Wednesday, March 18, 2009

Why you want to buy foreclosures

by Nan Woodward

Now is the time to buy foreclosures. The price is right. You make your money when you buy, you get paid when you sell real estate investment property.

You should investigate exit strategies you can use before you buy. Good uses for real estate foreclosures and bank reo properties is -

1. Rent them

2. Lease Option them

3. Do subject to deals

4. Wholesale them to other investors

5. Sell them on the Real Estate Market after rehab

Since the property is owned by an investor, it is less complicated to do a deal. Foreclosures take time to work your short sale with the lending company. It depends what type of process you must follow - judicial or non-judicial.

We'll discuss the types of processes in a future Investment post.

Have a good Real Estate Investing day!!

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