Real Estate and Investing
Real estate investors who buy up foreclosures fall into a group of unique people who have vision, a strong desire to be successful and are not afraid to take an ‘educated’ risk to make things happen their way.
By using ‘individual ownership’, all the profits and liabilities flow directly to you as an individual but you are also exposed to the greatest risks.
During these times of high unemployment and a shocking number of foreclosures, the latest thing homeowners must beware of are loan modification scams.
During these times of high unemployment and a shocking number of foreclosures, the latest thing homeowners must beware of are loan modification scams.
Home owners who bought their homes near the peak of the real estate bubble are eagerly awaiting the news that the market has hit bottom and values are beginning to increase.
Perhaps you are struggling financially, and you are wondering if foreclosure is a possibility for your home, and maybe you’ve heard about a loan modification or a mortgage modification as an alternative to foreclosure.
All you need to do is learn from someone who has the experience and know how, and the ability to help you through your first deal.
You can find a home, for example, that is worth about $200,000 in which the owner is behind on a mortgage where he only owes about $120,000, then you can offer to purchase the home for $130,000 and give the owner $10,000 as a down and let them live there and rent it back from you.
In fact, some strategies, such as flipping real estate, can be the least risky way for a beginning investor to make a profit in an uncertain market simply because of the relatively short amount of time the flipper will own the property.
When Fed chairman, Alan Greenspan, said that the national real estate market was “frothy,” the writing was really on the wall, and anyone with half a brain could see that we were in for a “cooling” of the housing market, at best.
The point is that even falling markets are prime for flipping since the holding period is generally too short for the value of the property to decline beyond the deep discount at which it is purchased.
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