The easiest part of your business will be finding properties. Why? There are a great number of markets you can work. Distressed property comes in many forms, such as pre-foreclosures, REO or bank owned properties, real estate auctions, probate properties, properties whose owners are going through divorce, and abandoned properties.
Category Archives: Foreclosure
Assigning Contracts
Up to this point, I have taught you how to make a fortune buying and selling distressed property for large profits. What I am about to share with you is a nother powerful concept which will multiply your money making options, and allow you to buy and sell property for no money down. The concept? Assigning your real estate contract to other investors.
Continue reading Assigning Contracts
Pre-Qualifying Buyers for a Mortgage
Now that you have found a buyer who has seen your property and wants to purchase it, it’s time to pre-qualify that buyer for a mortgage. Though the process may sound intimidating, I will make it easy for you. Continue reading Pre-Qualifying Buyers for a Mortgage
How to Sell Fast – Mastering the Art of Finding Buyers
What I am about to teach you is the most important lesson in my system — locating buyers to purchase your property. In this business, finding properties is easy! Once you establish yourself, you’ll have so many properties coming in that you won’t know what to do with them all. BUT, if you can’t find buyers to purchase your properties, you won’t make a penny! Continue reading How to Sell Fast – Mastering the Art of Finding Buyers
Welcome to the Foreclosure Investing Course
Acquiring Financing for Foreclosure Investing
Before we start to learn how to identify distressed properties, which is the easiest part of this business, you MUST HAVE your financing arrangements in order. The reason for this is that when you go under contract with a homeowner or Realtor and tell him you will close in 30 days you must close in 30 days. Closing within that time frame is not a legal requirement, but doing so will establish you with a good reputation; and in this business your reputation is very important. There will be times, however, when problems with title or some other issue may legitimately prevent you from closing within 30 days. If this occurs, simply inform the involved parties of the situation and let the chips fall where they may.
Continue reading Welcome to the Foreclosure Investing Course
Submitting an Offer to Purchase
This is one of the most important lessons in my program, so make sure everything is clear to you. Earning money as a real estate investor hinges on making smart offers on properties. Though high offers submitted may be eagerly accepted by sellers, they will also result in your losing or making little money on those properties. Submitting offers that are too low may result in great profit potential, but they are rarely accepted, so the profit potential remains just that — potential. To make money as a real estate investor you have to actually buy and sell property. The trick, then, is to submit as low of an offer as possible while retaining a good chance of being accepted. Continue reading Submitting an Offer to Purchase
Property Inspection and Valuation
In this business, accurately determining the value of property is crucial for your success. In whatever location you decide to start your business, you need to familiarize yourself with the real estate particularities of that locale. I have made all my money by working in just one county. Why? I have made myself an expert on the county; I know exactly what I can sell a given property for; I know when I can push the value up an extra $10,000 and when I can’t. These are good reasons for you to find a location, then stick with it and really study it. YOU become the real estate expert of your area. Continue reading Property Inspection and Valuation
Using the Post Office to Automate – Faster Easier Marketing more for less!
Many Other investors often ask me what is the best way to do direct mailings, and whom they should use as a service provider. (This article is geared to those who are not using the provided websites used with our system found at www.Realeflow.com/duncan)
To answer that question, it largely depends on depends on how often you are mailing, how frequently, and to whom. However, when you do larger mass mailings to large groups of people, one of the best, easiest, and most cost-effective methods of direct mail is using the United States Post Office website. The first time I used it, I was shocked at how simple, easy, and cost-effective it was for direct mailing to a list.
Once you visit the United States Post Office website, you can surf around and view all of their services. To get directly into the direct mail function, you can visit www.Click2mail.com and register for a username and password. Once you have done that, it walks you step-by-step through a wizard from the home page.
The first thing you need is your document, which you can either upload or create directly on the website. I prefer to upload documents that I have already created. I usually create the document in Microsoft Word or Publisher, and then save it as a PDF file. From there, I can directly upload the PDF and make any necessary edits to the document directly through the website.
Once I have approved the document, I can then upload my list. I simply have a list in Microsoft Excel, and it automatically uploads all of the names and addresses. I can do the whole process in less than fifteen minutes.
Once my list is uploaded, I can select a few more options, and my postcards are printed (two-sided) and mailed within 48 hours! It’s an amazing tool to use if you like direct mail. If you’re a real estate investor, you don’t have to just use these for Pre-Foreclosures. You can also use them for out-of-state owners, vacant properties, or any other types of lists that you can think of.
As I mentioned earlier, the most recent mailing I did was to a large group of Pre-Foreclosure prospects. Specifically, there were a group of 368 homeowners who were 90 days past due on their mortgage. That’s right; these homeowners hadn’t even been served with a Notice of Default yet.
I mailed out a 4X6 postcard to each one of them for a total of $111.39. That included printing and postage, for an average of $0.30 per card, including postage AND printing. I’ve done a lot of direct mail in my day, and this one is a great deal.
I would encourage you to visit the USPS website www.Click2Mail.com and learn more about their great direct mail service.
**** If you want to find out more about how you can get lists of homeowners who are either 30, 60, 90 or even 120 days late on their mortgage, please contact EZ Data Group Lists. (ask for Dave Hurlbrink to get special pricing for my students.)