Real Estate Investing Pre Foreclosure Secrets

Real Estate Investing Pre Foreclosure Secrets



Real Estate Investing: Pre-Foreclosure Secrets
On April 14, 2018, ABC News reported that 1 of​ every 428 houses in​ Ohio is​ going through some foreclosure process .​
That's just indicative of​ the​ mortgage crisis that is​ currently gripping the​ nation by the​ throat .​
Profit from other people's misery by learning preforeclosure secrets in​ real estate investing .​
You can make the​ seller's misery a​ little less from buying a​ preforeclosure property than a​ foreclosure property .​
a​ preforeclosure does not say on a​ person's credit record as​ long as​ a​ foreclosure does.
Location, Location, Location
In real estate investing, you will drive yourself insane looking at​ properties in​ random areas of​ the​ country or​ state .​
You need to​ select your location first and​ then see what properties are available .​
It's no good buying a​ beautiful mini mansion in​ Ohio if​ there haven't been any significant sales in​ that town for​ ten years .​
Once you get your location chosen, then you can focus on the​ properties.
Many in​ real estate investing prefer to​ work with preforeclosure properties than ones already in​ foreclosure .​
You not only feel good helping the​ homeowner out a​ little bit, but you can often save as​ much as​ 40 of​ the​ house's market value.
Don't be surprised if​ the​ homeowner doesn't answer the​ phone or​ the​ doorbell .​
They may be scared that you are a​ bill collector .​
They may also feel shame and​ confusion .​
Be patient .​
Slip a​ note under their doors if​ you have to, just to​ let them know that you are not a​ bill collector or​ their lenders.
Talk To Your Accountant
In order to​ save more money, those in​ real estate investing may be entitled to​ a​ large rebate for​ every foreclosure or​ preforeclosure piece of​ property they buy .​
This is​ due to​ the​ Foreclosure Prevention Act of​ 2018 .​
However, since tax laws seem to​ change by the​ minute, don't count on the​ rebates .​
if​ they happen - great, but do not gamble everything on getting a​ whopping great rebate check in​ 2018.




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