What Makes Pre-Foreclosure Investing Superior To All Other Techniques
How do you know what real estate investing approach is best suited for you?
Many years ago, we learned about the power of foreclosure investing. If you had to try and explain foreclosure investing, you could throw a wide net over everything from a homeowner missing their first mortgage payment all the way to the foreclosure property selling at the courthouse steps.
Then came pre-foreclosure investing.Pre-foreclosure begins when a notice of default is filed at the local courthouse and concludes when the house is auctioned off at the Sheriff sale.
Reason #1 - Sellers Almost Always Have To Sell The Property
I don't know why homeowners who fall into pre-foreclosure do the same thing every time, but they do.When you see this situation develop, the homeowner will fail to make the mortgage payment and the property fails into foreclosure.
When a homeowner falls behind on the mortgage payment, its very difficult for them to catch up.
The main causes leading up into pre-foreclosure are:
1. Divorce
2. Job loss
3. Prolonged sickness or disease
4. Job or position transfer
5. Drug and/or alcohol dependency
Sellers who find themselves in pre-foreclosure almost always have to sell the house in order to avoid the foreclosure auction. Experienced pre-foreclosure know that when they help sellers first, they are then rewarded with these steeply discounted investment properties.
Reason #2 Less Competition For The Serious Real Esate Investor
Many who consider themselves pre-foreclosure investors don't know a good deal when it's staring them right in the face. These real estate investors typically thumb through classified ads each week and attempt to buy investment property at retail prices. Some of these investors may work with a real estate agent and attempt to find invesment property - but these are still listed properites with retail prices.
You cannot build lasting wealth through real estate investing if you're paying too much for investment property.You must learn how to buy investment property at wholesale prices.
Serious pre-foreclosure investors do not pay too much for investment property and normally do not work well with real estate agents.These investors are well trained in locating the best real estate deals in town.Pre-foreclosure investors don't wait around - they take action and meet with these sellers.
Some pre-foreclosure investors take the time to mail out post cards and make a few phone calls to sellers in pre-foreclosure.But I have found that the most effective approach to pre-foreclosure investing is to travel out to each property and meet with the seller.
This approach offers the highest investment return with the least amount of competition.Very good combination if you're interested in building long term wealth.
Many years ago, we learned about the power of foreclosure investing. If you had to try and explain foreclosure investing, you could throw a wide net over everything from a homeowner missing their first mortgage payment all the way to the foreclosure property selling at the courthouse steps.
Then came pre-foreclosure investing.Pre-foreclosure begins when a notice of default is filed at the local courthouse and concludes when the house is auctioned off at the Sheriff sale.
Reason #1 - Sellers Almost Always Have To Sell The Property
I don't know why homeowners who fall into pre-foreclosure do the same thing every time, but they do.When you see this situation develop, the homeowner will fail to make the mortgage payment and the property fails into foreclosure.
When a homeowner falls behind on the mortgage payment, its very difficult for them to catch up.
The main causes leading up into pre-foreclosure are:
1. Divorce
2. Job loss
3. Prolonged sickness or disease
4. Job or position transfer
5. Drug and/or alcohol dependency
Sellers who find themselves in pre-foreclosure almost always have to sell the house in order to avoid the foreclosure auction. Experienced pre-foreclosure know that when they help sellers first, they are then rewarded with these steeply discounted investment properties.
Reason #2 Less Competition For The Serious Real Esate Investor
Many who consider themselves pre-foreclosure investors don't know a good deal when it's staring them right in the face. These real estate investors typically thumb through classified ads each week and attempt to buy investment property at retail prices. Some of these investors may work with a real estate agent and attempt to find invesment property - but these are still listed properites with retail prices.
You cannot build lasting wealth through real estate investing if you're paying too much for investment property.You must learn how to buy investment property at wholesale prices.
Serious pre-foreclosure investors do not pay too much for investment property and normally do not work well with real estate agents.These investors are well trained in locating the best real estate deals in town.Pre-foreclosure investors don't wait around - they take action and meet with these sellers.
Some pre-foreclosure investors take the time to mail out post cards and make a few phone calls to sellers in pre-foreclosure.But I have found that the most effective approach to pre-foreclosure investing is to travel out to each property and meet with the seller.
This approach offers the highest investment return with the least amount of competition.Very good combination if you're interested in building long term wealth.
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