Foreclosing On Investment Property – Where to find Funding for your Investment Property No Due Diligence

25 October, 2011

Where to find Funding for your Investment Property No Due Dilligence

So you have just located the perfect investment property in your area, and to sweeten the deal it just happens to be a foreclosed property. The property needs very little renovations, and is located in a neighborhood that would make for a quick sell. There is only one problem, your bank refuse to lend money for investment properties. 

This is a common problem many would be investors face as they try to seize their portion of the real estate boom. I refer to this period in it as a real estate boom, and I make no corrections in saying so. This particular time in history will go down as a boom for investors who are able to buy as many foreclosed properties as possible. 

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A very wealthy real estate investor once told me that the opportunity of a life time has to be seized during the lifetime of that opportunity. As you read this article you are reading it during the lifetime of this opportunity in real estate investing. But not for everyone, many would be investor will find it very difficult to acquire foreclosed properties no matter how sweet the deal appears to be. 

The Alternative Funding Group says many people that contact him never heard of Private Funding for real estate investing. So when I introduce them to the ideal that I can buy properties without begging a bank, or without using a dime of their savings many seem to laugh at the ideal. 

There is an old word of wisdom in the business community that says “it’s not what you know but who you know that matters.” This is the first rule of real estate investing; it’s who you know that matters. Knowing the right person to call when you find the perfect deal and then having that person wire the money plus closing cost is simply priceless.

 

Please allow me to introduce you to The Alternative Funding Group.

 

The Alternative Funding Group http://www.fundingyourrehab.com Get a list of the 100 Hard Money Lenders for only .95

 

 

The Alternative Funding Group http://www.fundingyourrehab.com Get a list of the 100 Hard Money Lenders for only .95

 

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Foreclosed Property Auctions – Competitive Participation at Foreclosed Properties Auction

24 October, 2011

There are some things to keep in mind if you want to be ahead in a foreclosed properties auction. For starters these homes are all sold as is. They are also cash sales so buyers need to be able to make payment in a short span of time. Buyers at auctions do not have the opportunity to conduct a proper inspection prior to the auction date.

With these restrictive conditions, it is a wonder that foreclosed properties auction are still very popular among foreclosure investors. If you would like to personally find out why, there are a few preparatory things to bear in mind.

Preparing for Your First Auction

You need to have a system for monitoring auctions that are scheduled in your area or areas of choice. A dependable foreclosures listing service can accomplish this for you. Once you have come up with your list of auctions you want to participate in make sure you personally check out the property to see its appearance and get a feel of the neighborhood.

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Auction dates can change without prior notice because for about a month leading to the auction, the previous home owners can still redeem their home. You can keep tabs of the status of the auction by keeping in touch with the trustee.

Auctions usually take place at the steps of the county courthouse or any public place. The auction procedure can vary according to the state where they are being staged. You have to be familiar with the auction rules of the state where the property you want is located. Usually participants will be asked to pay a fee that is equivalent to ten percent of the starting bid. The best way to learn the auction process is to attend other auctions as an observer.

Assess whether you stand to get a good bargain by finding out the market value of the property. You can compare it with the value of like properties in the same location. The opening bid usually represents the outstanding loan still owed by the previous owner so you can work from there.

From all the factors you have considered and based on your finances, you will be able to determine your own bid limit when you finally participate in your first foreclosed properties auction.

Joseph B. Smith has been educating buyers on the finer points of foreclosed properties auction at Foreclosure-Auction.net for over five years. Contact Joseph B. Smith through Foreclosure-Auction.net if you need help finding information about foreclosed properties auction.

Houses For Sale Thornhill – Scotland property for sale – Better value in the Highlands?

19 October, 2011

In Scotland property for sale this year has been a hard time for many people selling. Although overall it has seen a 3.7%rise in value increase in the last year BUT purchasers are down by 17% since last year! What does this mean? Well this means there are some particularly good bargains to be had especially in more rural or remote areas as prices have dropped and with less people purchasing it really has become a buyers market. You can expect in this climate to pay as much as 25% less for some properties than in 2007! For long term investors or people with capital behind them it really is a chance to own a bargain!

For instance currently at the lower end of the market you can obtain a rural 2 bedroom cottage with a garden near Thornhill Dumfries for around £75,000 or if your sights are on development or escaping the rat race to run your own business there are even better opportunities. For example in the Highlands near Ullapool theres an established Motel with 7 self catering units with your own fishing Loch and planning for a family house up for around £350,000 and for a £125K more they will include 3 plots with planning on! But only sold as a whole. How do you come by these bargains? Well keeping away from more urban areas and looking with an open mind of where you want to live can lead to exciting opportunities. Personally having lived and worked in the heart of urban areas moving to a more rural area was not only better financially but gave me back a much better quality of life. In terms of buying now the opportunities for people who are looking then maybe its one of the best times to buy in years. Spending a short time on line using google using the advanced search facility (date and time to 1 month) may bring in some very attractive bargains – both residential and commercial. Alternatively some of the dedicated property search sites (findaproperty, right move etc) make things easier than an agent by agent search. However you do your searches, the real bargains really do sem to be in the rural areas. Happy hunting! www.scotlandpropertyforsale.com

 

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Foreclosure Property Auction – Foreclosure properties: Good investment For Buyers

17 October, 2011

A property comes under foreclosure proceedings when the home owner fails to repay his dues towards the mortgage loan due to monetary problem. The property is put up for sale under foreclosure proceedings when all the other option to repay the mortgage loan by the home owner fails. Foreclosure can also take place when the home owner fails to pay the property taxes or home owner’s association assessments or any other debts.

Foreclosure properties offer good bargain as the price of the homes is less than the market value. Buyers always look forward to such properties. A buyer can know about the sale of these properties from the newspaper, online websites of the lender and also from the county deed record office. The credit lenders or the bank sell off foreclosure properties at the earliest to bear minimum loss as they do want to bear the expenses towards the security, maintenance and upkeep of the property along with the loan amount.

It is more beneficial if you purchase a foreclosure property from the bank. The reason is the bank will already pay most of the dues like the property tax, HOA operating prior to sale. They will also clear the property title and vacate the premises before sale. Also the property is appraised to attract more buyers. Hence the property it is ready to move in.

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Definitely with all these expenses done the bank will also negotiate on the down payment, interest rate and selling price of the house. Therefore as a buyer you should be ready to afford the negotiation also if you want to purchase foreclosure property from bank.

Buying from the house owner before a foreclosure proceedings is also another option for a buyer. In this case all the three that is the mortgage lender, the home owner and the buyer can get the advantage. But as a buyer you should also be ready to put up with all the other dues on the property. Also due to financial problem there are chances that the house will not be well maintained and you should check the property for the existing repairs and faults and work out these expenses also. In this case you can always negotiate with the home owner about the entire deal based on all the expenses that you have to bear on the property. Once the agreement is done it is always better to get a local real estate legal professional for documenting it so that you do not have any legal trouble in the future.

Purchasing house from a foreclosure property auction is always considered very risky property investment. You will not get the chance to inspect the house and know about other dues the house holds. Moreover you do not know if it is ready to move in or not. The problem with a foreclosure house is they are usually “as in”. So you have to pay for the necessary repairs apart from other debts. Adding to it you also have to pay the total amount of the deal in cash in a short time. Therefore it is advisable that you check all the angles of the expense before taking the decision.

Foreclosure Property Search – Online Listing- Best Way To Find Foreclosure Properties

08 October, 2011

Are you well aware of the benefits associated with foreclosed properties? Have you made the final decision of buying foreclosed real estates but are confused about where to search foreclosure properties? If you wish to search foreclosure property, there are a large number of choices available. The primary key to search foreclosed property is through the medium of lis pendens lists, direct mail, friends, newspapers, real estate agents, lending institutions, real estate offices and not to forget the World Wide Web.

The Internet serves as a great destination to search foreclosure properties. There are various foreclosure listing portals available on the net that help the interested buyers to know the rates, location, neighborhood area, infrastructural details and see pictures of the search foreclosure properties available.

It has been observed that searching through these online listings is by far the easiest and comfortable way to search foreclosed property from the comforts of one’s home. As there are various listing sites that offer subscriptions to the interested users, it is always a wise option to ask for a free trail once in order to see the current search foreclosure property listings available.

Direct mail is another exceptional method to search foreclosure properties. This is due to the fact that the interested buyer can actually talk to the individual who is in the pre-foreclosure phase and can give tips regarding how to negotiate for nice discount on foreclosure properties. Newspapers are yet another place to search foreclosed property. It has been laid in the law that all states are needed to post public notification of auction in some or the other local newspaper for all the foreclosed properties available. This way, the interested buyers can look up at these notifications and then send the letter or call them.

Needles to say, the real estate agents also serve as a great way to search foreclosure property. Generally, banks which end up with the foreclosure real estates hire these agents to represent them as the financial institutions are not in the business of foreclosure and are just concerned about the lending procedures. Also, as these agents have links with banks and other foreclosure property holders, they can offer great services of providing the best possible foreclosure deal to the interested buyers.

Myself webmaster of http://www.lendermustsell.com – A source of lender owned foreclosed homes and properties where you can search foreclosed property, foreclosed homes, foreclosure home listings, search foreclosure properties ,bank owned foreclosed homes etc.

How To Purchase Foreclosed Property – Tips on Purchasing Foreclosed Property

07 October, 2011

Now is probably the best time to purchase a home. This is because there are a lot of good properties that you can avail for a very low price. This also means that now is not a good time to sell your property. This is because the competition is tough and people are not willing to pay more to purchase a house if they can acquire it at a much cheaper price.

If you are out looking for an inexpensive home, it is best to turn your attention to foreclosed properties. Although it is sad to note that, many families are losing their homes, it is undeniable that it paved the way for tons of opportunities to own a house. However, one should keep in mind that there are downsides in purchasing foreclosed properties. One is that most banks will not allow you to check the property first. Another is that lenders will require that you pay the property in cash.

To avoid having such problems when purchasing foreclosed homes, keep the foregoing tips in mind. This will help you in acquiring the best home for the best deal:

You should know when the auctions or sales are. Find out where it will take place as well. You will generate this information from the classified ads of the local papers. You will also learn about this lenders’ and banks’ notifications. However, it is still best if you negotiate with the property owner directly. Through this, you will be able to check the house. You may seek the assistance of a real estate agent. You can also talk to a lawyer if you want. Through this, you will be guided with what to do and what to prepare to ensure that the purchase of the property goes smoothly. Having someone who knows about the process will make your purchase easier. You may think that you will get a bargain price if you choose to purchase a foreclosed home. However, you have to be careful because some of the previous owners have accumulated a huge amount of mortgage debt. This could be greater than the actual value of the property. To ensure that you are not paying more than you should, verify the value of the house. You can find this out by checking the value of the houses in that area. Once you learn the actual value of the house, you will be able to negotiate for a more favorable value. It is essential to pre-qualify for home purchase. However, if you are buying a foreclosed house, it is very important that your financing is ready. This is because not all lenders will agree to lend you an amount to purchase a foreclosed home. This makes it very important that you ensure your finances first. Inspect the home before purchasing it. You should not settle for less just because you were able to acquire it at a cheaper value. Keep in mind that you will be living in that house. That means your comfort and way of life will largely depend on it. See to it that it the property is in good condition.

These tips will definitely help you find your ideal home for less.

Find more information at Phoenix Community Guide. You can also check AZ Real Estate and Community Real Estate.

Hud Foreclosure Listing – Finding a Residential Property From HUD Foreclosure Listings

02 October, 2011

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Houses under are some of the most affordable residences available in the U.S. Like other foreclosed properties, HUD houses are offered at almost half their original prices. For families and individuals who are buying a home for the first time, these government dwellings can serve as ideal first homes.

 

Advantages of HUD Homes

 

Aside from the low prices, buyers of residences from the government agency can benefit from the counseling services offered by the HUD. First time home buyers are certain to gain advantages from these counseling sessions since they will learn about the nature of foreclosures, how to get mortgage loans and how to go about buying government-sold properties.

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Hiring a Real Estate Agent

 

Home buyers are always advised to hire a realtor to make sure that everything goes smoothly and that they do not end up getting a less-than satisfactory deal. For first time home buyers, getting a realtor is definitely a must. They might think that they have researched all about foreclosure buying, but reading about is very different from going through the actual procedure.

 

For first time home buyers who have chosen their first residence from , it is best to hire a realtor who specializes in HUD foreclosed houses or government foreclosures. Although most of the steps involved in selling and buying foreclosures are the same for all types, government foreclosures do have some unique features that only a licensed government foreclosure realtor would know how to address.

 

When looking at listings, home buyers should pay attention to the details provided by these sources. Online foreclosure listings are probably the best tool to use in finding a home. These listings can give buyers information on the location of the property for sale, the list price, the length of period provided to interested buyers and property details such as number of bedrooms, type of structure and additional features.

 

can provide home buyers with practically any information they need to make a decision. However, they still need to visit the premises and see for themselves whether the house satisfies every requirement they have on their list.

Joseph B. Smith has been educating buyers on the finer points of HUD Foreclosure Listings at ForeclosureListingsNationWide.com for over ten years. Contact Joseph B. Smith through ForeclosureListingsNationWide.com if you need help finding information about HUD Foreclosure Listings.

Ontario Property – Properties to rent fame the Canada

29 September, 2011

 

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Foreclosing On Investment Property – The Best Investment Property: Foreclosure

27 September, 2011

If you are considering buying an , a is something that you should look into. Foreclosures are generally sold at bargain prices because of certain problems that are attached to these properties. But for those who know how to look past these certain complications, investing in foreclosures can yield high investment returns.

Basically, foreclosures are properties that have been repossessed by banks and lenders after the mortgagee failed to settle his or her payments. They are usually sold at foreclosure auctions, wherein buyers attempt to outsmart each other to get the house that they want. But if these properties didn’t receive bids at the auction, the lenders will have no choice but to take them back and sell them as real estate owned homes or REOs.

Many real estate investors consider foreclosed homes as some of the best investment properties. For starters, they can be obtained at very low prices. And most of all, a real estate entrepreneur can make tons of money on foreclosures using the following real estate investing methods:

Rehabbing – after a rehabber buy this particular , a is expected to undergo structural repairs and renovations to make it more appealing to retail or conventional homebuyers. Because a foreclosed property is being sold at a bargain price, a real estate investor doesn’t have to allocate more funds for the purchase of the property and instead, use the money to beef up the renovations on the rehab project.
Flipping – repossessed homes are ideal for those who buy and sell real estate for profit. With the recent housing bubble and mortgage crisis, there has been an increase in the number of foreclosures. This made it easier for real estate investors to find properties that they can flip.
Landlording – instead of flipping a foreclosed home after it has been rehabbed, a good way to generate income from such an investment property is to find tenants for it. By being a landlord, an investor can get access to a continuous source of funds without having the need to do more legwork.

Before you consider investing in foreclosures, however, see to it that you have done your homework properly. Always observe due diligence and don’t buy a repossessed property without conducting some research on it. In doing so, you can avoid making huge mistakes that can badly affect your real estate investing business.

If you want to learn more about the process of buying , or investing in real estate in general, just log on to www.REIWired.com.

REI Wired is the ultimate real estate investor network on the planet. The sole purpose of this site is to arm you with the cutting-edge real estate investing tactics being used by the hottest investors in the industry…so you can dominate your competition and close more deals… FAST.

Foreclosure Property Auction – Foreclosure Property Auctions – A Simple Guide

27 September, 2011

In any potential property buy, always keep in mind what you can or cannot afford. What you can or cannot do without. To keep your options wide, note a range of prices your finances can easily cover without sacrificing your budget on basic necessities. Remember that distressed homes are available in foreclosure property auctions primarily because their previous owners were not able to keep their finances on check.

Know your ideal home

Most foreclosed homes were put up with others’ tastes in mind, but this should not keep you from finding something close to what you want for yourself. Remember that because these homes tend to get auctioned off at a lower price than what they originally cost, you can always use the extra savings to spruce up these properties to your standards. As to the location, most major cities and states offer a plethora of distressed properties, which gives buyers on the look out an ample serving to choose from.

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Talk to real estate and banking professionals

These people get paid for the exact service you would need. Whether it is simply inquiring a property developer’s track record or a lender’s mortgage term, tapping these professionals will help you maximize your acquisition in foreclosure property auctions. Note that foreclosed homes are also suitable fixer-upper and rental investments one can make money from. Because they can be bought cheap, homebuyers with the help of a little elbow grease can easily make a profit from these properties through a house flip. As such, you would need the help of these professionals to get the most out of the property you intend to buy.

Consult online foreclosure listings providers

Although it is quite tempting to rely solely on industry professionals to help you through foreclosure property auctions, listings providers over the Internet offer value added service to homebuyers. Knowing the current conditions of target homes, interest rates of banks and an updated list of properties in the market help homebuyers make an informed decision. Remember that buying a home is more often than not a once in a lifetime exercise, so it is better to plunge into the market well equipped.

Joseph B. Smith has been educating buyers on the finer points of foreclosure property auctions at Foreclosure-Auction.net for over five years. Contact Joseph B. Smith through Foreclosure-Auction.net if you need help finding information about foreclosure property auctions.

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