Finding the Right Property

We all want to make money.  The problem is most of us think the only way to do it is with a 9 to 5 job.  This is not the case.  Investing in bankruptcies can yield a very profitable income with the right property.  It is finding the right property which can become the issue.  Not if you know where to look.

There are many homes right now in remax properties college station  that have become repossessed or are in the process of being foreclosed upon.  These properties are the ones you need to look at for your investment portfolio.  You can decide to rent them out or flip them.  The nice thing about these distressed properties is you can buy them either with little or no money down and at a fraction of what they are worth.

The banks are not in the real estate business.  They are in the business of lending money and earning from the interest.  When there are non-performing loans on the books it does not look well  for the financial institution.  It appears they have problems with their judgment and investors will not want to invest in the lender's portfolio.  This, in turn, costs the lender money.  By clearing the bad loans off the books, it puts the lender in better standing with their investors.  This is where you can clean up.

The lenders will look at any offer that is made on a property.  They will also say no to ones which are just too low for the value of the home.  You need to do your homework.  The first thing to do is find out how long a property has been in foreclosure or vacant.  This will give you a good indication as to how much the lender will negotiate when it comes to the property.  A new listing will be hard to obtain at a low bid. However, should you find one that has been on the market for a year or more, you can usually set your own price, within reason.

 There are many remax properties college station listed on the government repossession lists.  This is one of the best places to start looking for the right property.  You can find some of these homes with prices of less than $10,000.  The key to negotiating a deal with the HUD office is to be patient.  You can offer as little as $500 for a property which has been listed as a foreclosure.  Many of the properties for sale under $10,000 will actually sell for far less.  The nice thing is most of these homes are valued at over $30,000.

The best way to make money on the properties is to resell the property either as a rent to own or land contract.  Finding the right property for this is not very hard.  It is finding the right buyer you could have problems with.  There are so many people who have poor credit or have not been on the job long enough to establish a good credit rating.  These are the ones you will most likely be dealing with if you choose to lease option or land contract the house.  Finding the right property for these people is simply a matter of asking.

You can form a buyer's list.  This is a list of people who are looking for a specific property to buy.  You will know what they are looking for and have it all listed.  This will ensure when you come across the right property you know who to contact to sell the home to.  It is a win win situation.  You can sometimes create a deal with no money out of pocket when you have a buyers list.  It is a simple matter of negotiating.

You would set up a deal with the seller.  The buyer would be able to tour the home.  If the buyer is willing to purchase, he or she would come up with the money to purchase the property.  You would be acting as the middle man.  For a percentage of the sale, or an agreed upon price, the deal would be sealed.  All it takes is finding the right property.

 

To guide you in finding the right property, a local remax realtor bryan tx, would be of greaat assist. You can set up an appointment or consultation with Lisa Jones should you find the desire to invest in real estate college station.