How to Buy Foreclosures By Doing What Others Can’t
For more great Foreclosure Investing secrets from Jason Loucks and a FREE CD on how you can start profiting from Foreclosures, Preforeclosures, Short Sales, and REO’s for yourself, go now to: http://www.PreforeclosureFortune.Com
Many self-proclaimed real estate experts will try to tell you how to buy foreclosed properties so that you can make money. They’ll try to show you how buying no-equity homes and doing short sales can make you richer than you ever dreamed. However, they are limited in their information in most cases, because there are a variety of great ways to buy foreclosures beyond just the one. There are also some more basic things that you should know before you get in too deep.
There is a lot to learn about how to buy foreclosures, but the most important things are learning how to buy low, and how to sell high. And that includes preforeclosures, foreclosures, short sales, and REOs (bank owned properties).
If you learn only one method for profiting from these lucrative foreclosue deals, you’ll limit your profits to only 10% of what you profits could be. But if you learn just a little bit more, and understand the foreclosure process, you can make 10 times the profits in a fraction of the time!
You should also understand that foreclosed property lists are FREE public records. While you can sign up for the listing services that deliver them to your inbox for a small fee, you don’t HAVE to. You can find them with the public records department or at your local library, free of charge if you’re willing to look. You can pay for them if you want, but you don’t have to, like many ‘foreclosure experts’ try to make you believe.
Buying foreclosures is much simpler than many people make it out to be, and you aren’t limited to only one type of foreclosures. You can even get other people to fund your purchases of foreclosed properties if you know what you’re doing. If you take the time to learn, you can buy foreclosures and make a killing in the real estate market, without all the work and effort that many people suggest is required. There are many great deals to be found, if only you’re willing to learn how to take advantage of them.
There are two different documents that people receive when their home is foreclosed on: Lis Pendens and Notice of Default. These two documents might have different names, but they are the same thing. Each basically states that the owner is in default on their payments and begins the foreclosure process.
You should also understand that each state has different laws and time frames for everything. Many states have a 3 month window for default on payments before the foreclosure process begins, but some states have laws that allow foreclosure to start in as little as 30 days.
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