Central Texas REOs No Longer the Bargain They Once Were.
Smart Investors are learning how to find and profit from pre-foreclosures and wholesale deals.
The Austin and San Antonio real estate markets are being flooded with REOs as owners cannot keep up with payments. While you would think this would mean a big opportunity for profit seeking investors, it just isn't so. Don't get me wrong, it used to be that REOs were a preferred investment but in the last year or two they have lost their luster.
The main reason is high competition for REOs. So many investors including a large flock of newbies are looking into every REO to hit the market, and it really makes it tough for the veteran investors to find the deals they are used to. The profits are still out there, but just not in REOs so much anymore.
Where the profits are today is in Central Texas wholesale property deals and seller motivated properties, also known as pre-foreclosures. While REOs are overpriced and have too much competition, pre-foreclosures and wholesale properties are still relatively unknown investments and there is still good money to be made.
Wholesale property deals are those homes being sold by other investors for well below full market value. These investors sell for different reasons, but usually the motive is to free up some quick cash or to free up time to focus on other investments in their portfolio. No matter what the reason though, the bottom line is that if you can find wholesale property deals, you are on your way to investing success.
The other good real estate investment option and Central Texas bank owned homes alternative these days is seller motivated, or pre-foreclosure properties. These are homes not yet on the REO property list.
Owners of pre-foreclosures are near the end of their financial ropes and need an investor with some quick access to cash to get them out of trouble. In most cases you can purchase these kinds of property for the amount the owner owes on the mortgage. If there is any equity built up in the home, this could be your profit.
MyHouseDeals.com provides Austin and San Antonio investors with a list of the most recent wholesale and pre-foreclosure properties to come on the market. We also give you the financial and tax information you need to make a smart decision on one of these investments for your portfolio. You won't find this kind of information anywhere else.
We could go on about all the features of the site but why not just see for yourself. Become a member for free today by clicking the button below, and you'll be on your way to investing success in Central Texas wholesale and pre-foreclosures!