Foreclosure FORTUNES – and a Multi-Billion Dollar Resource for Locating These Properties Listed Below Market
There's gold in them thar hills! And a FORTUNE to be made
in Foreclosures!!
Problem is, many other investors know this. But you being the
Savvy person you are and getting these emails, who is investing
All across the US and even Canada from the comfort of their
Own home, are going to find an online resource here that will
Locate BILLIONS of dollars of bank-owned properties being
Sold at 30%, 50%, even 70% of their value.
We've said it before…foreclosures in North America are at one of
the highest we've ever seen – or even at the highest point ever
reached – in a fifty year period.
One Realtor in Fort Collins, Colorado over a three month period
of the fall in 2004 sold 553 foreclosed properties!!
FIVE HUNDRED & FIFTY-THREE PROPERTIES in a 3 Months!
It's sad but true…foreclosures are on the rise.
People lose their property because of a number of situations
(ie. Divorce, job loss, death in the family of the primary breadwinner),
but it ultimately boils down to the fact that mortgage payments have
not been made and the bank repossesses the property to sell it
(sometimes at a discount) to cover their losses.
In the US, banks send the property first to Auction and those
properties that don't sell at auction get listed with a real estate
broker.
In Canada, banks list their foreclosed properties with Realtors.
Foreclosures can be a real bargain but you have to be persistent
and firstly know where to look, and secondly, know how to acquire
them.
Before you bid on them at auction, you need to have completed
your diligence on the property and be sure you're not about to buy
a house that's infested with termites. Secondly, at the auction you
have 24 hours or less to produce a cheque for the entire purchase
price of the property.
We want you to remember something important. Whatever the
List Price is for a property, it's just the ASKING price.
You're an investor! Should a property's asking price be $200K,
then you can research online and find out the recent owner's
purchase price, and even also determine the mortgage balance
still due to the bank when it was foreclosed…there's an excellent
chance that it's less than the $200K asking price.
So if there's a property listed by a Century 21 agent that says “REO”,
that's an abbreviation for Real Estate Owned, which means it's a
‘Bank-Owned Property'..that's a foreclosure!
That property MAY be listed for current market value, but keep a
few things in mind here:
1) The bank has a property on their books which is a
non-performing asset
2) The bank is paying taxes on the property
3) The bank is paying for upkeep/maintenance of
the property
4) The bank has lost a loan (almost guaranteed income),
and facing a cash crunch
So now you know that they're probably a serious ‘don't wanter'…
because if the branch manager doesn't get these non-performing
assets off their books, then they're not in a very good position to
advance up the career ladder at the bank.
Now you can submit multiple offers way below market to see if the
bank will budge. It's wonderful!
OK – we've kept you this long, so here's an online resource for you
to find BILLIONS of Dollars of properties for sale at 20, 50, even
70% below market across the US:
In the News
FREE 7-DAY TRIAL
Start flipping houses throughout North America online now by donating $1 to St. Jude's Children's Research Hospital!
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www.fanniemae.com
That's it. Now go there and use their online tool to search for properties in any US city that are bank-owned properties currently being offered for sale. They even provide you with the Realtor's phone number to call them….
There you have it, now be sure to use your contract addendums to protect yourself and Voila!