Part 2 of Tim’s Pre-Foreclosure Series

Hi folks,

Can you believe it’s almost time for Christmas? This year has just flown by! I wanted to wish you a very merry holiday season, and I hope you and your family are well.

Addressing the current instability in today’s real estate investing market, here is Part 2 of my Pre-Foreclosure Series:

What Are the Benefits of Working in the Pre-Foreclosure Market?

Fourth, a great advantage of operating in the pre-foreclosure market is that you’re able to research and inspect properties. This isn’t possible during the later auction phase of foreclosure which means you could end up with a “pig in a poke” if you’re not very careful. Buying a pre-foreclosure avoids this potentially disastrous possibility.

Fifth, you’re able to structure sales agreements in a creative fashion. This means you can generate the best terms possible for you while, at the same time, helping a home owner out.

Sixth, you have the opportunity for financial and personal freedom. In effect, you’re an entrepreneur, and you can set your own hours, rules, and profit goals. You’re no longer slave to a boss and a rigid office routine. Best of all, once you become proficient at buying and selling pre-foreclosure properties, you can ensure a secure future for you and your family since you’re not limited to the amount of money you can make. Also, your knowledge of the pre-foreclosure market will transfer to other aspects of real estate, allowing you to expand your efforts into different markets.

(If you missed the first, second, and third benefits of the pre-foreclosure market in last week’s Part 1, go here to read about them.)

Of course, every field has its disadvantages as well as advantages, and it pays to be aware of them so you’re prepared to deal with and overcome them. We’ll look at the disadvantages of the pre-foreclosure market in Part 3 of my Pre-Foreclosure Series next week.

To Fun, Fortune, and Freedom!

Tim Mai
Lead Mentor

Posted on Dec 22, 2008

Author: Doug Smith

MyHouseDeals was founded in April of 2005 and has since provided information on thousands of bargain-priced properties with over $7 Billion in equity (and growing!) In addition to property lists, we help investors succeed by providing valuable tools, resources and education. Most of the properties on MyHouseDeals are single-family houses. Many of these properties are wholesale deals, which are for sale by other investors. Others are motivated seller leads, which are for sale by homeowners who are often in a bad situation. These properties are typically discounted by far greater amounts than bank foreclosures.

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