By Josh Cantwell:
How do I get started?
Most investors looking to pursue real estate just don’t know where to begin.
What courses should I take?
Where do I find money to start marketing?
Where do I find money to fund deals?
What niche should I focus on?
With today’s market there’s no doubt that the foreclosure arena is the niche to be in, but arena is pretty broad –– which one of the many aspects of the foreclosure business should you pursue?
Rehab’s?
Subject to’s?
Short sales?
REO’s?
Auctions?
Let me help you clear some things up.
The number of foreclosures is sky high; Banks are going under left and right. The number of houses in some stage of foreclosure is at the highest rate since the GREAT DEPRESSION.
We’re talking Herbert Hoover, the Stock Market Crash of ’29, and the Dust Bowl years.
It’s that bad.
Subject to’s are almost impossible to complete right now. Why would anyone take over a house subject to when the value of that property is declining and the mortgage on the property is increasing because of foreclosures costs?
Auctions . . . lenders are buying back nearly 97.5 percent of all the houses that go to auction. Once the opening biding starts the lenders are out bidding just about every investor at the auction because their loan balance is so incredibly high.
REOs and Rehab’s can be a great opportunity, you just need the cash, or credit and the expertise to be able to buy right, rehab right and sell right. New investors often times lack the expertise to complete such complicated tasks.
Short Sales . . .there has never been in the history of our financial markets a better time to get involved in this niche. Banks are looking to unload their inventory of bad loans in a hurry. Investors are getting houses for 50 percent of their values and quick-turning them for profits to retail buyers and wholesaling them to other investors.
If I were starting out today I would forget subject to’s, forget auctions and head straight for short sales and REO rehab’s. The markets dictate where the money can be made. You just need to understand the market and the cycle.
Right now, everything is lined up to give those who take the time to learn about short sales and rehabs an amazing opportunity. Money is still cheap to get; buyers can still get loans because the Federal Reserve has continued to cut interest rates.
If you have not yet read The Short Sale Manifesto, now’s the time.
Go to www.shortsalemanifesto.com and download your free copy.
No reason to start by paying thousands of dollars for a course you are not even sure you will use or need.
START WITH THE MANIFESTO and your journey to capitalizing on a niche many think they know, but few understand, will be on its way!
