Purchasing a foreclosed home can be a great investment opportunity. Whether you’re taking occupancy yourself, or leasing the home to tenants, you’ll most likely see some gains from your purchase. But, what if the foreclosure already has renters taking up residence? If you’re considering purchasing a foreclosure with tenants, you’ll first need to decide whether you’re going to live there, or continue renting it. Depending on the location of the home, there may be some state and local laws in place that will determine how you proceed. If there is a lease, tenants may be protected in a foreclosure situation.
Because Atlanta foreclosures are higher than usual – they’ve been on an upswing since January – that means there’s more opportunity for you, as an investor, to take out a hard money loan and pick up a property that you can flip. The selection is better, and you’ll likely spend less money than you would when properties are few and far between. Is Foreclosure Investing Right for You? Investing in foreclosures isn’t for everyone. In fact, many experts recommend that you gain some experience in traditional real estate investing before you dive in headfirst. Here’s what you need to know:
With TV shows boosting the popularity of house-flipping as a business, people who ordinarily wouldn’t have ventured into real estate investment territory are jumping on the bandwagon. But if you’ve been in the business for a while, you know this isn’t a get-rich-quick scenario. You know that you still need to find the best deals, but the market is getting crowded with investors who aren’t… well, aren’t as invested as you are. So what do you do? Finding Turn-Key Homes in a Seller’s Market Like most real estate investors, you may find that Atlanta flips are hard to come by.
When you find a “diamond in the rough” house or commercial property, you know you need to act quickly. Day after day, investors are hunting for houses and commercial properties—and they probably have their eyes focused on the same prize that you're watching. Discovering a spectacular property at the right price is the name of the game. Short Sales and Foreclosures: How to Cash in as a Real Estate Investor Short sales and foreclosures are hot commodities in some cases, and you know that banks are around to lend money and make money. They are not in the business of