With the mortgage crisis in full swing, homes are going into foreclosure left and right all across the country. In 2005 there were 850,000 foreclosures, with the number of foreclosures increasing every quarter.
All these foreclosed properties offer you a great investment opportunity. You can scout and buy homes in foreclosure, then keep them as rental properties and collect monthly checks from tenants. Or you can purchase foreclosed properties and flip them, renovating and selling the homes for a profit. The time has never been better to use the real estate market to your advantage. Continue reading Record Foreclosure Rates Could Mean Cash in Your Pocket
What are FSBO homes, and can you really make money flipping them? First some definitions. “Flipping” refers to buying and selling real estate for a profit over a short period of time. Some “flippers” are looking only to make money from buying low and reselling quickly, while others repair and improve or otherwise add value to the property before selling it – an important distinction we’ll get back to in a moment.
FSBO, pronounced “fizbo” means “for sale by owner.” Owners try to sell on their own primarily to save the cost of a real estate broker’s commission. This is often a mistake, for many reasons we won’t get into. The bottom line is that these houses statistically sell for less on average than those sold through an agent, negating any savings. Continue reading Flipping For Sale By Owner (FSBO) Homes