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How To Profit From The Coming Foreclosure Real Estate Boom!
By brad wozny
A smart real estate investor will know that using leveage and following a system can net terrific profits in real estate. Particularly with foreclosure properties. Foreclosures are a great way to build a fortune. Now more than ever, because real estate foreclosure rates are the highest we've seen in 46 years...
Here’s a basic strategy investors with foreclosures:
A foreclosure home is up for sale. It's worth $350,000 according to comparable real estate appraisals, but the bank's asking price is $300,000.
The savvy investor will have a contractor or home inspector on their power team check out the foreclosure property in question. In this case, they discover it needs $20,000 of work.Interestingly enough, many real estate homebuyers will pass right over the foreclosed property. Because unlike an investor, they "think" it's ugly.
This real estate offers a handsome opportunity for an opportunistic real estate investor. Savvy investors will also use the Multi-Offer Strategy Technique in a Foreclosure…
This technique uses the principle of offering ‘choice’ to the eager seller – the bank - after it has been on the market for 60 days. Here, the investor submits three offers at a variety of prices ranging from $210,000 to $225,000. They do so by submitting an offer in their personal name, another under their partner's name, and the other under a company name. These
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offers are presented by the Realtor to the bank's loss mitigation department whose sole job is to sell off the banks non-performing assets as quickly as possible. Even if that means the bank registers a loss on the loan of the property by selling to the investor.
Since they are buying through a bank's loss mitigation department, their offer of $225,000 is accepted - even though it is well under the asking price. This strategy can work great in a foreclosure-heavy market like Detroit and Denver, Colorado. Yes, foreclosure real estate in Denver and foreclosures throughout Colorado's real estate market are high. And banks in these markets truly are motivated sellers.
That's not all!
The savvy investor experienced in the real estate contract with a foreclosure will actually get the bank to give them a mortgage for the $225,000. Once the home loan goes through, the investor closes on the real estate, using a 10% down payment from a private lender. The investor then immediately sells the property to another “fix and flip” investor, and nets at least a $75,000 profit.
All this by selling it at the original asking price rather, than the actual real estate value of the property! Foreclosure real estate is skyrocketing. Being a real estate investor with this one niche can help you become a multi-millionaire. Discover more real estate investing tips, deal alerts, and receive valuable foreclosure resources and contracts by visiting http://www.MillionaireRiches.com today. It could literally change your life!
Cheers,
Brad & Mary Wozny
“Helping 100,000 Women & Families Achieve Financial Freedom!”
Discover How To Buy & Profit from the Foreclosure Real Estate BOOM without Cash and Bad Credit! Foreclosure real estate is soaring to all time highs since the 1960's. Now more than every before, fortunes can be made with foreclosure real estate more quickly than in the past. Learn how to buy and profit from the foreclosure real estate boom in north america, even if you have little cash and poor credit.
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Are You Losing Prospects Because You Don’t Know How To Market Effectively?
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So you have more real estate listings right now than buyer leads. Not surprising, as the number of homes for sale in this market is overwhelmingly more than the number of sales going on. Read more...
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My Rules When Dealing With Private Lenders That Fund My Real Estate Deals....
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This is my business. After many years in a corporate job working for others, I left because I wanted to run my own business my way and that's exactly what I am doing. I am using my business skills to Read more...
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Maximize Your Commercial Real Estate Financing
By Tony Seruga, Yolanda Seruga and Yolanda Bishop of Maverick Real Estate Investments, Inc.
Locating financing for every commercial project is not always an easy feat. Many items can affect the acceptance of a loan, how much is loaned, and under what specific terms the loan is given. As a Read more...
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Obtaining-probate
By -Benedict-Rohan
Note: the information in this article applies to England and Wales only.This guide is an introduction to obtaining probate after someone’sdeath in order to administer their Read more...
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