Up, down or sideways the machinations of the real estate market will occur. Back in 2010 home foreclosures peaked at 2.9 million. In 2018 there were 600,000, the lowest number since 2008.
Point being, there are always foreclosures happening it’s just a matter of how many.
Finding Opportunity in a Tough Market
Many investors, especially in hot markets are complaining that there aren’t any deals. They aren’t completely wrong, there may be less deals as we can glean from the foreclosures numbers – deals still exist though.
The 600,000 foreclosed homes in 2018, something has to happen with those. Some person, investor or business will likely end up with them.
So why not you?
If you are thinking – I don’t want to chase down foreclosure leads, prospect pre-foreclosures and possible auctions, you don’t have too.
I don’t. That is what I use wholesalers for. At this point anyone interested in real estate investing knows what a wholesaler is, but if not…
Real Estate Wholesaler: A person or entity that secures the right to purchase a property with a contract and finds an end buyer, whether by assigning them the contract or doing a double close.
That’s my official description for it atleast.
And that is exactly what I do. I leverage wholesalers who are out the making the calls, knocking on doors, etc. They find these deals and then I buy them if the numbers work.
Do they make a fee, of course they do – why else would they be doing it. It’s a win-win though. I’m free to work on building my real estate portfolio and they make a fee for bringing me a deal that I’m only buying of the numbers work for me anyway.
Plus my time is valuable and hunting leads is time consuming. Either way, there will always be some kind of opportunity out there.
As the title says, foreclosures happen in any market.
Be sure you are using the rental property calculator to analyzing potential deals a wholesaler may bring you.
For a complete guide on investing in rental properties and to discuss some advanced strategies for properties in foreclosure, such as assuming the mortgage or doing a short sale, considering this option: videos and coaching call