Days Competing for Overpriced Foreclosure Properties Over for Some Indianapolis Investors
New options for investing profits means a decline in foreclosure investing for some
You cannot escape the fact that there is an explosion in the number of foreclosures available for sale in the Metropolitan Indianapolis Area. The thing is though, that despite the sheer number of foreclosures, the profits just aren't what they used to be for most investors.
A large amount of competition among investors bidding on the same bank foreclosure list has lead to higher prices and lower potential profits. In fact I'm sure you've heard stories of investors losing money investing in foreclosures, where just a few years ago they could expect 5 figures from each deal.
Smart Indianapolis investors though are changing their focus and looking to buy two specialized types of property. These two types of property have not received much press and aren't sought after by the general investing population. You should take advantage of this while you can.
The first type of investment you should think about is motivated seller properties, also known as pre-foreclosures. These are homes where the bank is on the verge of foreclosing, but the owner is hanging on by a thread and the home has not quite made it to the foreclosure list.
The homeowner's best option in this case is to find an investor like you to buy their home, which you can usually do for whatever they owe on the mortgage. If they have any equity built up in the home, it could easily be yours by being in the right place at the right time.
Wholesale properties are also in favor among Indianapolis investors. These are usually investor to investor deals, where one investor sells to another for cheap because they want to get the property out of their portfolio. Reasons vary but this is usually due to a lack of time to focus on the specific property or a need to get some quick cash to pursue a different deal.
The only prevailing issue with pre-foreclosures and wholesale properties is their lack of visibility. You typically don't see them advertised in the MLS or in the Metropolitan Indianapolis Area newspaper. But you can find them on our website, MyHouseDeals.com.
Our website gives you in full detail all the information you need to make a smart investing decision. Everything from financial and tax information, neighborhood data and photos, even the seller's contact information. You won't find this level of detail anywhere else.
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