For the educated foreclosure investor, especially those skilled in the art of sourcing pre-foreclosure properties, there couldn't be a better time to capitalize on foreclosure real estate.
Pre-foreclosure properties are listed as being in default by 30 - 60 - 90 days however they have not been put up for public auction. Many have no chance of the loan being reinstated so borrowers only option is separating from the loan obligation.
For those homeowners that simply can't make their payments and don't want to destroy their credit, working with a foreclosure investor might not be so bad. A desperate situation for a homeowner can actually turn into a win-win situation for both the borrower and the foreclosure investor. Win-Win is the key word.
How can this happen?
Win-win happens when the borrower in trouble can liquidate the property, keep some equity and avoid bankruptcy thus keeping their credit intact. At the same time, the foreclosure investor wins by acquiring a property at below market value and has the opportunity to profit by converting the home into a re-sale or rental.
Skill is needed by the foreclosure investor in sourcing these types of deals, especially when it comes to empathizing with the financially troubled buyer. Effectively communicating to the borrower that retention strategies are hopeless and seeking the BEST liquidation plan is critical.The foreclosure expert is merely solving a problem in a professional and skillful way - mutually beneficial to both parties.
Why not learn the art of sourcing pre foreclosure properties? With so many properties becoming available within the next year due to loan default the opportunity to make real profits is better than ever.
Pre-foreclosure properties are listed as being in default by 30 - 60 - 90 days however they have not been put up for public auction. Many have no chance of the loan being reinstated so borrowers only option is separating from the loan obligation.
For those homeowners that simply can't make their payments and don't want to destroy their credit, working with a foreclosure investor might not be so bad. A desperate situation for a homeowner can actually turn into a win-win situation for both the borrower and the foreclosure investor. Win-Win is the key word.
How can this happen?
Win-win happens when the borrower in trouble can liquidate the property, keep some equity and avoid bankruptcy thus keeping their credit intact. At the same time, the foreclosure investor wins by acquiring a property at below market value and has the opportunity to profit by converting the home into a re-sale or rental.
Skill is needed by the foreclosure investor in sourcing these types of deals, especially when it comes to empathizing with the financially troubled buyer. Effectively communicating to the borrower that retention strategies are hopeless and seeking the BEST liquidation plan is critical.The foreclosure expert is merely solving a problem in a professional and skillful way - mutually beneficial to both parties.
Why not learn the art of sourcing pre foreclosure properties? With so many properties becoming available within the next year due to loan default the opportunity to make real profits is better than ever.
Comments
Post a Comment