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Buying Foreclosure's Its a No Win Deal

Written by: Michael Mosby

Article Overview: Recently I as a builder for over 35 years have noticed less people buying foreclosure's. First its the Economic problems within the country at this time but second and this has been my point all along NO One is really giving deals on these properties in areas where they might actually make some money. I am going to discuss some of the reasons people buy or chose not to buy Investment Property after all this is my business and Please visit our website located in bio area.

Buying Foreclosure's Its a No Win Deal

I developed investment property Builder's for some very big reasons First I wanted to diversify myself into a market that would give me some more Free time yet let me put together Investment packages that would;d generate some real good returns at a reasonable price. I also knowing the problems with the housing market wanted to be able to insure my clients that the properties they would own where not just cosmetically cleaned up and sold they would be of well built materials and labor for a lasting return on their investment without having to reinvest allot of cash in a short period of time and these properties would be very easy to maintain.
Now for the past year depending on property price I can build new for less than most foreclosures are appraised at due to the over inflated market they where sold in and the mortgaged price needed to settle financial obligations reflects that. So why would you buy something that was not discounted enough to even make any financial sense? Well when we as most our nature is think we are getting a deal we usually cant be steered away from it. Again buying things in this country on HYPE like the dot com stocks that are still worth nothing. I have a friend who just bought a home on a land contract at face value even though he new the owners where about to lose it Why well he said the bank and Real Estate people explained he was getting a discounted price that the people owed $20,000 more than the sale price but arrangements had been made.So this guy signed has been living there for 6 months and he asked me what I would charge to build him same thing when I gave him a price that was $50,000 less than what he paid he almost fell over, then I asked him what his assesed value was he said he never knew because tax was included in price well we got that number $40,000 less than sale price now hes stuck with it and having more problems because things are breaking and there is no money to fix and he cant borrow it. Well same old thing got a deal!!!
So before you run out and start buying these things Think ask questions you never asked before like was there a mold inspection was the property taken care of when in the foreclosure procedure. What is the assessed value and can you get it lowered if you cant thats not a deal either remember over inflated times. If you really want to get involved in something like this I would get into a group effort with 2-3-even up to 10 investors my website program is putting some things like this together now its much safer. You are not alone for every person involved its is more thinking about how a property should be bought and how it will be handled after that. So get involved first chat groups or a investment group your chances for coming out with some cash return will be much brighter. Again visit us Investment Property Builders trying to make something from what has turned into a national disaster. Thanks for the time

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Article Tags: face value, financial obligations, financial sense, foreclosures, free time, housing market, hype, investment packages, investment property, land contract, money, period of time, real estate, short period, stocks



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