There’s no time like the present to invest in real estate, especially as so many foreclosure homes on the market mean real value for money. Carol and David Bryant are a husband and wife team with almost 30 years of combined experience in the vacation rental and property market. They are owners of Eden Crest Properties, LLC, based in the Pigeon Forge and Gatlinburg areas of eastern Tennessee. Here, they discuss how investing in a foreclosure home can make you money.
With foreclosure homes, basically you are taking benefit of someone else’s bad luck. Foreclosure means a situation in which a property owner is unable to keep up mortgage payments, which allows the lender – usually the bank – to seize the property.
As a general rule, you can buy foreclosure properties for 40 cents to 50 cents on the dollar compared to what it sold at originally. That means you are getting a good deal.
Simple, Clean Investment
Foreclosures are a simple and clean investment. The bank that originally held the mortgage now owns the property, so the bank that owns the property has set the price they are willing to take. As realtors, we are negotiating with the bank.
The original owners now have to walk away from the investment they had made, and the bank actually eats the loss. The owners sometimes have to pay the taxes. But as a general rule they just walk away from it and their credit is affected. But after it forecloses, they are out of it altogether.
High Returns
Investment real estate foreclosures and short sales offer tremendous opportunities for unusually high returns in investment properties, which means that you as an investor are getting in on what could be a good deal.
At Eden Crest properties, we can also help you enhance the tax advantages of your IRA-funded investment property income stream. We do that by showing you how to roll your IRA funds into these profitable real estate foreclosures, as well as short sales.
If you’re looking to find Pigeon Forge and Gatlinburg Tennessee foreclosure and short sale homes at great prices, you’ll find them with Eden Crest. We have all the experience needed to offer you true expertise in selecting profitable investment vacation rental homes, since we are leaders in vacation rental management as well.
It's a little hard to read that with the foreclosures you're being luck due to a bad luck of other person. But the truth is that this is really the point, it's exactly what happen!
Regards,
Tony
http://www.foreclosurewarehouse.com/
tonycartman – November 10, 2009 , 12:06 PM
It's a little hard to read that with the foreclosures you're being luck due to a bad luck of other person. But the truth is that this is really the point, it's exactly what happen!
Regards,
Tony
http://www.foreclosurewarehouse.com/
tonycartman – November 10, 2009 , 5:06 PM