September 6th, 2009 admin 
With the housing market in a downturn and hundreds, if not thousands, of homes going into foreclosure, people are beginning to talk more about and pursue foreclosure investing. But, what is it and how does it work? Well, for answers to your questions on foreclosure investing, keep reading.
What is foreclosure?
Foreclosure is a process that is initiated when a homeowner is not able to pay the mortgage on their property or sell the home quickly or efficiently enough. The financial burden is no longer manageable and the house then becomes the property of the lender or bank. Typically, the property is later sold at a below-market prices in order to settle the outstanding debt.
foreclosure property?
Hi, I am trying to buy a property that is going to a foreclosure auction. The thing is I want to buy the proprety before it even hits the court auction. Should I get a lawyer of my own or deal directly with the plantiff’s lawyer?
Are you aware that it is a bidding process? I would get someone who knows how to handle this type of transaction, whether it be a real estate attorney, or a Realtor knowledgable in auctions. You could deal direct, but it sounds like you need guidance and you won’t get it from the plantiffs lawyer.
Stockton, California reported the highest foreclosure rate among the nation’s 100 largest metro areas from Jan to Jun 2007, according to RealtyTrac, an online marketplace for foreclosure sales. Detroit and Las Vegas documented the next highest foreclosure rates. RealtyTrac’s 2007 Midyear Metropolitan Foreclosure Market Report showed the foreclosure activity in the top 100 metro areas for the first half of 2007. As foreclosure rates continue to rise, 82 out of 100 metro areas recorded year-over-year increases in foreclosures.
“The greatest discovery is that if you change your attitudes your change your outer aspects of life.”
There is a really good quote from a guy by the name of Ron Legrand (you may have seen his stuff in Nightingale Conant) that sounds silly, but is very true and applicable to our businesses. Ron says, “The less I do the more I make” and he really means many things here.
First he is talking about delegating as much of the non value things as possible to someone else and not being involved in minimum wage activities just money sucking activities.
Real estate investment information?
I’m 20 years old and I’m looking for sources of information for buying real estate properties and renting them out. I’ve read many books and purchased many programs on the subject, but am looking for the complete deal. With subjects such as insurance, property management companies, loans, etc… I need a really technical resource with not a lot of fluff. The real meat and potatoes of the business. Thanks for the help.
Where do you find a mentor?