Oklahoma Foreclosures Being Passed Over For Alternate Real Estate Investments
Wholesale properties and pre-foreclosures are becoming more profitable options.
Lots of Oklahoma City and Tulsa foreclosures have been bought and sold over the past several years. At first it was only by savvy investors but more common these days are the weekend warriors who don't have a real clue what they are doing.
But because so many of these weekend warrior types have entered the market, competition is now fierce, prices for foreclosures are much higher, and profits are lower. If you are smart, you'll take this as a good sign to begin looking elsewhere if you want to stay in the real estate investment game and remain profitable.
A group of Oklahoma investors have done just that by turning their attention to motivated seller properties and wholesale deals that novice investors have not heard much about. There is much less competition in this arena, less stress because you don't have to worry as much about beating the next guy to the punch. Not to mention more potential profit than Oklahoma foreclosure properties ever produced.
Motivated Seller properties, also known as pre-foreclosures, are homes that are just a month or two away from making the actual bank foreclosure list. The sellers are very motivated because they want to avoid the process of foreclosure as much as possible. Oftentimes their only chance of doing this is by finding an investor like you.
The process in its simplest form is that the owner will usually sell the home to you for at or near the mortgage payoff. You and I know that if they have been in the home a number of years, there is probably some decent equity in the home. This equity can be yours.
Another type of property you should be on the lookout for is wholesale property being sold by other investors. Investors sell property for a variety of reasons, but sometimes they need to do it quickly. So very often they will sell it wholesale to another investor who can then give the property the time and attention it needs to be sold at full market value.
You may just now be hearing about pre-foreclosures and wholesale properties for the first time and wondering why that is. Well for one they are not listed in Oklahoma City or Tulsa newspapers, and truth be told smart investors have kept them a pretty good secret. Who could blame them?
But you can find the most up-to-date list of wholesale properties and motivated seller properties on our website, MyHouseDeals.com. We also give you all of the information you need to figure out if a particular deal is right for you. So that you can see what the site is all about, Become a member for free today by clicking the button below!