Real Estate Investing Facts

Here are the four basic steps to the property foreclosure process which can and will help prospective investors to purchase properties at the best possible price.

1. Pre-foreclosure- This is the stage which a property owner starts missing payments and the stress of falling behind starts to mount. Keep in mind that this stage is before any legal action has begone. A property owner may be more likely at this time to consider any offer if it means they have a chance to save their credit and avoid foreclosure. This is the best time to make a deal with the home owner and make this a win-win situation.

2. Notice of Default- A formal notice to a borrower declaring that a default has occurred and that legal action may be taken.

3. The foreclosure sale- Whether it is a judicial or non-judicial process depends on each individual state as each state can have different laws. The foreclosure sale process itself can take up to a year to complete. Quite often judicial foreclosure sales are held on the courtroom steps as soon as a judgment has been reached.

4. Redemption period- During this stage some states allow the property owner the opportunity to get title back, provided they pay the full amount of the original debt and any new fees that they may have accumulated.

Investors need and should know if the foreclosed property they wish to purchase has a redemption period or not. As an investor you won’t want to make any type of improvements to the property until you know for sure that it is yours.

Rein Canada

Foreclosure Investing

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When selling your property house sale by owner you will ultimately hold your own real estate open house. Even if you are using the services of a Realtor, knowing and understanding how to hold an open house maybe the icing on the cake so to speak, that gets your property sold.

Whether you are selling your personal residence or you are selling one of your real estate investing properties, I have written below 12 different points or ideas that you can use to help you set up and run your own open house.

1. The best time to hold an Open House when selling by owner or not is on Saturday and Sunday 1:00pm-4:00pm

2. Use a guest list to acquire perspective buyers contact information of everyone who views your home.

3. Allow as much light into each room as possible. Open all curtains or blinds and turn the lights on.

4. Play nice easy listening music in your home wherever possible.

5. Depending on the time of year a warm fireplace can be a welcoming touch.

6. OPEN HOUSE flags and signs will draw attention to the home and make it easy to find. Make sure you use sale by owner signs.

7. Run an ad in your local paper or in any free classified ads on the internet for your area.

8. Buyers will want to see a neat and clean home inside and out. A freshly painted home inside and outside not only looks cleaner but can add value to your home.

9. Make sure the garage is neat and clean and your vehicles are parked on the street if possible and not in the garage. Your garage will look larger if there are no vehicles inside.

10. Make sure all toys and garden tools are cleaned up outside.

11. Water the grass in the front and rear of your home just prior to the start of your open house.

12. Not every one is a pet lover so try to keep them out of the way.

Hans Anderson

Foreclosures in the United States.

Canadian Foreclosures

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As an investor if you can master the art of negotiating short sales you can have a lasting source of income to rely on. You can use this money to supplement your income or even a new career. Short sale deals require the ability to factor in particular facets of a property to determine an acceptable purchase offer.

Your not going to have every offer accepted, and some enticing deals will be too risky but once know how to spot a good deal negotiate successfully, your on your way!

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Hans Anderson

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I came a across this story that I’d like you to read.

Once upon a time a very strong woodcutter asked for a job from a timber merchant, and he got it. The pay was really good and so were the work conditions.

For that reason, the woodcutter was determined to do his best. His boss gave him an axe and showed him the area where he was supposed to work.

The first day, the woodcutter brought 18 trees “Congratulations,” the boss said. “Go on that way!”

Very motivated because of the boss’ words, the woodcutter try harder the next day, but he only could bring 15 trees.

The third day he tried even harder, but he only could bring 10 trees. Day after day he was bringing less and less trees.

“I must be losing my strength”, the woodcutter thought. He went to the boss and apologized, saying that he could not understand what was going on.

“When was the last time you sharpened your axe?” the boss asked. “Sharpen? I had no time to sharpen my axe. I have been very busy trying to cut trees…”

It got me thinking, about my investor “are you trying too hard with your old axe”. You need to sharpen your axe.

How sharp is your axe?

Hans Anderson

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I want to wish all Canadians a very Happy Canada Day 2010 from my family to yours.

Hans Anderson

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