| Foreclosures are up in late summer of 2007 and | | | | than normal real estate. These properties are easily |
| probably will continue well into 2008. | | | | turned around as resales or rentals. |
| Why? Borrowers simply bit off more than they could | | | | Great for Fixer Uppers - Many of these homes need |
| chew and overextended themselves. | | | | only quick and minor repairs. Significant profits can be |
| Low interest ARMs and interest only home loans | | | | made after a small amount of sweat equity is |
| allowed buyers way more house than they could | | | | invested. Many times things like drywall patching, |
| handle - as they found out or will find out when their | | | | re-painting, minor landscaping etc.. Consider sweat |
| initial loan term comes due and the rate adjusts up - | | | | equity against your profit margin - you may be |
| expect a flood of foreclosures. | | | | surprised. |
| That's what happens when you gotta "keep up" and | | | | No Move in Delays - many times the foreclosed |
| pretend you can afford something you can't. | | | | homes are vacant - making resale or renting revenue |
| Why Buy Foreclosures? | | | | possible soon after closing. |
| Average people who are learning the foreclosure | | | | Lower Closing Costs / Flex Financing Because banks |
| market are making huge profits. | | | | don't like to hold onto assets like homes, you may get |
| This is no time to ponder ethics - most borrowers | | | | great terms regarding lower down payment |
| should have seen this coming but were blind to the | | | | requirements, closing costs and all other miscellaneous |
| financial, rational truth. Foreclosures represent a | | | | costs associated with the home purchase. The seller |
| business opportunity for savvy buyers to seize | | | | who holds a foreclosed property typically has a strong |
| property at amazingly low prices and then convert. | | | | motivation to sell the property. Anticipate flexible |
| Some more reasons to consider learning the | | | | financing terms as sellers are usually in a hurry to get |
| foreclosure business... | | | | rid of foreclosure properties. |
| Not Difficult to Learn - There are many good sources | | | | These are a few reasons that may excite you about |
| to learn the art of buying and selling foreclosures - see | | | | learning the foreclosure business. If you are into |
| website at bottom of the page. | | | | learning a business process that requires learning some |
| Prices are Low / Profitability High - many of the | | | | basic real estate skills along with the benefit of |
| foreclosures sell way below their true market value | | | | unlimited earning potential look into the foreclosure |
| 20% to 50%. Foreclosures are always priced lower | | | | business. |