THE FASTEST WAY
TO GET RICH IN REAL ESTATE
One of the fastest ways to get rich and make big cash profits in real
estate is to buy properties that are way below their market values. This bargain
properties become so because they are "distressed properties." In this book, we
will focus on the most popular type of distressed property -- Foreclosure properties.
Properties under Foreclosure account for the largest number of all distressed properties,
offering the greatest opportunity for cash and equity profit.
For most beginning investors, the term "distressed
property" or "Foreclosure" immediately brings to mind images of single
family homes with bad roofing, decaying walls, broken windows, and bad odor, just to name
a few. True, many distressed properties are badly run down and in need of repair. Its
logical that homeowners who cannot afford to make mortgage payments, for example, simply
cannot afford to maintain their properties.
However, while some real estate found to be under foreclosure may fit
this profile, there are some that become "distressed" due to divorce, lawsuits,
etc. These types of distressed seizure properties include FHA, VA and HUD foreclosure
sales, tax sales, bankruptcy sales, drug seizure properties, auctions, property rescinded
by corporations, civil judgment sales, I.R.S. sales, probate sales, and estate sales.
Because distressed properties are usually sold way below their fair
market value, they presents significant profit opportunities for investors like you. |
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