Comments on: Foreclosure Investing Information http://www.michigandreamhomeproperty.com/foreclosure-investing-information.html Tue, 04 May 2010 16:26:25 +0000 hourly 1 http://wordpress.org/?v=3.1 By: mission_viejo_california http://www.michigandreamhomeproperty.com/foreclosure-investing-information.html/comment-page-1#comment-425 mission_viejo_california Thu, 21 Jan 2010 04:59:56 +0000 http://bankratescompared.com/?p=960#comment-425 No. we would be bailing out the lenders, not those who have lost their homes. No. we would be bailing out the lenders, not those who have lost their homes.

]]> By: SonnyAngel http://www.michigandreamhomeproperty.com/foreclosure-investing-information.html/comment-page-1#comment-422 SonnyAngel Wed, 20 Jan 2010 14:07:08 +0000 http://bankratescompared.com/?p=960#comment-422 how about look at your county records for "notice of foreclosure" or "notice of trustee sale" then go see if its on the current mls you dont want that one you want the ones that are actually going ot go thru foreclosure and the owners want out. u have to go to county records to see if the home is worth your time. if they have a mortgage of 100% of the ass'd value then it's not worth it. how about look at your county records for "notice of foreclosure" or "notice of trustee sale"
then go see if its on the current mls
you dont want that one
you want the ones that are actually going ot go thru foreclosure and the owners want out.
u have to go to county records to see if the home is worth your time. if they have a mortgage of 100% of the ass'd value then it's not worth it.

]]> By: Anonymous http://www.michigandreamhomeproperty.com/foreclosure-investing-information.html/comment-page-1#comment-420 Anonymous Wed, 20 Jan 2010 11:48:49 +0000 http://bankratescompared.com/?p=960#comment-420 You can contact a few local mortgage companies and get set up on their foreclosure notification lists. Another option is to visit the court house, there will be posting for foreclosure auctions that will be taking place in the future. Also just a tip... if you happen to looking at Reality website and it says, "quick sale" that means foreclosure! These foreclosures can be financed; therefore, you would not have to have the cash in hand, as you would at an auction. You can contact a few local mortgage companies and get set up on their foreclosure notification lists. Another option is to visit the court house, there will be posting for foreclosure auctions that will be taking place in the future. Also just a tip… if you happen to looking at Reality website and it says, "quick sale" that means foreclosure! These foreclosures can be financed; therefore, you would not have to have the cash in hand, as you would at an auction.

]]> By: C & N http://www.michigandreamhomeproperty.com/foreclosure-investing-information.html/comment-page-1#comment-421 C & N Tue, 19 Jan 2010 17:47:26 +0000 http://bankratescompared.com/?p=960#comment-421 Banks do not sell their foreclosures (REO) directly. They are listed with Realtors. You need to enlist the aid of a Realtor that represents buyers. It won't cost you anything because the seller pays the commission through the listing agent. A buyer's agent has your best interest in mind, where a listing agent's job is to get the best price for the seller. realtor.sailor Banks do not sell their foreclosures (REO) directly. They are listed with Realtors. You need to enlist the aid of a Realtor that represents buyers. It won't cost you anything because the seller pays the commission through the listing agent. A buyer's agent has your best interest in mind, where a listing agent's job is to get the best price for the seller.

realtor.sailor

]]> By: Neil S http://www.michigandreamhomeproperty.com/foreclosure-investing-information.html/comment-page-1#comment-424 Neil S Tue, 19 Jan 2010 05:55:54 +0000 http://bankratescompared.com/?p=960#comment-424 As far as the investment goes, as long as the rents will cover all your costs now and for the foreseeable future, then that would be your answer to whether it is a secure investment or not. You could use realtor.com and see if the listings say if the properties are Bank or Investor Owned (REO) properties and I would think if you did a search on google you quite possibly could find something there too. Another thing about the investing part. Where you live can have a huge impact as to the secure investment part too, as you didn't say where you were from! Larry As far as the investment goes, as long as the rents will cover all your costs now and for the foreseeable future, then that would be your answer to whether it is a secure investment or not.

You could use realtor.com and see if the listings say if the properties are Bank or Investor Owned (REO) properties and I would think if you did a search on google you quite possibly could find something there too.

Another thing about the investing part. Where you live can have a huge impact as to the secure investment part too, as you didn't say where you were from!

Larry

]]> By: christian80.geo http://www.michigandreamhomeproperty.com/foreclosure-investing-information.html/comment-page-1#comment-419 christian80.geo Mon, 18 Jan 2010 23:20:35 +0000 http://bankratescompared.com/?p=960#comment-419 I think you should go for a less expensive property for your first flip. There is huge income potential in this house, but your question leads me to believe you don't know what you're doing. Start off with a cheaper property, there is less profit but also less risk. I'm estimating a payment of 3-4,000 a month, it won't take long for most of your profits to erode. I think you should go for a less expensive property for your first flip. There is huge income potential in this house, but your question leads me to believe you don't know what you're doing. Start off with a cheaper property, there is less profit but also less risk. I'm estimating a payment of 3-4,000 a month, it won't take long for most of your profits to erode.

]]> By: Fairley http://www.michigandreamhomeproperty.com/foreclosure-investing-information.html/comment-page-1#comment-423 Fairley Mon, 18 Jan 2010 17:00:01 +0000 http://bankratescompared.com/?p=960#comment-423 You need to have 12 months of working capital to do it...the housing market has taken a huge hit...so a lot of "flippers" are losing quite a bit of money... You also need to consider the fact you will be competing with developers trying to get rid of all their new developments... that is why you need to have a good bit of money in your pocket to get started and be successful...If you dont have the money, you might consider being a partner with someone who has the money but doesn't have the physical skills to flip a house. You could contribute the work and they could handle the financial backing... Also with foreclosures...often times the previous owner will have 12 months to reclaim their property..this is called right of redemption..If you were to fix up a house and they reclaimed it..you would lose your money you out into the house... You need to have 12 months of working capital to do it…the housing market has taken a huge hit…so a lot of "flippers" are losing quite a bit of money… You also need to consider the fact you will be competing with developers trying to get rid of all their new developments… that is why you need to have a good bit of money in your pocket to get started and be successful…If you dont have the money, you might consider being a partner with someone who has the money but doesn't have the physical skills to flip a house. You could contribute the work and they could handle the financial backing… Also with foreclosures…often times the previous owner will have 12 months to reclaim their property..this is called right of redemption..If you were to fix up a house and they reclaimed it..you would lose your money you out into the house…

]]> By: Christo http://www.michigandreamhomeproperty.com/foreclosure-investing-information.html/comment-page-1#comment-417 Christo Mon, 18 Jan 2010 11:29:20 +0000 http://bankratescompared.com/?p=960#comment-417 Your city should have an investors club. If you don't know of one contact the Chamber of Commerce and some local realtors. Also contact some mortgage loan officers or brokers. They should be able to point you in the right direction. Those books with "__for Dummies" are good. They have one for just about every subject. Go to your bookstore and look through a stack of books about the kind of investing you are interested in. Your city should have an investors club. If you don't know of one contact the Chamber of Commerce and some local realtors. Also contact some mortgage loan officers or brokers. They should be able to point you in the right direction. Those books with "__for Dummies" are good.
They have one for just about every subject. Go to your bookstore and look through a stack of books about the kind of investing you are interested in.

]]> By: d0odx http://www.michigandreamhomeproperty.com/foreclosure-investing-information.html/comment-page-1#comment-418 d0odx Mon, 18 Jan 2010 10:29:59 +0000 http://bankratescompared.com/?p=960#comment-418 if you have this kind of money i would contact the mortage company direcly and let them furnish the leads!!! if you have this kind of money i would contact the mortage company direcly and let them furnish the leads!!!

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