3 Opportunities for Real Estate Investing today
There are 3 distinct windows of opportunity buying foreclosure investments in today’s market, each having its unique advantages and degree of risk of course.
Let’s look at each of them
#1 Pre-Foreclosures : These are the short sales and when people are ready to part from a home that they hold for years. They have lots of equity and are willing to sell them because of financial difficulties. I’m the first to admit that the short sales are plentiful but the second sample are very few.
There is a great chance of picking a property as a short sale but you must have patience.
#2 Real Estate Auction / Sheriff Sales: Once the property gets back to the mortgage holder, they immediately want to unload it at an auction. Your chances of buying one here at a deep discount aren’t that good. It requires lots of cash, not a chance to see the actual value or inspect of the property and the ex-owner has a redemption time, too much risk. . when you can purchase the home as a. . .
#3 Bank REO Properties.:
Learning where to find these REO’s in the early stages could give you an edge. REO’s are usually the most effective way in buying it at the lowest possible price and still have time to inspect the property at your leisure . . .with ample time to make a decision.
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