The Secret To Earning Money in Foreclosures

Especially for newcomers in the real estate business, a very popular strategy used by foreclosure investors that requires no investment cash, is called ‘assignment’ or ‘flipping’.

It takes no special license and you can earn monthly profits consistently in any type of real estate market. This type of foreclosure training is available.

Once you’ve invested the time learning and mastering this type of transaction and find out how lucrative it is you’ll wonder why you ever wasted time with a ‘JOB’. Your hourly pay rate can easily be over $100.00 an hour when you analyze how much time you actually put into each deal.

Step 1 is first sourcing properties in default that fit specific criteria, and step 2 is learning the step-by-step process of how to approach, structure and close the deal. Again, finding the right foreclosure training is critical (A link to great training manual is provided below, perfect for total beginners.)

So, first, you’ll be searching for a property that is in the early stage of default, hopefully less than 30 days. Also, you are looking for homeowners that have built up equity but for whatever reasons can NOT keep up the payments.

Say for example you’ve sourced a homeowner in default whose monthly mortgage payment is currently $1,100 but can’t afford to continue making the payment. Liquidation is the homeowners best option and decides selling the property to YOU is the best way out.

You will make an offer at no more than 65% of the ‘as is’ value. Furthurmore, a realistic analysis reveals the value of the property to be worth $300,000, ‘as is’. You’ve spent considerable hours trying to honestly ‘value’ the property with a thorough comparative analysis of comparable homes in the area. The payoff on the home is $175,000. You offer to buy the home for $195,000 ( 65% of the ‘as is’ value) which they gladly accept.

This is definitely a SMART CHOICE for the distressed homeowner. Arranging the deal terms as such would pay off the 1 month owed on the mortgage, bring the foreclosure to a halt and give the homeowners some cash to find housing. You’ve just given them a strategy to salvage a potentially devastating financial situation.

Now comes the next decision for you to make. Do you keep the property and fix it up for possible sale or lease?

Remember, we’re ‘assigning’ so you don’t want to assume the risk of holding costs – so you decide NOT to keep the property.

You are currently holding something that is extremely valuable – the contract to purchase a property at a price way under market value. This is the basis for ‘assigning ‘ the contract.

Next, you’ll need to find an interested investor to ‘assign’ the property. Since the home will be worth $300,000 on the market, right now, do you think an investor that has more money than timewould pay $195,000 for the right to own a $300,000 property? You bet, and within a short period of time investor cash will be flying at you.

Ultimately the final investorthat ends up buying your contract will pay $195,000 plus your fee, which you must decide on. for example, if you charge 6% as your finders fee – you just made $11,700 for only a few hours work!

Not bad money.

Isn’t really time to learn something new? Something that can earn you good money? Why not begin to master the art of ‘assigning’ foreclosure deals? It’s a great way, even for those that are not risk takers, to enter the world of foreclosure investing WITHOUT SPENDING ANY OF YOUR OWN CASH.

Want to learn how you can get started flipping houses and making money in real estate investing today Today?

Go to http://realestateflippingriches.com

And receive a FREE 7 steps to real estate riches Video course ($97 value)

Scientists have previously determined that 1 in 10 men has a soundness problem related to sexual living, such as significance. An assortment is in fact huge. If you are going to use Cialis, you perhaps want to know more about http://goodpageabout.com/cialis-dosage.html. This medicine has been on the market for certain years in sundry countries. Studies demonstrated, that both men and women suffer from sexual disorders. Did learned some about 10mg cialis dosage? This advice is ordinary, but it can make all the difference if you need information about cialis dosage 20mg. Mostly when some goes wrong with your erection, it can influence your sex existence as well as your overall well-being. Without fail, take Cialis exactly as prescribed by your soundness care occupational.

Leave A Reply (No comments so far)

*

No comments yet

My Amazing Articles/Videos Browse This Site