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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] An overview Posted by Ward-CA- on June 16, 2003 at 6:27 AM In Reply to: getting started? posted by sam on June 15, 2003 at 9:59 PM : I am intrested in starting to buy foreclosure properties. I want to know the best way to learn the ins & outs of the trade. Can anyone reccommend if the courses on this website are valid or any other way to get started ================= Sam, You can enter the foreclosure investment business in a number of different ways and it can be a part-time or full time activity. The are three or four primary branches in the field. You can buy property from an owner in default, before the foreclosure auction sale. This is called the pre-sale arena. It scares a lot of people who don?t want to deal with the emotional distress of an owner in foreclosure. This can be a lucrative part-time activity. You can bypass the defaulting owners altogether and and buy their properties for cash at the local foreclosure auctions. This is the famous full-time arena that requires lots of money, knowledge and time. You have to be proficient in researching the title record to real property, raising cash and dealing with overseeing the rehab and resale of the property. Lots of beginners lose big in this area because they do not know enough when they start. The final area is buying foreclosure properties from the hapless lenders who got the property in lieu of getting paid off at the local foreclosure sales. The lack of bidders at the sale is generally attributable to an opening bid that was too high to be attractive to a foreclosure investor. So after they own the property the lenders are sometimes open to selling it at a discount to avoid having to deal with evictions, rehab, reselling, etc. I could go into a lot more, but this is enough to think about right now. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I am intrested in starting to buy foreclosure properties. I want to know the best way to learn the ins & outs of the trade. Can anyone reccommend if the courses on this website are valid or any other way to get started : ================= : Sam, : You can enter the foreclosure investment business in a number of different ways and it can be a part-time or full time activity. The are three or four primary branches in the field. : You can buy property from an owner in default, before the foreclosure auction sale. This is called the pre-sale arena. It scares a lot of people who don?t want to deal with the emotional distress of an owner in foreclosure. This can be a lucrative part-time activity. : You can bypass the defaulting owners altogether and and buy their properties for cash at the local foreclosure auctions. This is the famous full-time arena that requires lots of money, knowledge and time. You have to be proficient in researching the title record to real property, raising cash and dealing with overseeing the rehab and resale of the property. Lots of beginners lose big in this area because they do not know enough when they start. : The final area is buying foreclosure properties from the hapless lenders who got the property in lieu of getting paid off at the local foreclosure sales. The lack of bidders at the sale is generally attributable to an opening bid that was too high to be attractive to a foreclosure investor. So after they own the property the lenders are sometimes open to selling it at a discount to avoid having to deal with evictions, rehab, reselling, etc. : I could go into a lot more, but this is enough to think about right now. : : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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