The Foreclosure Secret
The time has come for me to share with you a previously undisclosed Foreclosure Secret. Those that possess The Secret can not only save tons of money but they will be empowered to take action and start making money today. To date, I have not shared The Secret with anyone else, for fear that its power to disturb the balance in the foreclosure real estate market. I learned The Secret after years of experience dealing in the distressed property niche and once it came to me I keep seeing evidence of its power everywhere. I suggest you get pen and paper ready, because what you are about to learn will change your search forever.
The Foreclosure Secret is…
There is no secret.
No secret stash of properties no one knows about. No secret list of unearthed deals that could be yours for $39.99/mo. No surefire proven (by whom?) system of tapes and books. No $500 value that’s yours free if you just pay shipping and handling. No foreclosure strategy “they don’t want you to know about”.
Just plain old economics
The numbers are the numbers, folks. And they either work or they don’t. If you buy something for a dollar and sell it for two, you’ll make about seventy eight cents after closing costs. If you rent it for more than you pay out you’ll have positive cashflow and if you don’t you’ll have negative cashflow. (Note: You should NEVER have negative cashflow.) Learn the basics or let us hold your hand with them but don’t pay money for publicly available information.
What about the deals?
All major banks liquidate their REO (real estate owned) inventory through real estate brokers that post these properties on the MLS (or HAR). Every single bank owned property can be found there, no exceptions. As far as auction property, it would be in your best interest not to mess with it.
So what should you do?
First, treat yourself to a good dinner … you know, with the money you just saved from not paying those ridiculous membership fees. Then, start your search for Houston Foreclosures and pay a cool “zilch”. While there, you can sign up for email updates (bottom left corner) and receive foreclosures daily in your inbox. Last, start the conversation and ask as many questions as you’d like at 713.952.3200.
Photo Credit: Devilicious Symphonic
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4 Responses to “The Foreclosure Secret”
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Wow, you just made a bunch of guys in alligator shoes walking back and forth on ballroom stages in the Evergreen rooms at Ramadas and Hilton Inn’s all over the country really nervous. The unmitigated gall to give away the key to their livelyhoods! Shame Erion, Shame!
Love it! Would you take a huge loss on a property, fight (and spend more) to take it back, only to sell it at yet another loss? Banks don’t either. Just like you, they want market value- or as close as they can get to it. They do that just like you would- list it and get it on the MLS.
Mike
Alligator wearing gurus are not big fans of myself anyway so I figured WTH…
Brian
By posting it on the MLS, banks at least get the perception that they’re exposing their asset to the largest audience possible. Good REO brokers know how to get asset managers to price “appropriately”; typically it’s the newbies that get to list for retail.
The truth shall set you free…so true Erion. The numbers don’t lie…basic economics (common sense) tell you buy low & sell high.I do not know much about stocks & bonds but it’s all the same buy right and sell…and then let it rain $$$.