crew? If the answer is the crew, any suggestions about finding a trustworthy fix up team?
I’ve been reading your blog for awhile now and just wanted to thank you. I really enjoy someone putting themselves on the line and cutting through all the fluff. We need more like you who “tell it like it is”. I’m a part time “real estate investor” and I can tell you the rental market is picking up, how do i use that to my advantage?
This is very interesting, how do i opt in? This economy has been tough, i need some inspiration!
If I know Jason, he wants the cash now so I don’t think he’ll be renting them out.
What is the turnaround time on these homes? I want to start making money!
Jason,
I totally get this idea about buying undervalued properties, but who is going to be willing to buy them from me? Am I going to have to rent them out?