Profit Seeking Investors Bypassing Indianapolis REOs
Spending more time looking for pre-foreclosures and wholesale properties is a better use of time
The real estate market is flooded with Indianapolis REOs, but just because there are lots of them available does not mean they are the types of investments you should go after. There are much better alternatives that I'll tell you about in a moment.
But you should first know why Indianapolis REOs are no good as an investment. The main reason is competition among investors. So many people have begun investing the last couple years, and most have turned to foreclosures and bank owned homes in the Metropolitan Indianapolis area. All this competition has driven prices for REOs to the point that once you purchase one, you are not likely to make the kind of profits you could have expected just a few years ago.
In today's market, if you still hope to make the kind of profits you might have made when you got hooked on real estate investing, you need to change your game plan a bit. You should now turn your focus to pre-foreclosures and wholesale properties.
Pre-foreclosures are not easy to find because they do not appear on the bank owned homes list yet. The owners still have a couple months before they are forced into foreclosure. Most of the time all these owners need is the amount that they owe on the mortgage. They are happy to give up any equity they may have built up in the home for the ability to avoid foreclosure.
Wholesale properties being sold by other investors are also a good place to find unexpected profits these days. Investors sell these homes for various reasons but usually due to the fact that they have overextended themselves either financially or with their schedules.
These investors know that in order to sell quickly they must be willing to sacrifice any profits they had hoped to make. They also know that their best bet for a smooth and quick transaction is to find investors like you to do these deals with.
Our website MyHouseDeals.com has a list of wholesale and pre-foreclosure deals in Indianapolis Area updated everyday. We give you information on the asking price, the estimated cost of repairs, property tax information and more. We even give you contact information including the phone number for the owners of each property so you can get in touch for quick answers to any other questions you may have.
The best way for you to leave the world of Indianapolis REOs behind and explore these more profitable opportunities is to sign up for a free membership to our site. You can do that by clicking the button below. Try it today!