Investors are snapping up the growing number of foreclosed home on the market. With more options to choose from, those who flip and grow rich for a living are finding a gold mine of opportunities.
With over 200,000 foreclosures projected for the month of March, the real estate market continues its downward spiral into an abyss for home owners and sellers. Banks are not in the real estate business, and this is a key advantage in this market. Even homeowners who can't pay their mortgage are buying their homes from the bank at a discount.
How can you flip and grow rich from a foreclosure?
Flipping foreclosures can be easy when buyers often see a 30-50% discount on the price of the home. However, sometimes a little fixing up is in order.
For example, many foreclosed homes suffer from incomplete remodels, many have torn apart kitchens, gutted bathrooms, and in some cases are unlivable. For those not afraid to buy, fix, and flip. These homes, can be gems!
Don't expect to make money overnight. Many of these flips need to ferment for awhile before they can be sold. Depending on the market you may not imeediately find a buyer. But if you have the cash, you can snap up real estate at some of the deepest discounts in a long time.
With over 200,000 foreclosures projected for the month of March, the real estate market continues its downward spiral into an abyss for home owners and sellers. Banks are not in the real estate business, and this is a key advantage in this market. Even homeowners who can't pay their mortgage are buying their homes from the bank at a discount.
How can you flip and grow rich from a foreclosure?
Flipping foreclosures can be easy when buyers often see a 30-50% discount on the price of the home. However, sometimes a little fixing up is in order.
For example, many foreclosed homes suffer from incomplete remodels, many have torn apart kitchens, gutted bathrooms, and in some cases are unlivable. For those not afraid to buy, fix, and flip. These homes, can be gems!
Don't expect to make money overnight. Many of these flips need to ferment for awhile before they can be sold. Depending on the market you may not imeediately find a buyer. But if you have the cash, you can snap up real estate at some of the deepest discounts in a long time.