The term “short sale” isn’t actually a niche in the same way as others are. It’s actually a strategy for purchasing properties with no equity in pre-foreclosure. I’m listing it as a separate niche because though you will fall into situations where a short sale is necessary when dealing with pre-foreclosures, and should know how to handle a short sale when … Read the rest
This article is part 3 of a series where I am teaching you Real Estate Investing 101 – Choosing and understanding the best Real Estate Investing Niche. What makes it the best? Well, that will depend on a few things. You will want to look at the current market conditions in the area you would like to invest and match that to your resources, experience & personal lifestyle preference.
Be sure and sign up here to receive this free monthly newsletter sharing the most current market conditions nationwide called the 1 Minute Housing Report.
Today I will jump into specifics … Read the rest
Option 3. EQUITY SHARING
Definition: Joint ownership of a property by one or more owner-investors and one or more owner-occupants. The owner-investors get the benefit of depreciation, and the owner-occupants can treat a part of their monthly mortgage payments as rent, and benefit from tax write-offs for interest and property taxes. When the property is sold, both types of owners share in the profit or loss realized from the sale or refinance.
This might be for you if there is some equity in the house and you would like to continue to hold it. It is vital you involve … Read the rest
Option 7. LOAN FOREBEARANCE
Definition of Forbearance: The act of a creditor who refrains from enforcing a debt when it falls due.
Loan forbearance is a new agreement with your lender to repay your past due payments when you are behind on mortgage payments. This will stop foreclosure sale of your home quickly.
Forbearance is easier to arrange prior to the Mortgage Company filing a foreclosure lawsuit. Some lenders will not consider this after filing, but it’s worth trying.
This is the most common way of resolving a loan default. You and the lender agree to work out a … Read the rest
“Doing business without advertising is like winking
at a girl in the dark. You know what you are doing, but nobody else does.”
~Steuart Henderson Britt
Classified ads are a good cost /effective way to reach property sellers in Pre-foreclosure, and pre-default. Secondary niches who you will find contact you from your ads are Absentee Owners, Probate and bankruptcy. Classified ads are also good for selling any type of property.
Keys to Success:
- Ensure that your headlines command attention and virtually DEMAND that your prospects take action.
- You have to be UNIQUE. What do you have or do