There are various reasons you haven’t gotten a good foreclosure deal yet. For some of you, it is not for a lack of effort.
However, there are a few things that keep most people from getting a good foreclosure deal.
1) Not understanding that buyers can get loans. These loans are provided by the government, and depending on the county, the buyer can get approved for loans capping at $300,000 - $500,000. I get comments on these blogs saying buyers can’t get loans, but I consider that funny when I have buyers up to 6 - 7 people deep on any one property that I can pick up.
2) Thinking they can’t get a deal at 65% of the ARV. Again, this is not for lack of trying. However, you must remember that these deals will NOT be listed at 65% on the MLS. You must create these deals. Look, real estate is creating profits off of a property that no one else wants. At the same time, though someone else may not want to deal with it, the profit is created by HOW you offer to the deal to the seller. No one hands you a million dollars. You create it through an education of how to put deals together.
3) Funding is also a big challenge. I understand that many people do not have cash or credit. I also get that hard money lenders want ridiculous amounts of money down. However, have you ever considered combining hard money with a private investor? My funding dvd showed people how to do that when it was available. It is no longer available
All in all, most (not all) don’t get good foreclosure deals because they lack the EXACT EDUCATION to understand the market place.
This week I will help you with that when I release my E-Book on Foreclosures. I will let you know the date and I will include a No Cost Bonus for the first 30 that take action on getting the Ebook. The No Cost Bonus will be me talking about getting FUNDING AND MAKING OFFERS. Buy yours at http://ecroup.armandomontelongo.com
Take Care,
Armando Montelongo, President
Armando Montelongo Worldwide, Inc.
Discover the secrets of getting rich by investing in real estate without using your own money @ http://ecroup.armandomontelongo.com
ECROUP Property & Investments LLC - www.EcroupProperty.com
