Archive for Foreclosures For Sale
Be Smart And Start Real Estate Investing
Posted by: | CommentsMany are looking to real estate investing as a part or full time business. Many people think this is a good time to get into the game because there are many foreclosures on the market. Foreclosed homes are those that are owned by the bank or the lender.
The lender takes possession of the property when the borrower cannot make his monthly house payment. The banks then sell the property to those looking for a home to move into, or to real property investors. In most cases investors buy foreclosed properties because people who looking for a home to move into are looking for a house that does not need extensive renovation.
Most foreclosures are sold to investors because the property is usually in need of repair. The foreclosures are in disrepair because the people who were evicted from the home realized that they would have to move out so they allow the house to in essence, fall apart. Some even damage the house on purpose.
Property investors will rehab the home and then place it on the market for sale for a profit or they will rent the house for positive cash flow. People who buy homes that are repossessed by the bank, also called REO properties, or real estate owned, usually work with one or two qualified real estate professionals. Banks do not list their properties with just any agent.
They work with only a handful of agents who understand the REO market and sales procedure. The successful investor finds out the agents who work with REO properties and create business relationships with them so that they can find out of any new properties before they are listed on the MLS. The MLS is the multiple listing service, and is where all houses owned by the banks are listed for sale.
The MLS is the multiple listing service and once a house is placed on the MLS, it will draw a lot of attention and many bids. But an agent does not have to immediately place a home that he has been assigned by the bank, on the MLS. Before he places it on the MLS, he can call the investor he has a business relationship with and offer the investor the chance to bid on the house before anyone else is aware of the property
This is completely legal and within the rules of the real estate profession. The investor who has more friends in the real estate sales industry will be able to find out more good property deals.
If you need more information, you can visit Lisa Udy’s websites at Richmond UT Homes or Hyrum UT Homes.
Real Estate For The Beginner
Posted by: | CommentsHow many times have you turned on your television late at night and been bombarded with the latest real estate program that all but guaranteed you everything you ever wanted. Television, radio, and print alike are each swarming with advertisements created by these self-appointed masters who promise to guide you to wealth beyond your wildest dreams. And certainly it can be done in real estate, yet for the few who succeed there are so many more who fail, and still the late night guys manage to stay in business.
So how then to these men and women continue to pop up night after night? It is because people do succeed. They are the ones shown giving testimonials, but they are average people just like everyone else. They bought the program, implemented it, and made money, and they believe anyone can do it. Unfortunately you are more likely to fail than to succeed.
So what do they have that the rest of the population does not? That can be a difficult question to answer, however in many cases a lack of fear can sum it up. If you don’t have anything, you certainly don’t have anything to lose. If you are at rock-bottom and the only way to go is up you might be more open to taking risks, and in real estate, very little is accomplished without risk.
Sure, you could become a landlord. You could collect rent and make enough to live off of at the very least. Then again, You might only make enough to squeak by, spending most of your “profits” on things like maintenance, improvements, taxes, lawyers and legal documents, and even landscaping. The expenses are tremendous. If you can do most or all of the work for yourself, or even if you want to do it yourself, you have an advantage, but it does not come easy.
Foreclosures offer another real opportunity, however properties are sold on as “as is” basis, and this means there is quite often serious and sometimes expensive repairs that must be done before the property can be sold. Being a contractor or having those kids of skills can be a real money saver with REO properties, as well as a solid understanding of the market.
Still another way to get in to the game is by becoming a part of an investment group. This is a great way to make money, although you will make less due to the spreading of profits, however the risk is spread out as well. This might be a good way to go for the beginner who has a bit of spendable cash available.
So the late night guy or gal on television isn’t exactly misrepresenting the truth. Sill, they don’t usually focus on the risk and the hard work involved in making money through real estate. It can be done though, if you have the stomach for it.
Increase your knowledge from the expert Lisa Udy by checking out her website and visit Hyde Park UT Homes or Providence UT Homes
Locating Great Homes For Sale In Virginia
Posted by: | CommentsNot all real estate agents are the same. There is one that will listen and learn what you want. He will give the attention needed to find the right home for you and yours in your search for homes for sale in Virginia.
While searching for a house here, you will find many, many real estate agents that claim that they know the market. But many of them just get listings in hopes that another realtor will sell them. This way, they will still make half of the commission.
This agent is searching for buyers. And he does not get paid until he finds just the right home for you.
The sellers of Virginia homes love this Realtor. He takes the time to view the property before he takes you there. This way, he knows the rooms, the views, the color of the carpeting, before he brings you to the showing. He knows his listings, as well as the listings of other agents in the area.
When you express to this agent what you desire in a home, his brain acts like a file. Shuffling through the different available properties in his mind, he chooses the perfect ones for you. He will select three or four to show you, confident that one of them will be the one you have been looking for.
Take time in interviewing a couple of other agents over the phone. This is just for your piece of mind. Then call this one. After you speak with him, you will know that this is the one you need to work with when searching homes for sale in Virginia.
If you are looking for homes for sale in Virginia, the Web is the easiest location to start your search. Many Virginia homes for sale are listed, with pictures and details available to review. Unique version for reprint here: Locating Great Homes For Sale In Virginia.
Avoid This Mistake With Debt Collectors
Posted by: | CommentsThey sucked out $1,800. This caused major financial problems for this guy. He couldn’t afford gas to get to work. The reason that the debt collector was able to get the extra $1,300 was the fine print on the bottom of their form. The moral of the story? Never give any of your financial information to a debt collector or anyone.
If you do settle with a debt collector, only send them a payment where they can’t track you. Use a money order. Money orders keep all of your bank account information private. You can buy one with cash or a debit card. The debt collector will never get your account information.
Never give any of your financial information to a debt collector. Do not send them info on your checking account, savings account, IRA, 401k, or any other financial account you have. Many state and federal laws often give a debt collector permission to take money out of your accounts, with or without your permission.
Unless you are a lawyer, you won’t know if or when they can take money. So you are simply better off never giving them your info. The debt collection company that I mentioned above is based out of Colorado. I don’t remember their name. They tried to collect from another person I know. They were very pushy. They only wanted his checking account info.
They wouldn’t accept any other payment method. It appears they use that tactic on everyone they call. Hope this helps you in your situation. Would you like to discuss your situation with me? You can call e-mail me at Jaxssblog@gmail.comor call me at (386) 719-2330.
Our loan modification kit has the instructions you will need to get a loan modification approved. We show you how to prove to your lender that they will make more money by accepting your loan modification versus foreclosing on the house. They’re in the business of making money, right?
That is why this strategy works. Get more info on this strategy and the tools you need for a successful loan modification by clicking the link.
Discover how other sellers successfully did a short sale and request a free consultation by clicking the link.
Thanks for reading this, Chris Curry.
Chris is a real estate agent at Keller Williams Realty.
Phone: (386) 719-2330.
Email: Jaxssblog@gmail.com
Chris Curry and his team specializes in loan modification assistance and short sales in Jacksonville Florida. Jacksonville Loan Modification Help, Jacksonville Short Sales.
Learn more about keyword #1. Stop by Ben Curry’s site where you can find out all about keyword #2 and what it can do for you.
The Positive Results Conversation
Posted by: | CommentsCementing a deal has to begin with your first conversation with a client. We have some great success strategies in the short sale business, and this conversation is right at the core.
Any seasoned salesperson knows that the client’s needs and problems should be uncovered before any solution is offered. Once that is accomplished, you can customize your best solution to their particular situation. That’s just smart selling.
A short sale investor’s clients are people in financial trouble who need to sell their homes. Their issue is pretty simple, right? They are in default on their mortgage payments, and the lender wants either the home or the money. When you look a little deeper, that doesn’t really tell you what their needs are. Different people are worried about different aspects of losing their home. Facts are important, but a short sale investor who wants their trust and their business will find out what they’re really worried about before moving on with the conversation.
After you find out what their real concerns are, that’s when you begin tailoring your answers to those concerns. As they speak, listen carefully for the win-win proposition that you think will work for both of you. It’s a rare day when there isn’t a positive solution available for a homeowner in financial trouble. All you do is educate yourself about them, and then educate them about your possible solutions.
You’ve been listening to them for a while, and you now know their story. (If you’re smart, you’ve been letting them do most of the talking.) When they’re done – and only when they’re done – you need to talk about how working with you is the right solution to their problem. That’s where the Positive Results Conversation comes in.
The Positive Results Conversation gives you the chance to repeat their concerns back to them and explain what you can do to help them with each one. This is also the time to explain foreclosure options and how each option may affect their future.
Once you have gone over the options, the next step is to educate the homeowner about the short sale process. As short sale negotiators, we know that a short sale is the option that best minimizes the damage to the homeowner’s financial life, but most people don’t quite understand how everything works – and some people are very suspicious of things they don’t understand. That’s why we also talk about setting expectations.
There is no substitute for realistic expectations when it comes to getting involved in someone else’s financial business. An informed client who makes informed decisions is so much more likely to be a satisfied client. When you manage their expectations, you increase your chances of seeing the Positive Results Conversation work. When you don’t talk about what can and can’t happen, you risk putting yourself in the position of having to explain some unfortunate events later.
That’s also why you shouldn’t stop the Positive Results Conversation until you’re done explaining everything. The homeowner needs to know about everything in your presentation, or they won’t be able to make a fully informed decision about whether to work with you. If you leave an unfinished conversation, the homeowner won’t realize why your proposal can add value to their financial lives, and it may be easier for them to give up too soon.
Bring your own personality to the table, but stick to the script and keep the conversation under 90 minutes. By the end of your presentation, the homeowner should be able to see some positive results already: there is a knowledgeable professional in front of them who is willing and able to help, and there is a solution to their problem besides running away from it and watching what’s left of their credit rating go down in flames.
If you want to learn more, you can read about the whole Positive Results Conversation in the Short Sale Manifesto, which is a special report that can be found on our website (see the link below). There are a lot of talking points, but go over each one with the homeowner. We have done this for years, with positive results for homeowners and for us. Before you know it, you’ll be collecting all the documentation for the short sale package and moving forward.
Remember that this is a presentation we put together from experience. Everything in our Positive Results Conversation is specifically geared toward short sale success, and it has been proven to work over and over again. How will you really know when you get positive results? In your local market, you will become the one that people think of when they need someone who can solve tricky situations with problem properties. Your neighbors will know you as “the short sale expert”!
Need to know more about helping property owners in pre-foreclosure? Check out the Strategic Real Estate Coach resource page and learn our best short sale success strategies!