Profits in Foreclosures

If you haven’t tried investing in foreclosures, then you are missing the biggest source of cheap houses in Real Estate. The best thing about foreclosures is that every month a new list of properties comes out. Alamo Foreclosure Service reports over 5000 properties each month in the 4 County DFW area. That is 5000 opportunities for cheap property, which can turned into profit. Buying before the auction requires the least amount of experience. Just imagine 5000 properties every month that are already financed. That means you can get in with a low down using other people’s financing. The biggest expense is the back payments due. If you can arrange a short sale, you may not have to make those payments. How many houses can you afford to buy at 0 down?

There are many available now. Owners in foreclosure can be contacted by mail, by phone or if your not shy, just dropping by.

Mail is the easiest way to contact them. You will have to send out several letters to owners to get their attention. This becomes complicated with Texas’s short foreclosure period. Most of the foreclosures are not even posted until 21 days before the auction. That means you will probably have to send at least 1 per week to get their attention.

Phone is probably the cheapest and quickest way to contact the owner’s in foreclosure. Finding the phone numbers is the difficult part. Then it is just a matter of planning what you want to say. Focus on closing the deal. The owners know that they need to sell. If you have a lot of problems finding the phone numbers, Alamo Foreclosure Service can do an Owner Number Search for you. This is a detailed search of possible phone numbers for the person as well as relatives’ and neighbors’ addresses and phone numbers. The cost is less than $10 and it is a good way to find an owner when you are sure there is a lot of equity there but other means are just not working.

Dropping by the property is the most time consuming way to contact owners. But you have to look at them at some point and you contact will be more effective. Have a plan of what you intend to say. For best results, be friendly and helpful. Have a contract ready as well. It never hurts to be prepared.