In today's market the number of homes in foreclosure or those that have already been taken back by the bank are starting to eclipse the number of privately sold homes on the MLS. With the huge increase in these numbers it becomes imperative for real estate investors to add foreclosure auctions to there tool belt of real estate investing techniques.
Foreclosure auctions are not without there pitfalls and like with any investment strategy it is important to know what you are getting into before you plunk down the cash and bid on one of these homes at the courthouse steps. We don't have the space here to discuss the foreclosure auction process but if you are interested check out my article, "How do I Get to the Courthouse Steps."
Once a home is on the auction block at the courthouse there are 5 key things you need to do to not only get the best deal but also make sure you are protecting your cash.
Money, Money Money. Before you even think about bidding on properties at foreclosure auctions you need to line up your financing. If you are paying all cash you are golden but if you are like all of the rest of us you need money. Most states provide a very limited time to close on houses won at the sheriff's sale. This can be anywhere from immediately after the sale to a couple of weeks. The best place for fast cash is your local hard money lender. Build a relationship, get qualified and have them ready to fund your deals when you find one.
Finding homes. Most cities have services where you can get listings of homes that are or will soon be up on the foreclosure auction block....
So, you want to earn cash from home. One great way to earn money from home is by using eBay. Buying and selling in auction style can be fun and rewarding financially. It is easy to set up and account with them and it's free. Check out eBay.com and become familiar with their site. Notice in the upper right hand corner a drop down tab that reads sell. Click on the sell tab and select sale an item to begin this process. You will also, need to set up a new email address just for your eBay business.
Setting up an email account dedicated to your eBay business is a simple task. Free yourself from mixing business with pleasure in this instant. There are many places to obtain a new address. Yahoo.com and also Gmail.com are great sources for establishing new emails. You can create as many accounts as you need to run your businesses successfully. This process is simple also. It only takes answering a few question an you will have your new email account up and running.
Next you will need a PayPal account (PayPal.com). It is important to use a safe electronic means to accept money. Your buyers want to feel secure when making their purchases from you. Giving and receiving money online needs to be fast as well as safe. Signing up for PayPal is free also. This will make giving and receiving funds safe. Now that your account is set up and ready to go it is time to find a product to sell.
Begin with items at home. This is a grand way to get rid of some of the clutter and make some cash also. If you live in a place that makes having a yard sale difficult your problems are now resolved....
If you're interested in finding the best real estate investing sites, and you'd like to save yourself some time and aggravation, this article will give you some guidelines on how to do just that!
Never before has so much information been available to you, on just about any subject imaginable, and real estate investing is no different. Whatever information you're looking for is available online, and the good news is... most of it is free or very low cost on the best real estate investing sites. You just need to know where and how to search.
Want to know a secret? I've already done much of the hard work for you. I've been investing for several years, and I started searching for the best real estate investing sites a long time ago. I'll be happy to share the fruits of my labor with you, and I'm not going to charge you anything at all.
You see, there are just a few sites that really stand out from the rest, and that's why I call them the best real estate investing sites. They are the sites that give you the best combination of information and expertise, and they give it to you for free or very low cost.
Far too many sites give you nothing in the way of content or information. They'll never be among the best real estate investing sites because they're just sales pages or link farms. They're full of hype and promise, but you'll recognize them right away because there's nothing of substance there.
The best real estate investing sites are loaded with useful free content such as articles, reports, user forums and discussion groups, and more! They will also recommend books, courses,...
Buying homes for sale at the foreclosure auction may seem glamorous to some, but without proper preparation you may end up with an expensive life lesson. With a few simple measures one can properly harvest profitable properties time and time again minimizing risk and maximizing profitability.
The first measure, and the absolute most important, is to thoroughly research the foreclosure auction process in your area. Specifically the trustees sale auction dealing with bank foreclosed properties. In my area, our trustees' sales are held at the courthouse on Friday Mornings. Each state has different rights for the homeowner, bank and potential auction purchaser, start with a web search and research your area. It would be strongly advisable to spend an hour discussing with a knowledgeable local Real Estate Attorney or Realtor.
Once you are up to speed on your local Foreclosure Auction procedures and rules you need to begin attending your local auction as frequently as possible and tracking auction properties. You do not want your first time at the auction to be the same day you make your first purchase. You can obtain lists of properties in foreclosure from your local Realtor or through your local title company. A Realtor will be a great asset in providing comparable sales analysis and resale projections for your purchases.
Depending on your area, the information you receive may be sixty to ninety days in advance of the sale. To obtain more current auction data, research homes for sale on the trustee's website, the trustee is usually listed on the foreclosure sale data you receive...
There are 100's of different ways to earn money from home, some of them fairly easy & others a lot harder (this is not counting the scams, of which there are many!). One thing that you should always do if you are considering earning income from home, is to research the company, offer, type of work etc., by simply going online in Google and typing in any details you have, or even asking a question like, "information on xxx company" or "is xxx a legitimate offer". If there are any forums, blogs or sites with other people who have used the product, they will soon become evident and the feedback will be invaluable. Anyone can fall foul of the scam artists, as I nearly did recently when I saw an offer that looked to be viable, was professionally presented, involved well known names and seemed to be reasonably priced.
However, a few minutes after having Googled the offer I found several posts & sites with dissatisfied customers from 3 or 4 different countries, telling how they had been ripped off, misled & were out of pocket by a lot of money, needless to say I took the offer no further. Any good product provider will offer a no quibble money back guarantee so check they are a reputable company & if so then you have nothing to lose by trying the product. If it is a service you are signing up for (that is to do work for someone else or similar), never part with any money, accept if there is stock involved & the employer needs a deposit to cover the cost in case you don't return any goods, equipment etc., but then there should be a clear contract stating...
