Working a nine to five job swapping time for money can be incredibly dispiriting. After the futility of it all hits home, its all you can do to limit the number of home business opportunities you investigate to twenty per week.
One of the more compelling home business opportunities is real estate investing. Real estate investing is the perennial wealth builder, and the transition from working a job to achieving wealth or https://npfinancials.com.au/through real estate investing is becoming increasingly well documented.
Youve probably thought about investing in real state yourself but youve not gone for it because you thought you needed tens of thousands in savings for a down payment, and perfect credit along with strong banking relationships.
Well, you can get all that together if you want. It doesnt hurt to have those resources. But its not necessary to have a huge pile of cash and perfect credit to buy a house cheap and resell it for a profit.
Its especially not necessary in the preforeclosure market. Preforeclosures are houses in the default phase of foreclosure; where the bank has filed initial foreclosure papers but the Sheriff Sale or Trustee Sale where the bank auctions off the property, or repossesses it if no-one buys at the auction, hasnt occurred yet.
Buying during the preforeclosure period is one of the best ways for anyone to get involved in real estate investing. With little more than a few hundred dollars and some specialized knowledge you can buy a house at a substantial discount and resell it retail picking up a five figure profit check in the process.
Dont believe it?
Well, let me give you seven reasons why its true:
1) When people are in default on their mortgage they have stopped making payments to the bank. So when you are negotiating with the seller, and the bank, right up until the point where you buy, no-one is making the payments. For novice investors worried about holding costs this is a huge advantage.