Most people feel negatively about the word foreclosure but they are still on the rise and the banks do not have a desire to hold on to a huge abundance of properties.
The top 3 reasons investors profit from foreclosures are listed below.
1.
Foreclosures are at an all time high So many people are stuck in home loans that are well above their current house value and have lost most if not all of their equity.
The job market is a lot more competitive and people are worried if they'll be greeters at Wal-Mart as their retirement so their looking for options.
2.
Struggling economy Most 401k's have turned into 201k's.
The national debt is increasing a quantifiable amount every second.
People are afraid to invest their money or make a long term commitment.
If you've ever had money to invest now is the time to do it! 3.
Pick up homes for pennies on the dollar As an investor you can pick up homes for pennies on the dollar and make homes available for other people in need, the value of the home will be at the current market range, and the market is predicted to go no where but up from here.
No matter how you feel about foreclosures...
they happen and are happening more and more during this economic crisis.
If you're looking to start investing the best properties to check out are the ones that have been foreclosed on already.
It may not be a good idea look at the legal announcements that run in the paper and going to knock on the owners door, unless you want to help them out.
A lot of foreclosures listed in the paper can still be saved before the auction and homeowners under stress do not need someone coming by to check out their home their trying to save before it goes to auction.