St. Louis Investors Turning Away From HUD Properties
High prices and competition force investors to find new ways to profit
HUD properties have been a steady part of a lot of investor's diets in the Greater St. Louis area. For years they have meant great bargains and consistent profits. But now those profits are coming in to check with reality as thousands of investors compete for the same pool of St. Louis HUD listings.
It's the typical investing scenario, no matter whether its stocks or homes. The profits are great when you're on to something that not many other people are aware of. Then all of a sudden the barber, the dry cleaner, even the bartender are trying to invest in the same properties as you and up in smoke go your profits.
But that's okay, it's only a sign that its time to move on. Lots of investors will not move on but will spin their wheels for several years to come in the Greater St. Louis HUD cesspool. So assuming you are in fact ready to move on and find greener pastures, let me tell you a little bit about motivated seller leads and wholesale deals in St. Louis and Metro-East.
Motivated seller leads, or pre-foreclosures as they are also called, are becoming more and more common these days as homeowners struggle to make ends meet in today's tough economy. After getting behind on payments, and to avoid an all-out foreclosure, these homeowners look to sell their homes quickly, usually for the amount they owe on the mortgage.
If they have built up any equity from the time they bought the house, in many cases that money can be yours for being able to act quickly. And because competition is so low right now for pre-foreclosures, there is still good money to be made.
Other investors sometimes have homes that they want to sell quickly, too. Sometimes they just don't have the time to work through fixing a house up for resale, or other times they've just overextended themselves and bought too many properties. Remember, these are investors so they know that if they want to sell quickly, they're going to have to sell far below full value. Again, easy money if you know where to look.
I'm not surprised if you say you haven't really seen many of these types of property advertised. Rarely do you see these types of investments in the paper or the Multiple Listing Service of Greater St. Louis.
One of the few places you will find these types of properties listed is MyHouseDeals.com. In fact, our listings are updated daily with the latest wholesale deals and motivated seller leads. These are opportunities that very few investors have had a chance to see.
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