Today, thousands of homeowners across the nation are in
financial trouble and cannot meet their mortgage payments. Many of them
are in foreclosure now, and many more are in preforclosure.
Some are unable to make their payments because they’ve lost
their jobs or had their salaries cut. Others have faced illness, death
of a spouse, or divorce.
But no matter what the reason, the bottom line is there are
thousands of homeowners who can’t make their mortgage payments. They’re
facing imminent foreclosure and need to sell as quickly as possible to
avoid the damage to their credit. And of course, they’d like to get a
few dollars in return for the thousands they’ve spent on payments over
the years.
These homeowners would much rather take a small sum for their
equity now than lose both their credit rating and every dime of their
equity through a foreclosure – so you’ll be helping them as
well as yourself when you purchase their homes.
But what if there is no equity?
Experts estimate that 90% of all preforeclosure homes are
“underwater” today. That means they owe more to the bank than the home
is worth in today’s market. Those homeowners can’t sell to you at a
discount.
That’s why my course teaches you how to find the 10%
who do have equity and are free to sell to you at a discount.
It
isn’t as easy as some want you to believe. In spite of the big claims
made by late night television hucksters who want you to purchase their
courses, buying preforeclosures is not a walk in the park. For example,
you will need to know how to find the fair market value of a property
before you agree to buy it. You will also need to know exactly what
costs will be involved so you can clearly determine if there is
potential profit in the deal.Preforeclosure investing is very
profitable, however, it requires time, knowledge and effort.
How To buy Preforeclosure Houses for Big
Profits shows you exactly how to
choose properties that will be profitable. You will know the
exact costs of orchestrating a real estate deal before
you enter into an agreement to buy the property. This will
enable
you to see if there is enough profit in the deal for you. Then it shows
you step by step, how to deal with the homeowners to get the sale
closed, and the best way to resell quickly for maximum profit.
One more thing…
When buying preforeclosure properties, you might worry that
you’re taking advantage of someone. You’re not.
When you help someone avoid foreclosure, you’re helping them
move forward in life with a greater chance for success. I’ve even had
homeowners write me after the sale was closed, just to say thank you.
A real-life example of a
preforeclosure deal
I purchased a preforeclosure house worth $240,000 and paid
only $153,600 for it. The owner had moved out of the house months
before and was ready to let the house go to auction. I called the owner
and found that she would be happy to sell me the house at a deep
discount. After filling out a simple contract to
purchase the house and making a $10 deposit, I turned around and sold
the house -- the same day -- for a $25,000 profit.
I did this by selling the contract to another investor I
knew. By purchasing my contract, the investor then had the right to buy
the house for the amount agreed upon in the contract, which was
$153,600, plus my fee of $25,000. So, the investor paid a total of
$178,600 for a $240,000 house. Think of all the people
in your town who would jump at the opportunity to pay $178,600 for a
house worth $240,000!
Best of all, this deal helped everyone involved: The homeowner
received money because she owed the bank much less than the $153,600
she received. She was able to save herself from foreclosure and still
walk away with thousands of dollars in her pocket. I received a huge
profit for finding the deal, and the investor who bought the house got
it dirt cheap. Everybody walked away with a good deal. My course will
give you all the information you need to find deals like this.
And don't worry about deciphering complicated real estate
contracts either. Once you've read the clear and detailed examples
provided with my course, you'll be amazed at how quickly you can fill
one out. I'll even show you how to fill out a contract so that you have
absolutely no obligation. That's right, you can back out of the
contract anytime you wish. No risk!
You can use this method to
make tremendous profits in real estate investing without spending a lot
of time or money. You don't need a license. You don't need a college
degree. You don't need any experience in real estate at all. All
you need is $10 to use as a deposit on a real estate contract, and a
few hours of spare time each week.
Income aside, you can also use this fantastic system to buy a
beautiful house for you and your family at a very low price. Just think
of the luxury home you could afford if you knew how to buy it at a 25%
to 35% discount!
Probate
Homes Course NOW AVAILABLE!
A completely NEW way to make
tens of thousands of dollars in real estate!
A probate house is a house that someone
has inherited. Many people who inherit a house would like to sell it
quickly. They are willing to sell it at a deep discount just to get rid
of it quickly so they can get their inheritance money. It is shocking
how cheaply you can get probate houses -- and how much money you can
make with them!
How
To Make Big Money With Probate Houses goes
hand in hand with my foreclosure courses. Now you can double
the amount of money you can make by getting preforeclosure
and probate houses!
The people
who make the most money in real estate investing know how to find good
deals several different ways. Now YOU can
do the same. Click
here for more information about probate houses!
A
real-life example of a deal with a probate house
One of my most recent real estate deals involved a probate
house in Maryland. The owner lived in Texas and desperately wanted to
get rid of it. He had inherited it and did not want it. He arranged to
have me inspect the house. The house was in good condition and needed
only a few cosmetic repairs and a new roof. After checking with a real
estate agent, I found out that it was worth $210,000.
I made the owner a low offer of $125,000 and he accepted it! I
signed a contract with him. I gave him a $20 bill as a
deposit on our contract. (I would have given him a $10
bill, but didn't have one at the time.)
Since I had two other house deals going at the same time, I
decided to quickly resell the house to an investor and make
a fast, easy profit.
I already had an investor lined up and contacted him. He met
me at the house and I told him he could buy it for $142,000. The
investor had checked the value of the house and knew it was worth
$210,000. He was ready to buy it right away!
The investor purchased the house from me for
$142,000. This was exactly $17,000 more than I paid for it.
Do you see what I did here? I agreed to buy a probate house for
$125,000 and quickly resold it for $142,000. This gave me a quick
$17,000 profit!
This deal was very easy to do. I filled out a simple real
estate contract, then I sold the contract to another person for a fast,
easy $17,000 profit. (Don't worry, contracts are easier to use than you
think!)
Bank Repossessed Homes Course
As you may already be aware, bank repossessed houses can be
purchased at prices well below market value. These homes, known as REO
(real estate owned) properties are sold at drastic discounts simply
because the bank is only looking to earn back the money they are owed,
not make a profit. Banks also want to sell these homes as quickly as
possible, prompting them to give buyers really great deals.
Buying and selling houses
repossessed in bank foreclosures is a very profitable way to make money
in real estate. The key to success is to know how to locate these types
of properties and how to negotiate with the banks that own them.
You can get REOs at very low prices, then resell them to
investors and make big profits. The step-by-step instructions in my
third course on home foreclosures, How
To Buy Bank Repossessed Houses For Big Profits tell you
exactly how to do this!
A
real-life example of a deal with a bank repossessed home.
You can get absolute steals on houses seized through bank
foreclosures. One of my most interesting deals involved a townhouse in
Dumfries, Virginia that was owned by a bank. Because the property
needed a lot of repairs, the bank was very motivated to sell it at a very deep discount.
The bank arranged to have a real estate agent meet me at the
property so that I could see the inside of the townhouse before making
my offer. Both the real estate agent and I were surprised at what we
saw next.
When I say the townhouse needed a lot of repairs, I'm not
kidding. Once I was inside, I could not believe what I saw. Before the
house was foreclosed on, the former homeowner had tried, without a
permit, to hand-dig a wine cellar under his townhouse! In case you are
not aware, it is illegal and dangerous to dig a huge hole under your
house! Other than the hole that was the size of a bathroom, the
property was in very good condition.
Before making my offer to the bank I called the City of
Dumfries and asked what I needed to do to fill the hole under the
house. They informed me that the hole would need to be filled with
cement and sealed up. I called a local cement company and was surprised
to find that would only cost a few thousand dollars to fill up the hole.
Now that I knew how much money would need to be spent on
repairs, I checked with a local real estate agent to find out the value
of the townhouse. The agent told me that the property was worth
$130,000. I was now ready to make the bank a very low offer.
I knew that the bank did not want the property and was willing
to sell it at a huge discount, so I decided to make a very low offer. I
told the bank's real estate agent that I could offer the bank $21,400
for the townhouse. Evidently, the bank thought the property was in
worse condition than it was because my offer was accepted! That's
right, I paid only $21,400 for a townhouse worth
$130,000.
Now that I had a very good deal, I wanted to minimize my risk.
I did not want to do any
repairs to the property. As soon as my offer to the bank was accepted,
I turned right around and "flipped" the property to an investor for
$55,000. I told the investor to call the City of Dumfries and verify
what I had been told. He checked and realized that problem amounted to
filling a hole with cement. The investor was happy to buy a $130,000
townhouse for only $55,000.
All I did was take a property that I paid
$21,400 for and "flipped" it to a local investor for $55,000. My profit
on this deal was $33,600.
You might be wondering why I don't keep properties and have
them fixed up, then resell them for a larger profit. Sometimes I do.
However, if I'm in the process of fixing up a house and another good
deal comes along at the same time, I'll quickly resell the newer deal
to another investor. This way, I'm able to keep looking for more good
deals, rather than spend all of my time getting houses fixed up.
You can find great real estate foreclosure deals like this in
every area of the country. To make good money in real estate, all you
need to know is how to find good deals and resell them to other
investors. And don't worry, finding investors is covered in detail in
the course.
The real-life deals you've read are no more complicated than
they seem. All I did, in each case, was find a property that I could
buy at a deep discount, then quickly resold it for a large profit. Each
of my three courses will give you easy, step-by-step methods that will
teach you how to make big profits with foreclosure real estate -- the
exact same way that I'm doing it.
I answer the most common questions about investing in
preforeclosures and probate houses. They're not only informative but
also a confidence booster!
