Foreclosed Homes and
Other Property Sources

Without a doubt foreclosed homes are the largest source of investment property opportunities. It is unfortunate that so many people lose their homes. However, real estate foreclosure is an integral part of the lending system, and banks would foreclose on property, whether investors existed or not.

Even with vigorous foreclosure investing, an enormous amount of distressed property remain on the market at all times. Imagine the additional glut of vacant and unused properties, if investors did not buy portions of this inventory

This section will discuss foreclosed homes and other sources of property. Not all good buying opportunities involve distressed properties. Sometimes owners will discount their property because they simply want a quick sale.

The primary sources of property are as follows:

Real Estate Agents, Brokers and Realtors. This is an enormous source for properties. These professionals can pull up details on thousands of properties as well as other helpful real estate investing information. Developing a good relationship with them is very beneficial to your investment property business. Click here for more details.

For Sale By The Owner. Many property owners go it alone and decide to sell their properties with no outside help. Click here for more details on this source for potentially great deals.

Bank Foreclosures. A substantial percentage of distressed property come from this source. There are several ways for those interested in foreclosure investing, to access their inventory. Click here for more details.

Government Foreclosures. Another substantial source. For those pursuing real estate foreclosures, Government and Bank Foreclosures represent the overwhelming majority of foreclosure inventory. The three main categories of government foreclosures are HUD, VA and FHA Foreclosures. Click here for more details.

Wholesalers. Accessing foreclosed homes through wholesalers is the easiest and least time consuming way, to pursue foreclosure investing. Click here to learn why.

Pre Foreclosure. Property owners in pre foreclosure is my final significant source of property. Though these homes have not yet been foreclosed, they are very close and warrant inclusion in this topic. Click here for details on this source of distressed properties.

Foreclosed homes will always present the greater majority of bargains to real estate investors. Developing relationships with those who will give the greatest access to real estate foreclosures will be of tremendous benefit to those pursuing foreclosure investing.

These sources of distressed property are professionals who take their services very serious. Understand that their time has value and do not engage them until you are prepared to expedite your investment goals.

Asking a real estate agent if they have properties is like asking a bank if they have money...of course they do. Whether you engage a Realtor, banker, or wholesaler, be specific on the type of property you are seeking along with your investing goals. These professionals can provide what you need with surprising accuracy. They simply need to know what it is you seek.

One final note: There are many auctions for distressed properties. Do your research and absolutely know the value and condition of the properties you intend to bid on. Many novices and uneducated people will grossly overbid properties. Do not get caught up in such foolishness. Know your preset maximum bid and stick to it no matter what...NO MATTER WHAT! If someone over pays, let that be their problem.

That is all I have on Foreclosed Homes and Other Property Sources.


From Pt 3 - Foreclosed Homes and Other Property Sources on to the next series: Pt 4 - Fixer Uppers.