Can I really make as good a living buying foreclosures and preforeclosures as some people claim?

Answer 1

Yes, I do it for a living. It takes ambition and a creative mind. I personally like it because you get paid to help other people. Don't need money nor credit to get started.

Regards

Answer 2

Yes you can.But the power is with in you.You need to be ready and prepare to battle the banks,attorneys,courts etc.If you educate yourself you will do good.You really do not need money or credit to start(maybe to buy some of the materials and programs).Example.If a homeowner is behind on the mortgage(pre-forclosure)and you discount the property.At the same time find a buyer.There is were your money will come from to payoff the mortgage debt.I had a house the debt was for 130,000 I discounted for 70,000.00( I already had a buyer for 170,000.00) had a double closing and walk in to closing with zero $ and left closing with$97,000.00 profit.Keep in mind this is one property.So yes you can make money in foreclosures and preforeclosures as some people claim.
Good Luck
www.foreclosureavoidance.ws
Real Estate Investor

Answer 3

Yes, first you have to find foreclosed home in your area. You have to have good relationship with your bank, and you have to be able to finance this process. Most homes that are in foreclosures are owned by people who most of the time is going through some financial hardship, so you have to be sensitive to their needs. You have to make sure you don't appear money hunger and be prepared to make some sort of applicable settlement with them. You also have other experience investors, to compete with. Most people who do this also have other things working for them, so if you are relying on this as the only source of income, don't even bother. It is hard work, time consuming and you have to be financially stable. I hope I was helpful......

Answer 4

No. You make money by inventing some crap about how to do it, making questionable, barely legal claims and selling it on dirt cheap cable ad spaces. If it worked, everyone, everywhere would be rich.

Or, why doesn't putting a fan on a sailboat push the boat? Find out and you'll find out why no one got rich doing nothing.

Answer 5

In my journey, I actually have not in any respect seen a REO being provided with a end declare deed. it quite is a flimsy thanks to convet identify and that i'd be skeptical. even though it quite is merely in my section, on your neck of the woods, this can be difficulty-free. this can be the way deed in lieu of foreclosure are dealt with. call an section identify corporation and ask.

Answer 6

How much capital do you have to put into the idea ? That is where the money is made in the end . If you run it on a credit type , your profits will be gone before you even start. buyer beware.

Answer 7

Great article on this very topic in the Wall Street Journal yesterday. Go to www.realestatejournal.com for a copy.

Answer 8

If you're refering to those late-night infomercials, read the disclaimer along the bottom of the screen. "Results not typical." That should pretty much answer your question.

They hawk that junk on late-night for a reason. The ad rates are very low, so they don't need to hook very many suckers to cover their costs.

Answer 9

yes. i make lots of $ doing this. but you have to know what you're doing. it's not a get rich quick scheme. take a realistic approach to wealth building. but it beats the hell out of a real job.