House Flipping School

≡ Menu

foreclosure

How To Purchase Real Estate | 10 Types Of Motivated Sellers | Part 1

If you want to learn How To Purchase Real Estate, make sure you know the 10 most common types of motivated sellers.

How To Purchase Real Estate The 10 Types Of Motivated Sellers Part 1While buying a property can happen quick, it is also perhaps the most important part of the house flipping process. If you wish to make a profit at the end of your project, you need to buy the right house.

What most real estate investing experts will tell you is to find a motivated seller. Easy enough, right?

But what is a motivated seller?

In essence, a motivated seller is a person who wants to sell his or her home as quickly as possible, and is less concerned on getting the full value of the property. For this reason, you as a buyer might be able to get a great deal on a property through these people.

[click to continue…]

How To Buy Foreclosures | Red Flags To Look Out For | Part 2

If you want to learn How To Buy Foreclosures, make sure you know the red flags that could sink your project!

How To Buy Foreclosures Red Flags To Look Out For Part 2As you already know, buying foreclosures is a great way to get a house for well under market value. Additionally, since the economic crash of 2008, purchasing foreclosures has never been more popular in the real estate community.

However, not every foreclosed home is a worthwhile buy. Some properties will cost so much in rehab that you will end up losing money on the venture. Even if you break even, you will have essentially spent a great deal of time and energy fixing up a house for someone else for free.

To find out if a particular foreclosure is a bad buy, make sure you know the red flags that will sink your project.

[click to continue…]

Foreclosure Investing | The Red Flags To Look Out For | Part 1

Make sure you keep an eye out for these red flags when foreclosure investing.

Foreclosure Investing The Red Flags To Look Out For Part 1Purchasing foreclosed properties is often great for house flippers. You can buy the house for well under market value, and in turn, get a great deal. Generally speaking, there are three types of foreclosures: Short sales, foreclosures bought from an auction, and REOs.

While these properties are generally much cheaper than houses bought in a traditional way, they also come with a great deal of risk. When foreclosure investing, make sure you learn the risks so you can reap the rewards.

The Red Flags of Foreclosure Investing: #1-5

If you are buying a property from an auction, you’ll almost never be able to see the interior of the house. This means that there is no real way to assess any problems.

However, if you are thinking about purchasing a short sale or an REO property, you will be allowed to look inside and get the home inspected. For these latter two cases, make sure you avoid purchasing a property with any of the following problems.

[click to continue…]

Buying Probate Properties | Cash Your Check When They Check Out

If you want to get a great deal on a house, try Buying Probate Properties.

Buying Probate Properties Cash Your Check When They Check OutAs a house flipper, when you are searching for good properties to purchase, you want to get the best deal for your money. Sometimes, there are ways you can buy these houses well below market value through unconventional means.

For example, if a homeowner is facing foreclosure, you might be able to buy the house through a short sale. If the home has already been foreclosed, you can purchase it in a foreclosure auction. Or, if it doesn’t receive any bids, you can buy it as an REO property. Additionally, you might be able to find a deal if the previous homeowners are going through a divorce.

In all of these cases, the person or organization in possession of the property, whether it is the homeowner or bank, is eager to get it off their hands as quickly as possible before they lose any more money.

However, there is one way you can find and buy a property well below market value that most real estate investors don’t know about: buying probate properties.

[click to continue…]

Buying REO Properties | 3 Tricks Of The Trade

Buying REO Properties can be a great outlet for house flippers.

Buying REO Properties 3 Tips Of The TradeIn the business of house flipping, often times expert investors will seek out and purchase many different types of properties. While buying homes straight from the previous homeowner can be great, if that is your only means of finding a property, you might be limiting yourself.

To really thrive in this business, you want to consider diversifying the types of properties you buy. Some popular means of buying short sales, and buying foreclosed properties. However, what many people often overlook is something called an REO property.

REOs are essentially the third piece in the foreclosure family. The first, buying a short sale, is to buy a property from the homeowner before is foreclosed. The second option is to buy a property after it has been foreclosed, usually from a foreclosure auction. The last option is buying REO properties. An REO, or “real estate owned” property, is a home that fails to sell in a foreclosure auction.

[click to continue…]

s2Member®