You may have already heard that buying pre foreclosure homes is a great way to break into real estate investing. But you may not realize that you can invest in pre foreclosure homes even if you’re broke, have bad credit, and know very little about real estate.
Though it’s hard to believe, it’s the truth. You can begin making great profits with pre foreclosure homes with as little as 10 dollars for the contract deposit.
If you have bad credit or no credit, pre foreclosure investing is one area of real estate investing where that truly doesn’t matter. You can tie a pre foreclosure home up and give yourself the ability to ‘flip’ it without a credit check or credit scrutiny.
Surely, then, you think, you’d have to be a real estate expert to be able to pull off a good (and free, no-credit check) pre foreclosure investment deal. Not true. In fact, being a real estate agent or expert may get in your way when you’re buying pre foreclosure homes.
So what’s the catch, you say. The catch is that there is another type of investment you have to make in a pre foreclosure deal. It’s an investment of certain personal attributes. You can do a pre foreclosure deal without money, without good credit, and with no knowledge of real estate. But what you must have to be a successful pre foreclosure investment tycoon are these:
A deep desire for success
A goal to improve your financial situation (in other words, the burning desire to make lots of money!)
Those personal attributes are far more important for successful pre foreclosure investing, than money, credit or knowledge. Of course, you do need to read and learn about how to safely and effectively make a pre foreclosure killing. And there is that 10 dollars for the contract deposit. But if you sincerely want to succeed at pre foreclosure investing, the right personal traits are your real tools for success.