Smart Boston Real Estate Investors Look Beyond HUD Homes
Are you eager to enter the Boston real estate market as an investor? Experts and professionals all across the country are encouraging newcomers to consider real estate investing as a path to wealth.
However, what you may not know is that these same experts are probably not telling you about some of the best deals in real estate investing today. Let’s take a look at the standard advice, which, for the most part centers on snapping up HUD properties.
What is a HUD home? A HUD house is a property acquired by the government as the result of a foreclosure action. Traditionally, HUD listings have been fertile ground for finding low-priced homes that the smart investor can turn around and re-sale. But lately the HUD foreclosure home has lost some of its luster. Why? Because too many other people have become interested in HUD homes for sale.
As more and more investors enter the market and vie for a HUD property, in many cities, including Boston, the demand in the HUD home market has driven prices way up. A real estate investor depends on buying a home at a bargain price and re-selling it for more to make a profit, so it’s important to find an inexpensive property to begin with.
Another problem with the HUD foreclosure home is finding one. Nearly every real estate expert you see on television or the internet recommends HUD housing. Every HUD listing is going to be viewed by hundreds of other eager buyers. This not only drives the price of HUD foreclosures up, it makes it difficult to even purchase a HUD home. By the time you sort through the HUD listings and decide on which property to buy, your choice will likely be gone.
So what should the savvy Boston real estate investor do? Never fear, there are other options for the real estate investor, they simply aren’t as well known. Pre-foreclosures, or motivated seller leads, are excellent places to start. These properties belong to homeowners who have defaulted on their mortgage payments, but their houses are not yet on the auction or foreclosure lists. A pre-foreclosure is not yet on the public listings, and the owner is usually eager to sell fast and cheap—anything to avoid having the bank repossess his home.
Another option that is often overlooked in Boston real estate investing is the wholesale market, which means simply that it is a property for sale by another real estate investor.
What’s the best way to subvert the HUD home foreclosure list and find listings for pre-foreclosures and wholesale properties? At www.myhousedeals.com we provide listings for the Boston real estate market that are updated daily and delivered right to your computer screen in a user friendly format. With our listings, you’ll find all the information you need, including details of property location, seller information and property value.
Savvy Boston real estate investors are looking beyond HUD foreclosures and finding bargains galore in motivated seller leads and wholesale properties. Isn’t it time you joined them? Become a member for free today by clicking the button below!