Interest in Buying Foreclosures
Buying foreclosures is one way people have found to get rich quick in a bad economy. This is one of the few well known ways to get out of the wage slave mindset and become an entrepreneur. The richest people see jobs as being only a means to an end so they can go onto running their own business or to a profitable hobby like investing in real estate. Many people have become very rich in just two years by brokering houses in foreclosures to people who want to fix them up and flip them.
Buying foreclosures can also be as simple as putting an ad in the paper. You can spend hours and hours searching on the internet or through newspapers looking for cheap properties to sell or you can benefit from the shortcuts and recommendations suggested online that help you find properties for cheap. You will learn how to put ads in the paper that state, “I buy houses for cash” and find people who are willing to sell for pennies on the dollar.
Once you find someone to do the deal with you, simply assign the sales contract to him or her and this person will close on the transaction in your place. You’ll get paid an assignment fee for putting the deal together. The closing will take place at a title company or an attorney’s office. The rehabber can arrange the entire closing. All you have to do is show up and collect your check.
Making money in real estate is not rocket science. However it is also not as simple as just “fixing and flipping it.” Sometimes you don’t even have to fix it before you resell it. The key to making money buying foreclosures is to be able to sell it again and not being stuck with a dud that in the end costs you more than you paid for it.
