Investing in Pre Foreclosures

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:

 Tenacity
 Resilience
 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.

Posted in Uncategorized | Comments Off

How an Auction and a Few Hours of Work Can Earn You Over $10,000

In past articles, I’ve talked about how much money you can make – with very little cash outlay – from investing in foreclosure homes. I’ve also mentioned that buying preforeclosure homes is generally a little easier than buying a property at the foreclosure auction. But despite the fact that a foreclosure auction may seem a little more complicated, you can still get great bargains – and profits – from buying a home at a foreclosure auction.

Though you may have more bidding competition, sometimes, the foreclosure auction offers your only opportunity to buy a great property. Perhaps the seller was unreachable before the auction. Or maybe he was reachable, but wouldn’t sell the property to you. At the foreclosure auction, it’s still possible to get the property for a rock bottom price.

Though the auction can be more of a gamble as far as whether or not you end up with the foreclosure home, it can also be well worth your while – especially when the property in question is one that you know is a peach.

When a preforeclosure home reaches the auction phase, the bank is willing to auction it for sometimes ridiculously low prices. Why? Because they don’t want to be stuck with it. The bank isn’t in the real estate business, and doesn’t want to own foreclosure homes, so they’re willing to let them go for very low prices at foreclosure auctions, just to close their books on the properties. While this can sometimes mean stiff competition for those bargain-basement-priced homes, it doesn’t mean you won’t be the one walking away with the deal.

And what if you’re the only bidder who actually shows up at the foreclosure home auction? This real estate investor’s dream happened for me recently, and enabled me to buy a property for half its value, then quickly resell it for a nice profit.

I attended the auction for a $130,000 condominium in Northern Virginia. The bidding started at $57,718. I bid one dollar over the opening bid, and since NO OTHER BIDDERS SHOWED UP, I paid $57,719 for this $130,000 condominium in a good location. I had an investor lined up beforehand, so the same day, I sold it to the investor for $68,000. That’s a profit of $10,281. Not bad for just a few hours’ work.

Since thousands of foreclosure homes all over the country are auctioned off regularly, imagine what an auction and a few hours of work could do for your profits!

Posted in Uncategorized | Comments Off

How to Turn a $10 Bill into a Real Estate Profit Funnel (No Folding Required!)

People often ask me, “Can you really make good money from real estate investing, even if you don’t have any extra cash to start with?”

In today’s world of get-rich-quick schemes where it seems there are always hidden costs before you can really make the profits that are promised, I understand why people are a little skeptical. But my answer to this question is, yes, you absolutely can profit at real estate, even when you start with a miniscule amount of money.

“Ok,” you might think. “Maybe you don’t have to have a lot of money, but that probably means you have to be an investment whiz to really make a profit.”

Wrong. All it takes to profit from real estate investing is a plan, and a $10 bill. You don’t have to have any real estate experience, and you don’t have to know a thing about investing. Here’s how:

First, you find sellers. There are many homeowners who are very motivated to sell their homes, yet, for any number of reasons, don’t have a “for sale” sign in the front yard. These include owners who are facing foreclosure, people who have just inherited a property that they don’t want, and people who want to be unburdened from their homes for other reasons.

Next, you find buyers. Just as there are motivated sellers, there are numerous buyers and investors ready and eager to buy.

Finally, you act as the middle man. Here’s where that $10 bill comes in. With just a 10-dollar deposit for a contract, you can hold the property and turn it over to one of those buyers you found, for a tidy profit, without paying any more than the 10 dollars you invested in the contract.

John O’Neill, of Myrtle Beach, South Carolina, did just that, using what he learned from my courses.

“I have been in sales for over 20 years and was definitely skeptical of Mr. Young’s claim that I could make a year’s salary or more with only $10.00 of my own money and no credit to speak of. Yet after reading the books, I was able to complete my first deal in 16 hours of work, with only $10.00 and a pen. I made $45,000.00 profit, and now I ride to work on that Harley Davison I always wanted – thankful every time I ride to Mr. Young.”

Read more success stories at http://www.propertyforeclosure.com/happy.html.

With my program, I’ll walk you, step by step, through a proven process that has helped numerous people turn a handsome profit from investing in real estate foreclosures, probate properties, and bank repossessed properties.

Posted in Uncategorized | Comments Off

Pre foreclosures: 3 More Reasons Not to Pass Them Up

Pre foreclosures, flipping, probate property…You’ve heard it before: Investing in real estate is a solid wealth builder. If only you had thousands of dollars lying around to invest, right? The truth is, you can get involved in real estate investing – with very little cash – by investing in pre foreclosure properties.

You may already know that investing in pre foreclosures (properties where the homeowner has defaulted on the mortgage payments) is one of the best ways to get involved in real estate investing. But if you’re still not quite convinced, here are some more reasons why pre foreclosure properties can be a great way to profit with very little cash up front.

The pre foreclosure period is the period when a mortgage loan is in default, but has not yet reached the auction stage. No one has been making the payments on the pre foreclosure property. The bank wants payments on the property, and the property owner wants payments on the property to occur. What this means to you as a pre foreclosure investor is that you don’t have to worry about holding costs. It also means that the seller of the pre foreclosure property is likely to be open to your offer, since he just wants to get rid of the problem, and you can help him do just that.

When a loan is in default, resulting in a pre foreclosure situation, you, as a pre foreclosure investor, have the opportunity to enjoy large equity spreads. Why? The bank is under pressure to liquidate the bad loan rather than be forced to take the property back. You can request that the lender discount what is owed on the payoff – something you can’t do unless a loan is in default.

When you buy a pre foreclosure property, you can take over the financing already in place. This is known as purchasing a home “subject to” the existing mortgage. You don’t need to be pre-qualified, or have your finances under a magnifying glass. The best part of this is that, even by taking over the payments on the pre foreclosure property, you’ll still enjoy the tax advantages – without the risk of being personally liable for the mortgage and the property.

So let’s put it all together: A motivated seller, a willing bank, a large equity spread, and little or no liability – what’s stopping you from being a prosperous pre foreclosure investor?

Posted in Uncategorized | Comments Off

Foreclosure Investing: The Beauty of Ugly and Vacant Properties

For real estate profits with minimal cash outlay, foreclosure investing is a good way to start. Foreclosure investing entrepreneurs stay up-to-date about foreclosures in their area by combing the public notice sections of the local online newspapers, looking at courthouse records, and doing research online. Many, however, overlook another great way to find foreclosures: farming neighborhoods for ugly houses and vacant houses.

For foreclosure investing purposes, “ugly” refers to property that is neglected, is in need of repair, has boarded-up windows, etc. Ugly homes and vacant homes are often a good bet for foreclosure investing opportunities. Ugly homes and vacant homes are often a good bet for foreclosure investing opportunities. If the owner is not caring for the property, this can indicate that he can’t afford to, and may be approaching foreclosure, or may just be relieved to have the property taken off his hands – a foreclosure investing opportunity for you.

It can be tricky to track down the owner of a vacant property, and that’s where persistence pays off in huge dividends in foreclosure investing. Start by asking the neighbors. You can also ask the mail carrier for the name of the owner. Contacting the local tax assessor’s office or looking up the deed in the County Records office can also provide you with the property owner’s name. For success in foreclosure investing, these are all methods you should become familiar with.

Once you have the name of the owner, you can often find his address by getting a copy of his change-of-address form on file at the local post office. Many online services will search public databases, such as the Driver’s License Bureau, and provide you with the owner’s address.
There may be a charge to use some of the more extensive search engines, but if you’re serious about foreclosure investing, you can think of it as a minor business expense – one that will pay for itself by leading you to foreclosure investing profits.

When it comes to foreclosure investing, remember that property owners are often very motivated to sell, but may not realize the option is available to them. This is where you come in: be persistent in locating the owner, and you increase your chances of foreclosure investing profits, as well as the owner’s opportunity to escape a stressful situation. Foreclosure investing is a win-win situation.

Posted in Uncategorized | Comments Off

Don’t Let Real Estate Contracts Scare You Away From Big Profits

In recent blog posts, I showed you how to avoid the worst pre foreclosure and probate investing pitfalls. Being aware of these mistakes and how to avoid them can save you time and money, and ensure that you get off to a smooth start in pre foreclosure and probate investing.

In one of the recent blog posts, I showed you how to avoid the 3 worst pre foreclosure and probate investing pitfalls. Being aware of these 3 mistakes and how to avoid them can save you time and money, and ensure that you get off to a smooth start in pre foreclosure and probate investing.

Today I am going to talk about something that many beginners find a little scary: real estate contracts. By the time you’ve finished reading today’s post, I hope you’ll see how simple it is to properly complete a real estate contract, and how easy it is to use your contract to fully protect yourself in case a deal doesn’t go as planned. You would use the exact same contract to purchase a foreclosure as you would a probate home.

By answering some of the most frequently-asked contract questions, my goal is to take the mystery out of contracts, once and for all. Let’s get started.

“I’m afraid of all of that legal mumbo jumbo. How do I know I won’t do something wrong?”

While I can’t take the place of an attorney, and I would never discourage you from getting an attorney’s advice for anything you’re in doubt about, you can complete a legal and legitimate contract without the help of an attorney. Why? Because you’ll be using a pre-created legal contract that’s been supplied to you by a local real estate agent. This type of contract is a real estate contract that has been approved by your state. All you’ll need to do is know how to properly fill in the blanks.

My course gives you a sample contract, and shows you, step-by-step, line-by-line, how to fill out a contract. It even tells you how to get real estate contracts, free, and how to get a real estate agent to help you fill out your first few contracts.

“What if I want to change part of the contract?”

Before you or the homeowner sign the contract, you can cross out parts of the contract that don’t apply, and you can add special conditions by handwriting or typing them in. NOTE: Anything that you hand-write into a contract will override the original contract. This means that you can change the contract by simply writing the change(s) into the contract by hand. This allows you to tailor the contract exactly to your needs quickly and easily. Whenever you do this, though, both you and the seller must initial each portion that is added or crossed out. This shows that all parties acknowledge and agree to the additions and deletions.

“What if something goes wrong with the deal and I want to back out?”

A “weasel clause” allows you to back out of the contract if you feel uncomfortable about it, and protects you from legal liability. In fact, you should ALWAYS have a “weasel clause” in your contracts. My course shows you exactly how to write a weasel clause, and where to put it in your contract.

“Is a legal contract really that simple?”

Yes, it’s very simple. But besides filling in the blanks correctly, here’s what makes your contract legal:

1) You make an offer
2) You get acceptance of that offer
3) You sign the contract
4) The seller signs the contract
5) You give the seller a deposit on the contract.

It’s that simple. When the seller cashes your deposit check, the contract is considered legal and binding.

And by the way, remember how I’ve said that you can do a deal with just 10 dollars? Here’s where that 10 dollars comes in. Yes, it’s true – your deposit only needs to be 10 dollars!

I hope you’ve seen how even a beginner can complete a legitimate contract for a foreclosure or probate deal, and how you can ensure that you’re completely protected, even if you want to back out of a deal. There’s plenty of help in my course to ensure that you’ll be able to confidently negotiate every contract, starting with your very first deal!

Posted in Uncategorized | Comments Off

How to Double Your Real Estate Investing Profits

Last time, I revealed tips for maximizing your profit on preforeclosure homes. Once you know the techniques for finding them, you’re on your way to making astonishing profits – in just a few hours a week and with almost no cash outlay of your own.

Today, I want to tell you about an additional way you can make tens of thousands of dollars in profits per deal. When you use this approach together with my method for pre foreclosure investing, you can easily make double the money – and still in just a few hours a week!

I’m talking about probate homes. They offer an exciting opportunity for those who are new to real estate investing, as well as to those who are more experienced and would like to supplement their pre foreclosure earnings.

Don’t be put off by the legal-sounding term, “probate.” A probate home is simply a home that is part of an inheritance. Many people who inherit a house don’t want or need it, and want to sell it as quickly as possible so that they can get their inheritance money. AND – they are often willing to sell the probate home at a huge discount just to get rid of it.

You may be thinking, “But Lance, don’t probate homes involve a lot of red tape?” The truth is, probate investing is much easier than you might think. Keep reading.

Probate home investing is as simple as preforeclosure investing. It gives you the same opportunities to buy at a deep discount, or to flip with almost zero cash outlay.

Why else are probate homes a good way to start making easy profits?

You’ll have less competition with other investors. Many investors avoid probate properties because they misunderstand what a probate house actually is. Because of the red tape that is mistakenly associated with probate homes, some people tend to shy away from this marvelous investment opportunity. This just means more opportunities for you.

What’s more, probate homes are often paid off, or have a lot of equity. This means that the sellers are not concerned with paying off a large mortgage when they sell. They often tend to be very willing to sell their probate home at well below market.

With eager sellers, the opportunity for deep discounts, and the relatively low level of competition, probate homes are a great way to get started in the lucrative world of real estate investing. And, if you don’t have muchcash, you can flip probate homes and still make satisfying profits.

Posted in Uncategorized | Comments Off

Pre Foreclosure Home Investing: Tips for Higher Profits from Flipping Homes

When it comes to making profits in real estate, pre foreclosure investing can go hand in hand with flipping homes. (For those who are new to the world of flipping homes or to pre foreclosure investing, flipping generally means to buy a home at a very low price, make improvements to it, and quickly sell it again for a profit; a pre foreclosure home is one that is scheduled for a foreclosure auction because the owner has defaulted on mortgage payments.)

You can profit from flipping homes by buying and improving pre foreclosure properties, if you exercise some caution. Here are some points to keep in mind for pre foreclosure investing, especially if you plan on flipping homes you buy:

Don’t underestimate the cost (or the time needed) for repairs to a pre foreclosure home. Because the owners of pre foreclosure homes are most likely in a desperate financial situation, it’s likely that they have also not been able to keep up repairs and maintenance on the pre foreclosure home. Because the owners of pre foreclosure homes are most likely in a desperate financial situation, it’s likely that they have also not been able to keep up repairs and maintenance on the pre foreclosure home. If you plan on flipping homes you buy this way, make sure your repair costs don’t negate your profits.

Make sure that you acquire the pre foreclosure home at a low enough price that that you can turn it around quickly, even after repairs, at a profit.

Don’t put top-of-the-line, expensive upgrades into a pre foreclosure home that you plan to flip, unless, of course, the quality of the other homes in the neighborhood demands it.

Putting granite countertops and a luxury spa into a $65,000 house just doesn’t make sense, and will force you into a corner where you’ll be forced to ask a price that’s not supported by the market in the neighborhood.

Look for pre foreclosure homes in areas that will appeal to a wide range of buyers. If you plan on flipping homes for profit, you need to concentrate on a market where people are ready (and able) to buy. It just doesn’t make sense to buy a pre foreclosure home and expect to make a huge profit if it’s in an area where no one wants to buy, or where the homes are all worth less than the price you need to get out of the pre foreclosure home in order to profit. Many people who have had success with flipping homes suggest looking for pre foreclosure deals in mid-range neighborhoods with slightly run-down but solid-looking homes.

Keep these points in mind if you plan on making a profit flipping homes that you’ve bought in pre foreclosure. It can mean the difference between buying a peach and being stuck with a lemon.

Posted in Uncategorized | Comments Off

Probate Homes: How to Profit from Real Estate without Spending a Dime

If you’ve dismissed the idea of investing in probate homes because you think they might involve too much red tape to be worth it, think again. “Probate” is an often misunderstood term. A probate home is a house where the owner is deceased, and the house is now part of an inheritance. In reality, probate homes offer some of the best opportunities to make profits with real estate. Here’s why:

 - Often, a probate home has been inherited by several family members. When this happens, the family members tend to want to get the cash from a quick sale of the property.
 - Most probate homes carry no mortgages. This means that the heirs don’t have a balance to pay off, so they can sell you the house at a low price and still end up with a lot of money.
 - Many times, the heirs to a probate home live out of state and don’t want to deal with a long-distance sale, so they’re willing to sell quickly.
 - The heirs may already own homes, and don’t want to maintain another one.
 - The probate home may be in poor condition, or may need a lot of updates. The heirs would rather sell quickly than spend time and money fixing up the property.

As with foreclosure homes, you can make quick and substantial profits with probate homes, often without spending a dime. Here are two ways:

 - Find an investor who is willing to put up the money to buy the property, then sell the property and split the profit with the investor.

I recently made over $12,000 by doing just that. I found a probate home whose heirs were eager to sell. My investor put up $103,000. After we painted and carpeted the house, we put it up for sale with an agent, and in just three days, we sold it for $159,000! After expenses, our profits were $12,240 each.

 - Flip the probate home. Flipping just involves quickly reselling the home to an investor. Even if you don’t have the money to buy the home, you can flip it, using just 10 dollars of your own money – enough to pay for the contract deposit.

In another recent deal, I made a quick $17,000 by flipping a probate home to an investor. I had the investor lined up in advance. The probate home was worth $210,000, but since the heir didn’t want the house, he was happy to sell it to me for just $125,000. I turned around and sold it to my investor, who, knowing the house’s value, was only too happy to buy it from me for $142,000, netting me that $17,000 profit.

My courses show you how you can make profits like these, too. I’ll walk you through finding the properties, lining up the investors – and even provide you with sample letters and ads you can use. Learn more at http://www.propertyforeclosure.com.

Posted in Uncategorized | Comments Off

Don’t Let Fear Keep You from Making a Killing at Real Estate

Sometimes I’m astounded at how many people think that it’s impossible for the average person to make a lot of money without a brilliant idea or a lot of hard work (or a lot of luck). Every day, these people drive or walk right by potential sources of low-effort wealth without realizing it. I’m talking about real estate investment.

No matter where you live, you probably pass by similar untapped opportunities: empty homes that the bank owns, homes that are facing foreclosure, and homes that are going through probate (inherited homes where the heirs would rather have the cash than the home). All of these properties are in situations where the owners are practically begging someone to take their homes off their hands.

But some common fears and assumptions keep the average person from enjoying the prosperity that can be theirs through real estate investing…

Many people believe that they either have to get a mortgage loan or have a lot of capital saved up to invest in real estate. But you don’t need a huge outlay of cash, or a mortgage loan or even great credit. Not only can the average person invest in real estate without laying down much (or sometimes, any) money, but they can make a handsome profit in the process.

Take the case of one of my students, who turned $1 into over $11,000 in only six hours. He used one single dollar as a deposit on his contract to buy the property. He then quickly sold his right to buy the property to another investor for a net profit of $11,214.40.

“But what if I can’t quickly find someone to sell to?” Some subscribers have asked me. And “What if I don’t have time to sit back and wait for the house to sell?”

You don’t have to have a “for sale” sign in the yard to sell property. My courses show you how to easily find eager buyers and have them lined up and ready to buy, whenever you have a property to sell.

And don’t prevent yourself from investing in real estate (and, consequently, from enjoying the profits) because you think you need to have a real estate license, or real estate investing experience. You don’t need either. My courses are designed for people with no experience in real estate, and no knowledge about foreclosures or investing.

Don’t let your fears or assumptions keep you from making your own fortune. Investing in foreclosure homes, preforeclosure homes, and probate homes can bring you real wealth very quickly, even if you don’t have any money, even if you don’t have selling experience, and even if you know nothing about real estate investing.

Find out more about how my courses “take you by the hand” and lead you step-by-step to real prosperity: http://www.propertyforeclosure.com

Posted in Uncategorized | Comments Off