Foreclosures-Cutting thru the BS?

Cutting through the hype and BS

Every other day you hear, read or see a new a way to get rich quick in the real estate investing business with no money down, bad credit and little or no work. One of the most over hyped and misrepresented real estate investing come-ons is buying properties in foreclosure.
The Internet is polluted with web sites wanting to sell you access to their lists of property you can "steal" for 50% of value; coupled with books, tapes or other packaged BS on how to do it. Some are legitimate and valuable, most are not.
It is easy to find the lists; we link to some at the end of this course and you can find many more on your own. Do a search using "foreclosure" and you will find a whole list of lists. After you pay for access you will also find that you probably just missed the really good deals. "We're sorry".

Now here's the truth

If RHOL had a list of real estate investments that can be bought for 50% of value, we are not going to share it with anyone but our children, our very best friends, and perhaps my wife's deadbeat brother. We don't have such a list and neither does anyone else.
Now, that is not to say that great foreclosure property deals do not exist. They do. But whoever finds them first buys them and only tells you about it after closing. You will learn how to find those that actually do exist here, but you will also learn that it will take some effort and follow-through to find them and actually buy them. It is one thing to have the knowledge, we will help with that, it is quite another to get you to use it before your competitor does.

Information is everything

You will obviously need to know what properties are or will be for sale in order to buy foreclosures. You will need to learn how much the loan amounts are and what timeframes you are dealing with. Local newspapers will publish the properties scheduled for sale. That will provide some information and all you have to pay for is the newspaper subscription. You can go to the county recorder and research documents yourself. You can also subscribe to a legitimate service that obtains records and sells the information. The best services give complete, accurate information and others provide the basic minimum, but it saves time spent looking them up for yourself.
Another option is to go to the auctions in your area and ask the bidders who show up for the sale what local information providers are available. If they don't want to tell you, start smiling and ask someone else until you get the information you need.
Once you know which properties are in default, you can approach owners directly to buy their equity, arrange favorable financing with the existing lender, or whatever seems appropriate to benefit all the parties involved.
Whatever you decide to do after completing this course will be based on knowing which properties that are for sale fit your criteria.


www.911foreclosureinvesting.com