Thursday, May 19, 2005

Buying a Home Foreclosures for Instant Profit!

Buying a Home Foreclosures for Instant Profit!: "Can you really make quick profits in buying a home foreclosures? The answer is big Yes! But you have to buy it right whether it's home foreclosures or not.
To make money in buying a home foreclosures involves only four(4) simple steps.
1. First, You have to Find it - Believe it or not there are over one million home foreclosures listed annually. Will these foreclosed homes ever run out, not really. The reality is there will always be home foreclosures as long as there are financial difficulties due to job layoffs or unemployment, divorce, death or health problems in the family.
But where can you find these foreclosures to experience the quick wealth in buying a home foreclosures? Believe it or not most of these home foreclosures are just right in front of you. You have probably driven along the streets where they are located. Or they could have just been listed in your hometown paper.
Your possible sources in buying a home foreclosures could be;
Properties owned by various government agencies such as HUD, VA, IRA and other government agencies
Trustees sale by your county courthouse.
Bank owned properties or Real Estate Owned Properties (REO's). These REO homes foreclosures are also normally listed through realtor.
2. Second, You have to Fund it - You got to have the money to buy it. Now it doesn't mean that money have to come from you. One big advocate of No Down Payment program is Carlton Sheet who's been in the infomercials for decades. There's a saying 'If you don't have the money, somebody gotta have it'. And who are those 'Somebody'? That could be;
Banks
Mortgage companies
Investors
Hard money lenders
Government institutions
Your wealthy acquiantances/friends
Credit card institutions
Any other person or entities who have...

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Buying a Home Foreclosures

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