Make Money Today In Real Estate
Posted in Articles on 03/19/2010 02:49 pm by Guest AuthorWhen investing in lease options, it is harder for us to find quality tenant/buyers when almost anyone who can fog a mirror can get a mortgage.
Most buyers are not in a position to wait 4 months to move into a new home and most buyer’s agents are really hurting financially also and showing their coveted buyer a house that won’t close for 4 months will not help their short term financial needs.
When other markets were heavily leveraged or securitized, the inevitable bursting of the speculative bubble was largely isolated to a specific market or industry.
You can still make money today in real estate, you just have to look at the property as a long term investment instead of the quick buck.
You can see that there can be possible personal benefits for both owners and renters by taking advantage of all that’s happening with foreclosures.
Homes that look nice upon first inspection can really turn out to be victims of the former homeowners or vandals removing fixtures and/or completely stripping the house.
A buyer today, has an opportunity to get a good loan package because the rates are low and lenders are dying to make loans so that they can stay in business.
Some owners vandalize properties, figuring that they are already in foreclosure, they might as well take anything valuable, which could include everything from door knobs to light fixtures to wiring.
The foreclosure property may also have a history of legal problems, such as liens, difficult-to-evict tenants or, in some states, a “redemption period,” a mandatory period that gives the former owner time to get the home back.
When purchasing a house that has a lien against it, the buyer may be responsible to pay back that debt.
Owners who are faced with the dreadful possibility of foreclosure are usually happy to work with you, if it means they can save their credit from ruination.