St. Augustine, Florida (PressExposure) April 26, 2008 -- Fundamentally the sure way to find a great real estate deal is to identify a motivated seller in the right market. No doubt a pre-foreclosure purchase can be a great way to save money on buying a home or investing in real estate.
There are numerous seminars and how-to books that promise to turn even the most raw naÃ¯ve buyer into a high-powered real-estate investor through the abundance of pre-foreclosed homes. âThe problem is that instant, no risk, no-strings attached wealth often turns out to be like most things that sound too good to be trueâ¦not true! If it were easy money, everyone would be getting rich with pre-foreclosures. Word to the wise, if one is not armed with the latest pre-foreclosure information and techniques, it is quite possible the investor will become overwhelmed and possibly drown in a sea of financial losses,â Kaller explains.
With more than 1.2 million foreclosure, pre-foreclosure, bankruptcy, FSBO and tax lien listings, itâs important to have good training in the analysis and search of large and complex databases of foreclosed homes and investment property information. Being able to identify opportunities while researching top lending institutions and government agencies Real Estate Owned; Department of Housing and Urban Development, Department of Veterans Affairs, Fannie Mae, and other government agency and financial institution properties is essential.
A well trained investor knows the pros and cons of private deal "buying equity" where investors pay the owner a fee and then take over the existing debt and the home. This protects the homeowner's credit report from the black mark of foreclosure. Kaller explains that buying equity this way is difficult in a seller's market because the owner could just as easily sell the home and usually pocket a greater amount in appreciation than an investor would be willing to pay.
Buying during the foreclosure period is one of the best ways for anyone to get involved in real estate investing. With a small investment and some specialized knowledge an investor can buy a house at a substantial discount and resell it retail gain up to 15% - 20% profit in the process.
Jeff Kaller does short sale boot camps and one-day workshops, all over the country. For a free sample of Jeffâs teachings, go to http://www.shortsalestrategy.com/ and sign up for a free session.
This Press Release has been submitted by PREasy.com