There are certain types of Atlanta investment properties that give real estate investors an edge over the competition.
If you are an Atlanta investment property owner, you know the market is always changing. What were once considered ideal types of property to purchase have become either too expensive or too hard to find to make them worth the effort considering the lack of profit potential in today's market, including Atlanta investor-ready foreclosures.
Typical Atlanta foreclosure aren’t what they once were. One of the most common types of Atlanta investment property deals for the last several years has been foreclosures.
The key now as it relates to foreclosure investing is to find homes that are in the pre-foreclosure stage. This means that the bank has not taken ownership, but the owner is several months behind on payments or headed in that direction. The opportunity to pick up pre-foreclosure investment properties at prices well below market value can be a win for the investor and the homeowner. For the investor, the chance to pick up a property for the outstanding mortgage balance(or even less) is enticing!
Additionally, we offer investor-ready foreclosures, which are not your typical foreclosures. The competitiveness at foreclosure auctions drives the cost up and makes typical foreclosures too expensive to buy as a discounted property. The investor-ready foreclosures on MyHouseDeals are properties that weren’t bought at a foreclosure auction. They are now bank-owned.
You might get lucky with a typical Atlanta foreclosure property every now and then, but the majority of the properties are worth much less than the amount the bank held the mortgage for. Banks simply don’t want these foreclosed homes on their books, which is a big reason why the banks are moving even slower when it comes to taking over a home in foreclosure these days.
Wholesale properties are offloaded by other investors. Some investors have a tendency to bite off more than they can chew and purchase more properties than they can manage or rehab. In other cases, they just want to free up cash in order to purchase another investment property they have their eye on. In any case, these homes will usually require some work, but if you're willing to put in the effort, it can really pay off when it comes time to sell or find a tenant.
One of the best sources to find Atlanta investment property is MyHouseDeals. We compile an ongoing list of the most profitable investor-ready foreclosures, pre-foreclosures, and wholesale properties and make this list available to our members.
By Doug Smith