Existing-home sales climbed 9.4 percent in September to their highest level in more than two years, fueled by demand for cheap properties and an $8,000 tax credit for first-time buyers, according to industry data released Friday.
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Contract for Deed
There is a lot of chatter about buying REO’s and foreclosures, making a fortune in real estate, and getting rich quick. A lot of big promises and under-developed plans. Our program isn’t one of these.
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For many investors, the very first question to ask before they buy is, “do I stay local or go national?” Of course new investors will always want to focus locally while the more experience investors look at both local and national markets. It really depends on your comfort level, your experience, and personal resources.
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As many owners can attest, ownership has its drawbacks. Indeed, in the absence of a rising market to ease the pain of having property, owners might be excused for wondering what it would feel like to surrender the keys and become a renter again. Would it be a relief — or an unnerving loss of control? A comedown, or, in the aftermath of the housing debacle, a fashionable, politically correct choice? Moving from owning to renting seems to teach some people that they just weren’t meant to be renters, while others find it liberating.
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In the old days, buying at auction at the county courthouse was usually an excercise in futility. Bank representatives were bidding up their properties close to FMV or simply bidding up to the amount owed on the note. Banks took back the properties, put them on the market and within a few weeks sold the property and recouped nearly the full amount of the forclosed note. These days, home values have plummeted and values are so depressed that banks are simply taking the highest price bid at the auction offered by investors and selling them off. The auction sales price is typically a fraction of what the previous note was and well under market value. It’s like stealing candy from a baby.
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There is a lot of chatter about buying REOs and foreclosures, making a fortune in real estate, and getting rich quick. A lot of big promises and under-developed plans. How do you protect yourself? Where should you put your money? What type of properties should you invest in? What should your exit strategy be? There is one program that addresses all of these concerns offering a safe, secure and steady cash flow opportunity with a solid exit strategy. It’s called contract for deed property programs. These programs offer affordable entry level prices for under $35,000; guaranteed monthly cash flow; no rehabbing; ancillary services such as sales and marketing, doc prep, inspections, property management and refinance services; and most importantly; 50% to 60% ROI or more. Let’s look more closely how this program work.
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These days, it seems the discount pricing is simply unbelievable. It’s mind boggling that houses are available for under $10,000. With any buy, comes risk and you know the old saying, “cheap can be expensive.” The experienced buyers know exactly what they are buying and what they plan on doing with them after acquisition. Simply put, you need to know what your exit strategy well be before you stroke that check.
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