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Foreclosure Auction: A Buyers Market For Profitable Properties

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Buying homes at foreclosure auction can make you very large profits. Some investors earn more then $75K on one transaction or you can buy the property for you and your family to live in and save the money. Conditions have to be right and the situation ideal of course to profit this much on a single property, it is possible though to make a substantial living on real estate investing. There is no better time then now, we are in a buyers market, with the increase in foreclosures in the US, there is an overwhelming number of “deals” available, you just need to know how to find them.

Investing in foreclosure bargains is not easy to do; some people make it sound like you simply walk over to the courthouse and make the deal. However, the trick is to purchase the home before someone else makes it his or her investment. Becoming a real estate tycoon is not about what you can afford, or what you are willing to spend, it is about the valuable information that you learn about a property. Research is a key factor to being a successful investing in the real estate industry.

While researching a potential foreclosure purchase, you need to find out some valuable information about the property. What you are willing to pay for a property and sticking to your limits is a great start, do not bid more then your research shows you should pay for the property. For example, if you research a foreclosure that has an estimated value is $250,000, once you deduct your renovation costs of say $30,000, this would still leave potential if you can purchase the home at auction for $140,000. Do not forget to calculate in the carrying costs, realtor fees and other expenses as you work out the budget and profitably of the purchase. Investing in foreclosures is about business, you are in it to make money, so make sure that you do your homework.

There are several key things to look for and research when looking purchase a foreclosure. Location is one of the firsts; it must be in a decent area if you expect to resell the home for a profit. General amenities such as grocery stores, banks, restaurants and other useful businesses is another thing to look for. People do not like to travel to far from home to get the basis things that one needs to live. The current market conditions play an important factor as well. If the employment opportunities are in distress, buyers may look elsewhere for a home.

Foreclosure listings can help you find properties that are in various states of foreclosure, the newest listing, in most cased, will allow the best opportunity to get buy them before someone else does. There are a growing number of websites that offer listings to homes in foreclosure; some sites give the basic information free, while most of them charge an access fee to obtain the detailed information such as lenders, default amounts and preliminary dates for auctions. This type of information is vital to the success of purchasing profitable properties; most of them will disclose secondary liens or judgments against the property that need to be resolved.

Wining a property at a public auction is not easy, but it is not impossible either. Proper and thorough research will go a longs ways in getting to the bottom of what you can and should pay for a foreclosure at auction. Set a budget, do your research and if it all works out on paper, then make a bid. Success at the auction is only, success, if the numbers work out and the property offers the profit potential that you have set your mind too.

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Posted in: Uncategorized Comments(0) January 2010

Competition Armando Montelongo Housing Market

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Competition in the housing market is going to be in full force during the next few years as the housing market slowly begins to turn around. The current buyers market will create good old fashioned price battles for properties. House flippers will actually have a good chance to still make profit in these times as long as they do their research on each venture. Armando Montelongo has made real estate wealth building popular again and even in today’s markets, where the amount of foreclosures are high, the possibility to make good profit buying and selling real estate is good.

Competition is good. Competition will help buyers get good deals on the buy-price and so when they reach the sell point, even if they still face a buyers market, because they got such a low buy price they can still make money. Competition drives prices down in any market. Competition drives prices down in the real estate market. Competition makes the sellers lower their prices out of sheer supply and demand issues. Even for Armando Montelongo category of house flippers, competition can be used to their advantage if they make sure that the buy price is a good one. Competition always streamlines prices and in real estate, that can be a good thing for the good old fashioned bottom line.

If your looking to make money buying and selling properties in the housing market, building wealth in eras of real estate competition is very possible. With the increased competition, the amount of deals also increased so business opportunities wealth building will and do exist. The current real estate market is prompting investors to read the fine prints’ fine print. And that’s not a bad thing. Competition redefines the fight in the real estate market. Even if the house is being flipped in just a few months, profit can be made if the buy price is a good one to begin with. Competition is a good thing. Profit can be made even with strong competition.

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Posted in: Uncategorized Comments(0) January 2010

The Rental Property Market

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Rental market soaring high and posing to be the most dynamic sector in Indian business scenario

Real Estate seemed to be the best investment opportunity with a growth rate that was even higher than the growth rate of our economy. But then started the realty blues, correction in prices, fear of the real estate being unreal and a bubble being on the verge of a burst.

And now there is a new wave with which real estate may surge once again, The Rental Property Market. At present the country’s commercial and residential real estate rental market has a price tag of approx $50 billion, and is expected to grow 25% on a yearly basis. There are numerous factors that contribute to this incredible situation in rental property market. Major factors that are responsible for bringing about this change include growth in information technology/information technology-enabled services industry like BPOs as they are renting large commercial spaces in order to expand their business process in India. Apart from this, emergence of India as an important investment hub in the world market, growth in foreign direct investments and simultaneous growth in the purchasing power of the Indian middle class plays a pivotal role.

With our industrial sector growing super fast, youth being more career conscious and BPOs churning uncountable employment opportunities we find brilliant talents from all over the country migrating to big cities like Delhi, Mumbai, Chennai and Kolkata. People coming to these places in large numbers have created troubles for required accommodation in these big cities and this is time when renting property comes into the scene.

In order to overcome this acute scarcity for good accommodation in the big cities and surrounding areas which can meet the requirements of the population coming to the cities for employment, people began renting their properties and soon realized that it is an amazing source for income as well.

Also for young people despite of the handsome salaries and attractive prerequisites they earn owing a property is not a matter of fun and hence the option with which they are left with is to go for rented accommodation. Moreover with people aspiring rich lifestyle and an accommodation that matches their taste further drives the prices of rental property up the wall and makes it a lucrative business opportunity.

At this point it can be very conveniently said that rental property market has great potential and can turn out to be a reliable source of income generation.

The advantages of investing in rental property market can be summarized as below:

1. Demand for accommodation is ever increasing and people are willing to pay huge amounts for an accommodation that matches their taste and meets all the mentioned specifications.

2. In case immediate selling of any property is not possible, renting the accommodation is a good business and the returns are amazingly high.

3. Only apartments in multistoried buildings are not in demand but people seeking independent houses for rent are also many. As a result investment in building independent houses for renting purpose is also a money-spinning business with high rate of return.

To read more about the happenings in the world of real estate visit http://www.indiapropertyauction.com

Regards

Lalsa

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Posted in: Uncategorized Comments(0) January 2010

Making Money in a Down Real Estate Market

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When the real estate market is booming, the price of property gets higher each month. Making money in this type of market is easy. In fact, you can hardly avoid making money in a hot real estate market. Just buy property at the going price with, preferably, a no points mortgage, hang on for a couple months, then put it back on the market and ask 10 percent more than you paid for it. If there are no offers at first, hang on, in a truly hot market, you’ll get your price in no time.

This crude form of flipping, along with other popular forms of “Getting Rich in Real Estate,” work as long as the market allows it to work. Buying fixer uppers, rental properties, subdividing, even just being a common homeowner are all lucrative strategies in a booming real estate market. In this type of market, if you own real estate, you will make money.

What about when the price of realty is going down? How can we make money in real estate then? Obviously, if someone buys a home at $300,000 and sells it at $200,000 he will lose money. So, buying and selling real estate in a down market won’t work.

In other types of commodities, we can short a futures contract in order to make money when the market prices are falling. Shorting is done by selling something you don’t own and buying it later. This is done all the time in stocks and commodities futures. When you short something you make money when the price of the shorted commodity falls and you lose money when its price increases.

Unfortunately, there is no practical way to short real estate because when you sell real estate, a deed must exchange hands. One could argue that a contractor could sell a house and lock in a high price, then build the house sometime later as the price for labor and supplies are declining because of a slowing real estate market. This, though it might have some validity, is not the same as shorting the market.

In real estate we have to learn to use the slow market cycles to accumulate properties and to use the hot market cycles as a time to cash in these properties by selling or refinancing them.

For people just starting out in real estate investing, a down market is the best time to enter. One great method for buying properties, for someone with little working capital, is the age-old gem known as renting with an option to buy.

In a hot market, you’ll never find such a deal. It’s too easy for the seller to unload his house at a large profit. But when the house won’t sell, you will find people who will do anything to get out from underneath its mortgage.

Realistically, you will have to look around a bit to find someone who will rent a house to you and give you an option to buy, but look hard enough when the market is slow, and you’ll find such a seller, for sure.

In some people’s situation, they need to sell their house before they can buy a new one. These people won’t be able to rent/option their houses. However, there will be people who have moved to another house already and there will be people who have invested in a house whose price is falling. Many times these people will listen to offers that may lead to their disposing of this property.

At first, people will tell you they will only rent to you, but after you ask about a rent with option, many sellers will change their minds. They will like the feeling of knowing for sure; the property will soon be out of their hair. Even if you make offers to rent/option and are denied a few times, you will find such a deal if you keep looking. These deals are made all the time in slow markets.

A great thing about a rent/option is, it is just that, an option. If you change your mind, you have the option of not buying the property, and if the option is good for two or three years, by then the price of the house may have increased and you will have made good money as soon as you exercise your option to buy!

Making money in a down real estate market means knowing how to buy properties creatively. It also means knowing when not to buy, namely, in a hot market. Using both cycles of the real estate market means essentially, you will make money in a down real estate market because you will be accumulating property that will be worth much more in a very short time.

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Posted in: Uncategorized Comments(0) January 2010

Knowing When to Get Out or Stay in the Real Estate Market

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The recent flooding of homes on the market, coupled with a recession and low buyer confidence, means property is not selling the way it was just a few years ago. In times like these, it is best to know how to cut your losses — and how to gain from the situation by learning when to stay in the market and when to get out.

Knowing When To Get Out Or Stay In The Real Estate Market — Talk To Your Lender

If you have an adjustable rate mortgage and cannot make the payments, or are facing prepayment penalties, you definitely need to talk to your lender. Some people are facing conflicting statements from loan modification representatives saying that they do not need to pay their loans. Call your lender, find the loan modification department and talk only to them so you figure out what is going on.

In this case, there is no room to negotiate. Lenders do not usually accept partial payments, although they will work with you to come up with a solution. In the meantime, put aside the money you would spend on a loan in a separate bank account to help pay loans later and keep your home from foreclosure.

Knowing Your Best Move In The Real Estate Market — When To Rent Out Your Home

Although real estate is plentiful at the moment, there are still people out there wanting to sell. After all, it is a buyer’s market, and there is a good chance you can get a better deal on a home in another neighborhood. With that in mind, some are turning to renting their property to help pay for a different home.

Renting comes with many risks, so if you are not up for the challenge, stay in your house until the market improves. The problem with renting is that unless you have amazingly respectful and punctual tenants, you will run into monetary issues, like late or missed payments, excuses for not paying and a trashed house. You are risking one of your investments with other individuals, so you must be tough on your tenants.

The Real Estate Market And When To Buy Another Home

The number of foreclosures is on the rise, which means those looking for a bargain will have many more choices. However, buying foreclosed does not always work. Financially troubled homeowners often no longer care about the upkeep of the house, so the majority of foreclosed homes are fixer-uppers in desperate need of work. Lenders are unwilling to invest in the repairs, so be ready to sink money into maintenance and renovations.

No matter what kind of home you want to buy, find a good real estate agent who will search for homes you can afford. Always be sure to hire a third-party home inspector to check out anything you are seriously considering buying. Getting involved in real estate takes some timing and common sense, so if you feel like you absolutely need to sell or buy a new home, go with your instincts despite market conditions.

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Posted in: Uncategorized Comments(0) January 2010

Ignore the Fear and Loathing in the Real Estate Market

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A famous quote by Theodore Roosevelt is a good one to look to in times like today. “In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing”.

It is overwhelming right now…everyone is talking about the pain in the market. The stock market is so unpredictable. One day it’s down to the lowest low in years, and then the next day it’s back up. Who can trust it? The banks in Canada are pulling some of their most popular mortgage and financing programs because they aren’t lending as much money and don’t need the creative programs anymore. The media is full of bad news stories… housing sales are down, foreclosures are up, there is no money and we are doomed! It is very hard to ignore. But, you should ignore it.

Remember, real estate investing is all about finding a good deal. You can find good deals in any market, but it is actually easier to find good deals when nobody else is looking. And right about now…nobody else is looking! Take a moment to get clear on what you want to achieve, then get out there and find good properties that meet your objectives. You will be glad that you did.

About 7 years ago my wife and I started our real estate investing partnership. Our first purchase together was a duplex in foreclosure. The building was only 11 years old at the time and had potential for great cash flow (it was near schools, transportation, a lake and shopping and services which would make it an attractive place for renters). The market where we bought had crashed and this property had been listed for sale on and off for over 15 months. The price had dropped from $199,000 to $179,000 to $169,000 and then went into foreclosure.

We ended up getting the property for $159,000 and within 12 months, had a nice positive cashflow of $300 per month. Since then, the rental rates have almost doubled, and while the value has more than doubled, it’s always been about the cash-flow. We timed the market well, but we weren’t sophisticated enough to do that on purpose. Our goal was to get a solid property that would generate money each month. If it had gone down in value, it would not really matter because we would still be collecting the rent and paying down the mortgage with the rent.

It has been one of the best purchases we’ve made and we are grateful we have it. Our objectives in real estate investing have changed a bit since then, but we are still looking for good deals. While we look for strong market indicators (future job growth, stable government, population growth, investments in transportation), we don’t look to buy into a market. We look to get into a deal. Stay true to your objectives and search for the deal, don’t try to time the market.

Are you sitting on the sidelines doing nothing right now? Remember…the worst thing you can do is nothing, so ignore the fear and the loathing and take action on your objectives.

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Posted in: Uncategorized Comments(0) January 2010

The Rental Market and Florida Property

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The Florida real estate market was particularly hard-hit, even devastated, by the implosion of the housing bubble that characterized the past 10 years. The Miami market, like all urban markets, saw sharp decreases in home value, an increasingly tight credit market and the loss of jobs and reduced incomes caused many homeowners to put their homes on the market or, in the worst cases, fall into foreclosure and end up moving not of their own accord. This sad situation has been repeated all over the nation in the months since but signs of recovery, slow and steady, are beginning to show.

In Miami, investors have shown significant interest in purchasing distressed properties. Distressed properties are those that have fallen into foreclosure and are usually available at significantly discounted prices compared to their standard market value. Banks generally want to unload these properties as soon as they can and savvy investors, looking for a way to turn an economic tragedy into a source of new opportunity, have begun to take an interest in these properties.

Homeownership was touted, especially over the last 10 years, as the most sensible dream of any responsible American. However, many individuals—the majority, in fact—in the US are renters. These individuals prefer the freedom and excitement that comes with being able to change homes for only the cost of another deposit and the move. Investors in the South Beach, Miami Beach and Sunny Isles, Florida region seem to have noticed this market on the edges of their radar and realized that there is potential profit to be made in providing for the needs of this segment of society.

While owning a seaside home may be out of the financial range of most Americans, rending one may be well within it. Investors purchasing the distressed properties left in the wake of the real estate bubble’s utter collapse have begun purchasing these properties in the aforementioned areas, oftentimes at surprisingly low prices, and turning them into rentals. As more Americans have come to view a mortgage as a not-entirely positive way to manage their money, the market for rental homes is sure to increase. Purchasing these homes at distressed property prices and converting them into rental homes not only helps the investors, it helps many families get into a new home and possibly one they could never afford to purchase outright.

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Posted in: Uncategorized Comments(0) January 2010

How I Learned To Sell My House Fast, Even In This Slow Housing Market!

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I had been trying to sell my house for over two long years before I discovered how to sell my house in 7 days or less. I had a house in another state in which I no longer lived. In addition to the house I lived in, I was paying a first and second mortgage, utilities, taxes and outrageous rates for vacancy insurance month after month while my house sat empty and unsold. The house was bleeding my bank account to death, especially when the real estate and credit market started to go downhill.

Before I moved, I tried to sell my house myself “For Sale by Owner” (FSBO) with no luck. I had no idea how to effectively market my house to generate buyer interest, how to get them financed, how to complete the purchase and sale paperwork and the like. After I failed to sell my house myself, I listed the house with 4 different Realtors for six months each. They told me the that my house was beautiful, that they could sell my house fast and get top dollar. They promised me that they would market my house in the paper, magazines, on the MLS and do multiple open houses and more. In reality, they barely lifted a finger. They listed my house on the MLS, put a sign in the yard and forgot about my house. They did no open houses as promised, advertised in no magazines and never showed the house. I lost two years worth of mortgage payments, taxes and utilities that I will never recover.

Perhaps you’ve found yourself in a similar situation. Perhaps you are making two house payments, trying to sell an ugly house, in foreclosure, bankruptcy, going through a messy divorce, dealing with the death of a loved one, lost your job, had an extended illness or just can’t afford to make your house payments anymore. Perhaps you too have tried to sell your house on your own or through a Realtor with no luck. Regardless of your reasons for wanting to sell your house fast, there is a better way to sell without trying to sell your house yourself or listing through a Realtor. You can sell your house in 7 days or less and here’s how…

I was searching the Internet one day looking for yet another Realtor to list and sell my house when I came across a local company that claimed to buy houses in 7 days or less. Perhaps you’ve seen some of those local “We Buy Houses” people or companies in your neighborhood. I called the home buyer and he said that they were indeed a local, professional home buying company that buys houses in any area, condition or price range, in 7 days or less, for investment purposes. He said they could pay me all cash, take over my mortgage payments and close quickly if needed. He said that if my house qualified, they could buy my house fast allowing me to sell my house in 7 days or less!

We made an appointment for him to come out and inspect my home within the next 48 hours. He loved my house and said it was exactly the type of home that he and several of his customers were looking for. He made me 2 different offers to purchase my home on the spot. One was an all cash offer to buy my house below current market value. This offer would have netted me about the same amount I would have made had I listed and sold through a Realtor. The second offer was to give me some cash now, take over my mortgage payments and cash me out of my mortgage and remaining equity later when he was able to resell my house to a new buyer. This offer would give me a higher sales price, some cash now, immediate debt relief from my mortgage payments and the rest of my cash later. If I had not been trying to sell my home for two years, I would have taken the 2nd offer. However, because I had been trying to sell my home for so long, I took the cash offer and netted the same amount I would have likely made if I had sold through a Realtor. The home buyer handled all the paperwork and we closed later that week with a local real estate attorney. My house was bought and sold in 7 days or less! Man, I wish I had met these guys two years ago!

If you too have an unwanted house you need to sell fast for any reason whatsoever, I recommend you contact one or more local, professional home buyers in your area before you list your house with a real estate agent or try to sell “For Sale by Owner”. You owe it to yourself to see what these folks have to offer before you lock yourself into a six month listing agreement with a real estate agent and end up waiting two years and thousands and thousands of dollars later to sell your home for the same amount you would have likely netted to begin with. I found my local professional home buyer at www.WeBuyHouses.net and you can too. Just visit their website and complete their online questionnaire to contact a professional home buyer in your area. You have everything to gain and nothing to lose by talking to these folks. By selling to a professional home buyer is how I sold my house in 7 days or less and how you can sell your house fast too!