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you are here: DentalPlans.com > Dental Health Articles > Real Estate > Foreclosures Offer Investors Amazing Opportunity
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Updated: 9/29/2008 2:00:22 PM |
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 (ARA) - With an unprecedented number of foreclosures sweeping the nation, there has never been a more lucrative opportunity for real estate investors. Specifically, there is a large surplus of homes being returned back to the bank because the homeowners can no longer make payments, causing what the media is calling a "mortgage meltdown."
A successful strategy in the current market is the short sale where the bank agrees to takes less than the full amount owed on a mortgage that is currently in default. Used correctly, the short sale creates a win-win-win opportunity for all parties involved.
The bank wins when taking a discount on the mortgage because they avoid spending months being trapped in the foreclosure process with a nonearning asset. The homeowner wins as they get to escape from a mortgage on a house that they can no longer afford without going into bankruptcy or having their credit rating destroyed. Lastly, the investor wins by selling the house and making a substantial profit.
Dr. Larry Litman, co-author of the Foreclosure Success Guide, explains, "I've personally picked up houses that were facing foreclosure for $60,000 with a short sale, then I was able to turn around and sell it for as much as $80,000 just a few weeks later. That's $20,000 of profit for just 5 to 7 hours of work."
However, without the right system, these deals can fall apart before they even start. Working with the bank to complete a successful short sale is rather difficult without the right strategies.
Dr. Litman's son and business partner, Mike Litman explains, "You've got to have a proven system and do it right to get those kind of results. The fact is there have been a lot of people entering the foreclosure market without the right plan, and they got burned. We've made our share of mistakes along the way, and we want to help people avoid making these same costly errors. This is a great opportunity for those who are properly informed."
With the release of the Foreclosure Success Guide, investors will be able to see exactly how to complete successful short sales right in their hometown. The guide offers foreclosure investors strategies on finding pre-foreclosure leads in their area, negotiating with the bank, and selling the house for a profit. The guide also offers advice on automating the entire process, which the Litmans say takes only 5 hours of actual work from start to finish.
These foreclosure investing ideas and strategies could only be found in expensive real estate training courses and seminars until now. The new report called the Foreclosure Success Guide can be downloaded entirely for free at www.foreclosuresuccessguide.com.
Copyright © 2008, ARAnet, Inc.
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