In some of the other blog articles, I showed you how you can confidently invest in preforeclosure and probate homes and NEVER have to worry about being “stuck” with a property that you don’t want. If you’ve been following these messages, I trust that you’ve begun to see just how easy it is for you to safely and ethically invest in probate AND preforeclosure real estate while making big profits.
I’m going to share some of the steps from the part of my real estate course that I call my “’Fast Start’ Steps to Success.” These are a few of the things you should do to ensure the fastest and most profitable success when you begin on your way with preforeclosure and probate investing.
1. Here’s the first thing you need to do:
Decide on the areas you want to cover.
It’s best to begin with just one or two areas, such as a couple of adjacent towns or counties. Sticking to a specific area will allow you to get to know that area and the local real estate market, and lets you become somewhat of an “expert” on that area.
When investing in preforeclosure and probate homes, it is important to act fast. Being familiar with a specific area allows you to easily track probate and preforeclosure properties that are located in the area. This allows you to quickly respond when you get notice of such preforeclosure and probate opportunities.
If you have several preforeclosure or probate deals in the works, it’s much easier when they are close to each other so that you don’t have to spend lots of time and resources visiting them, inspecting them, or researching them.
Remember, keep it as simple as possible, especially when you’re starting out. This will be the key to your success.
2. Stay on top of the preforeclosure listings in your chosen area. Depending on the area you choose, you may have some competition from other foreclosure investors. It’s important that you know about listings as soon as they come out, so that you can be the one who gets there first. If you are a probate home investor, then it’s equally important that you keep up with your probate research as outlined in my probate course at http://www.propertyforeclosure.com/probate.html.
You can track preforeclosure listings in several ways. Most, but not all, newspapers publish preforeclosure notices. Find out which newspapers in your chosen area publish notices, and subscribe to them. This way, you can systematically keep track of preforeclosure homes as their notices are posted.
By the way, here’s a good reason to stick to one or two areas: you’ll only need to subcribe to a few online newspapers instead of several different sets.
An easy way to track preforeclosures is to subscribe to an online foreclosure listing service. These online services provide additional information such as the original loan amount and the foreclosure attorney’s contact information. They also offer a neat little feature that enables you to find the fair market value of a property (note that these are only estimates of the property’s value).
I recommend the following foreclosure listing service: http://www.propertyforeclosure.com/foreclosure_listing.html
3. Find a good real estate agent.
Once you’ve chosen your area and have decided on a way to find preforeclosure listings, you need a good real estate agent to handle your listings.
You will want to find a real estate agent who works with investors. Not all realtors are experienced with or knowledgeable about preforeclosure or probate homes, or about real estate investing. An agent who knows how to work with investors understands that you want a good deal, and that you are looking to turn the preforeclosure or probate home around to make as much of a profit as possible. Also let the agent know that you will list your properties with him or her.
A real estate agent will also provide valuable assistance with terminology and paperwork. As I’ve said in blog entries, you don’t need to be a real estate expert or agent to be successful at real estate investing, but when you’re just starting out, the expertise of a real estate agent will be quite useful to have as you’re filling out your first contract.
These are just 3 out of the 7 “Fast Start Steps to Success” that will ensure you the fastest, most successful start on your way to making big profits in preforeclosure and probate investing.
All of these steps are laid out in my real estate investing courses, just like a road map that you can follow from beginning to successful conclusion. If you’d like to hear about some of the people who have been successful with these steps, check out their stories at:
Or, to get started right now, visit http://www.propertyforeclosure.com/ to find out exactly how you can get my courses today!
I’m Lance Young. Since 1987, I’ve enjoyed amazing success with preforeclosure and probate homes. I’ve made profits in every kind of real estate market, and I know what works and what does not. I would like to share my expertise and experience with you, and help you take advantage of today’s wonderful preforeclosure and probate investment opportunities.
Get started now! Learn more about how my preforeclosure and probate investing courses can help you earn a decent income at