Homes for Sale
Homes for sale are everywhere and for savvy investors it's a buyers market like never before. The trick to getting great real estate deals is to first determine what types of investment houses suit your needs.
When seeking out homes for sale for investment purposes, there are many opportunities available. Many real estate investors prefer single-family homes for rental purposes. Others invest their money in multi-family dwellings such as apartments, duplexes or condominiums.
There is also money to be made in manufactured homes for sale. Up and coming mobile home communities, which cater to residents 55 years of age and older, are becoming quite popular for investment purposes. Some investors seek out homes for sale as use as vacation rentals.
Some of the best investment deals can be found in pre-foreclosure homes for sale. Distressed homeowners would prefer to sell their home before foreclosure completely destroys their credit. By offering to purchase a pre-foreclosure home, the homeowner's lender will oftentimes agree to a short sale. Shortsales allow the homeowner to pay less than is owed on the mortgage note.
Real estate owned (also known as REO or bank owned) homes for sale can offer significant savings to investors. They can also be a great deal for first-time homeowners, credit-challenged borrowers or those looking for a second home.
REO properties are foreclosure homes that did not sell at auction. Although they generally require repairs, upgrades or renovations, they are oftentimes a better investment than foreclosure homes. Unlike foreclosures sold through auction, when homes are sold through the bank they have a clear title.
Investors new to the real estate game should enlist the help of trained professionals. Otherwise, they could end up being in over their head. Before purchasing homes for sale as investment property, new investors should always create a checklist which includes the following:
- How much can you afford to invest and how much you can afford to lose
- Where will you obtain financing
- Types of homes you desire
- Location you desire
SimonVolkov.com offers a comprehensive list of REO properties and investment opportunities through his free Real Estate Investment Club RSS feed. It's easy to subscribe. Simply enter your email address and you'll instantly receive access to current listings.