Guide to Buying Investment Property in Philadelphia
Like many investors you've probably seen your profit margins on Philadelphia investment property drop like a rock over the last few years. Don't worry, its not all your fault. The market over the last few years has taken all of us for a bumpy ride. But now is the time to refocus and make a shift in your thinking. And that means stepping out of your comfort zone a little bit and start to explore investment property types that you may not have previously considered.
One such type of property is pre foreclosures. These are homes where the owner is barely hanging in there, or maybe they've already given up on making their monthly payments and the bank is being slow to actually foreclose. You can be their saving grace and make a good bit of money at the same time.
Your best chance at making a profit on these deals is to find a home where the outstanding mortgage balance is well below market value of the home.
Wholesale properties are another kind of Philadelphia investment property that you need to keep an open mind to. You may have heard of these deals before, but never thought you could get in on the action. Most of these deals happen investor to investor, cutting out all commissions, advertising fees, and keeping the deal exclusively between the two parties.
There are many reasons why another investor may want to sell one of their properties at wholesale. Many times they've simply purchased more properties than they can effectively manage and maintain. The benefit of this type of deal is that both parties make out well, and the deal can happen very quickly.
The biggest challenge with both wholesale properties and pre foreclosures is finding them. But this is no longer a problem for members of MyHouseDeals.com. We compile the most accurate list of available wholesale and pre foreclosure investment property in Philadelphia. Not only do we compile the list, but we actually go through each listing and find the deals that make the most financial sense.
But don't take our word for it. See why other know that MyHouseDeals.com is the best place to find those hidden gems. Try us out for free today.
Additional Articles: Philadelphia HUD Homes | Philadelphia Investment Property | Philadelphia Pre Foreclosures | Philadelphia Real Estate Investment Clubs | Philadelphia Rental Property | Philadelphia REO | Philadelphia Wholesale Property