Foreclosure occurs when someone with a mortgage does not pay, therefore violating the agreement and the lender takes control of the home.
Buying foreclosed homes allow you to purchase discount real estate 30%, 40% even 50% under market value. Foreclosure investing is actually quite simple, given the right mentor and system to follow. In fact, anyone can do this regardless of their previous experience, knowledge or location. You don’t even need a degree or money saved up to be successful in this business. All you need is desire, persistence, and a great attitude combined with these foreclosure strategies and you could be living your dreams.
So what is the basic idea about how to start making money from foreclosure? Here is one example. Simply find peoples houses that are going into foreclosure and make a deal to buy the property from them so they can pay off their loan. If you don't have the money yourself, there are two things to do. One is find an investor and ask them to give you a commission, two is to get a small loan from someone, just enough to pay for the down payment. so let's say you are getting a great deal on a home for $40,000, get a small loan for 10% of $4000 and take control of the property. During the time of closing, put ads out and find a new buyer. Make profit!
Really, anyone can find and sell foreclosures for money, you just need the right mentor and system to follow, and you will learn for yourself that buying foreclosures and making money off flipping them truly is possible!
Eric has been helping people learn how to find and buy foreclosures using this guide. How To Buy Foreclosure Guide.