InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Annual Reunion Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Interesting perspective... Posted by Rick Harmon on June 09, 2010 at 9:08 PM In Reply to: Re: Knowing why won't make you more prepared... posted by New on June 09, 2010 at 11:50 AM ...but with that attitude you'll never do a deal. Sure, trustee sales competition can get hot and there certainly are barriers that will discourage many newbies from participating. But giving up before you've exhausted all of the avenues is what the regulars want you to do. I'm not here to give you a pep talk (but they may be what you need). What you need to know is that purchasing properties discounted at trustee sales is only one of a number of distrerssed property buying systems. Like most systems, there is a season to buy at the t-sales and times when it may not make so much sense. While it's very tempting to want to focus hard on one system, this just isn't practical year in, year out. You need multiple systems. Think of investment tools like a big toolchest, with multiple drawers. People come to me because they may think probate is THE secret map to the big hidden treasure, but alas, it's not. Nor is short-selling or REO's (try that in 2005?) Or seller financing in 2002? The key is to be flexible and be prepared to work the systems that are right for the time. Are you preparing for the commercial opp's just around the corner? Higher interest rates that will make a 0-equity deal with a 30 year fixed rate loan at 6% look like a homerun when interest rates reurn and surpass their historic 8.5% average? Hint: You'll make a lot more money in this business by becoming an opportunity detective and an expert at solving other people's problems than you will performing a one-trick pony act. Follow Ups: Re: Interesting perspective... New 9:34 AM, 06/17/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : ...but with that attitude you'll never do a deal. : Sure, trustee sales competition can get hot and there certainly are barriers that will discourage many newbies from participating. But giving up before you've exhausted all of the avenues is what the regulars want you to do. : I'm not here to give you a pep talk (but they may be what you need). What you need to know is that purchasing properties discounted at trustee sales is only one of a number of distrerssed property buying systems. : Like most systems, there is a season to buy at the t-sales and times when it may not make so much sense. While it's very tempting to want to focus hard on one system, this just isn't practical year in, year out. : You need multiple systems. Think of investment tools like a big toolchest, with multiple drawers. People come to me because they may think probate is THE secret map to the big hidden treasure, but alas, it's not. Nor is short-selling or REO's (try that in 2005?) Or seller financing in 2002? : The key is to be flexible and be prepared to work the systems that are right for the time. Are you preparing for the commercial opp's just around the corner? Higher interest rates that will make a 0-equity deal with a 30 year fixed rate loan at 6% look like a homerun when interest rates reurn and surpass their historic 8.5% average? : Hint: You'll make a lot more money in this business by becoming an opportunity detective and an expert at solving other people's problems than you will performing a one-trick pony act. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-date("Y"), InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455