Pre-Forclosure Homes: How to Profit From Real Estate in a Down Market

Beautiful Real Estate

As a person familiar with both investing and home improvement, I see this market as a time of reflection. Our past action have brought us to a point where many home owners are faced with loosing their home. Many homeowners are faced with losing their home without making a dime. There are many opportunities out there to buy homes. First time home buyers do themselves a disservice if they do not consider buying a home right now. Ideally with this market, you could find your dream deal and have moved in by or near the Christmas holiday season. You could buy a new home, but you should also consider Pre-Forclusers.

My stance at this time is not for the current home owners. I do not know exactly how you can save your home if you have reached the foreclosure point. Most predatory lenders that would have helped stopped foreclosures are no longer in business. There are a few that still operate, but their practices have changed drastically. My stance is for the first time investor that wants to lean more about the Pre-Foreclosure market. My stance is for the first time home buyer with decent or not so decent credit but has a desire to own a home. My stance is for the single mom living in an apartment that has no tax benefit from renting. My stance is for the millions of people struggling to just buy that first home. I hope and aspire to help them.


My background is in banking. I was a commercial and residential lender. I learned a great deal from banking. I also learned a great deal from training, I took everything from Carlton Sheets classes to real estate program. I learned a ton more from making mistakes. I played in the real estate market with little to no money. I also played in the real estate market with thousands. I’ve won and lost. In the process here are some of the tips I’ve learned that could help you make money now in Pre-Foreclosure Homes


What should you do first in the Pre-foreclosure home market to make money


Get a coach. It a simple rule but most people do not follow it. When you have a mentor or a coach involved you are more likely to do better than others. If you have a plan that you and your coach or mentor outline, you should stick to it. There is tons of money to be made in the Pre-foreclosure market. There is no need to go after every deal. You should get a coach, make a plan, and take action. My coaches have changed through out the years.


Some I still work with today. The fact remains you will need a coach that has more experience than you in the industry to help guide you through troubled times. Some coaches come at no cost. Some coaches charge thousands of dollars for their expertise. If Phil Jackson came to coach my sons’ team for $100,000 it would be a bargain. If someone that is a first time coach want to coach for the same $100,000, it would be a risk. Get an experience coach that can help you achieve you dream Pre-foreclosure market championship. A great pair off coaches I’m aware of are Vicki And Lloyd Irving. They have helped many of their student achieve phenomenal success in short periods of time.


How do you start in Pre-foreclosure Home Market to make money


Read everything. You can not learn enough about the business. There are many books an periodicals on the subject. Once you have coach and a plan, you will have material to learn. You might have a boot-camp to attend. Regardless, you should pick up ever book you find on the Pre-Foreclosure and Short Sale market. Each book your read on Pre-Foreclosures might have a tidbit of information that helps you move forward.


The more you read, the more you should act upon. The fact is knowledge is great but applied knowledge makes a world of difference. You might know how to cook, but until you get in the kitchen to make breakfast you will sill be hungry. As long as you learn and apply the knowledge you will grow in the Pre-foreclosure market.


Biggest Key to make money in th Pre-Foreclosure market that will make you money


Be creative. Donny Deutsch said it best “You will get what other won’t because you do what other don’.” In this business, creative people make a killing. People that think outside the box and are willing to ask. One of my favorite sources for online creative ideas is I’ve gone to CreOnline for both contract and information purposes. I live online and use every resource to continue my learning.


You should consider, taking over payment of those whom have a mortgage that is assumable. In some cases the mortgage might be $3,000 a month. The owner is $9,000 behind, and you have less than $20,000 in fix up cost. The current home owner simply wants to get out of the deal. I have seen a person with this case in a $500,000 home. They simply wanted to give to the investor for $300,000. With the right coach and plan, this deal would be a slam dunk. I’ve seen people trade a bike a boat and a truck in for a car. You could do the exact same thing for a home, some home owners will accept other assets for their equity. If they can was away with something it is better than nothing. Some home owners will take a second for their equity if they can move on and out of the house. Again, as long as you are creative you can get many deals done.


Big picture, the Pre-foreclosure market is one where there is money to be made. If you have an exceptional coach, you learn all you can, and stay creative you will be successful. God Bless and good luck in the Pre-Foreclosure market.

Real Estate Buyer Beware: Note Buying Scams on the Rise

Loan House

Well-off people who sell their homes sometimes decide to hold the mortgage for the buyer. This means that instead of the buyer writing monthly checks to the mortgage company, they write them to the previous owner. This can a good way to add diversification to your investment portfolio if you don’t need the money right away and have a significant amount of assets. These people are now receiving an unusual number of calls from people who are offering to buyout their note for 70 to 90 cents on the dollar.

The note-buying business is actually a legitimate business; however the people making these calls are victims of the latest dare-to-be-rich scheme. These people get suckered into coming into some hotel ballroom or convention center type event, pay a substantial fee to come, and then hear about how they can get rich by buying owner-held mortgages at a discounted rate.


The idea is that many note-holders might be more willing to part with the mortgage they either need the money, or don’t think the mortgage is no longer a solid investment. The note-buyer comes in, purchases the mortgage, and collects the principal and interest and comes away with a significant gain.


The problem with the pitch is that the note-buying market is not big enough to support all of the people who are signing up for the program. There’s maybe a market big enough for a couple of hundred people in the entire country who really know their stuff and professionals in the business. There’s just not enough notes for everyone to buy, and the people who actually know what they’re doing and don’t just go to a class in a hotel ball-room will be the ones making the real money.


Many of the people who attend these dare-to-be-rich seminars are also not in a financial position to get into the note-buying business. Quite often they are using borrowed money to pay for the notes that they buy, which ads a significant amount of risk to their life. If one of the people that they have given a mortgage to suddenly decide to stop paying, they’re in real financial trouble. If you’re not worth at least a million dollars, chances are having one mortgage note worth $200,000 is not the right thing to do. That’s like investing $200,000 into a single stock. There’s just too much risk there for it to make any possible sense. Investors need to keep a diverse portfolio and not make investments that make up a majority of their net worth.

My Experiences with the Housing Market As a Buyer and a Real Estate Professional


Is the housing market in the toilet? Yes it is, for some people and for others, there’s a rainbow at the end of the tunnel. You just have to be brave enough to walk the path.

I remember a time when a 3 bedroom, 2 baths Cape Cod sold in Union, NJ for $130,000. That was 10 years ago right before the market took off and homes values appreciated at a rate of 20% or more in some areas. What caused this unnatural appreciation? I attribute it to three things: Investors, Americans desire for immediate gratification, and the internet.


10 years ago, the economy was good; unemployment was low and people had money. Bill Clinton was in office and he was for all intents and purposes, he was a domestic president. Then came the widespread use of the internet, which change the way people communicated with each other and the way in which people accessed information. Ergo, people were reminded that real estate is probably the only investment that continues to be a smart investment, even in this depressed market.


Investors, who were sour after the dot come burst, found a new avenue to make good money quickly. They bought/built homes, fix them up or rented them, and in some cases they resold them quickly for huge profits. Life continued like this several years. And in the midst of all this buy, fix and build era, Americans were seduced by attractive and swift marketing. People began searching for properties online; in some cases, the Average Joe got it into their heads that if I follow these steps as outlined by real estate gurus like Carlton Sheets, I too can make money. Thousands of people made money this way and life was good.


Banks had relaxed their lending practices to keep this good market going. They gave loans to people with questionable income and in some cases, they did not verify it. Banks provided loans with teaser rates, adjustable rates/and or interest only plans and they persuaded people to have confidence in the market. They were banking on the market continuing to appreciate. As the old adage goes, all good things must come to an end.


August 2005. 10 years after a housing boom. Gas Prices go up and the market started too swift. Properties were taking longer to sell. Sellers had to reluctantly start to reduce their prices so that they could move on with their lives. Investors got nervous and bought less property. First time home buyers saw interests rate creep up a bit and since the prices of properties were not coming down, they were priced out of the market. The market was at a bit of a stand off.


August 2007, Sellers realized that they had to make an adjustment; they reduced their prices and started making home buying affordable again.


So who are the people who are in trouble? Its people who

Were/are victims of predatory lending: they were given a teaser rates and/ARM’s that they could not afford when the rates adjusted. Its only predatory if the bank representative/mortgage broker did not explain the loan. Although one could make the argument that it’s the buyer’s responsibility to read the fine print.    Applied for sub prime loans i.e. 100% financing and had high debt to income ratios to begin with and did not calculate taxes, PMI or the cost of living into their housing expenses.    Purchases interests only products within the past 3-5 years and banked on the market appreciating. They might not be able to sell their home for much more than what they paid for it.    Experience/Inexperience investors with vacant properties and no buyers/renters in the market.    People who used their homes like cash register and took out 2 or 3rd mortgages.    Lenders who are holding on to these questionable mortgages and defaulting borrowers. They may now have to play Let’s Make a Deal.

Who are the winners in this type of market?

Sellers who have owned their homes for at least 10 years assuming they have not already taken the equity out of their homes.    Buyers with good to decent credit (620 plus). The house that the neighbor bought for $400,000 might cost a new buyer $379,000 for a home of similar makeup and style.    Banks because people will continue to buy; banks will just have to be more weary of who they lend money to.

The next couple of years may not be the golden years of real estate, but the invisible hand will correct matters and maybe in another 12 years, we might encounter the same cycle. Hopefully, everyone will remember these years and not make the same mistake.

How to Resist the Lure of Real Estate and Make a Schooled Decision

Real Estate

The Lure

The thought of Real Estate brings to mind dreams of riches and power. The lure to own property is enticing and powerful in that land and property are seen as being the everlasting all time business investment. While this may be true, everything isn’t always coming up roses in this market. Resisting the urge to follow the rest of the “fish” in the pond may seem to be foolish until you understand exactly what you may be getting yourself into.


There are at the very least, three different viewpoints that you can perceive the real estate market from. Each view can be a singular view or a view with multiple panoramas. This article covers some of the basic pros and cons of each position you can take if you do decide to get involved in the business of land and property ownership, (flipping), buying, selling and mediating (agent).


Note: In a low interest market with high interest rates you can sell your home every two years to make a profit. Use the profit to buy a better house and repeat your steps until the profit margin is where you want it to be.


The Reel


The main attraction of buying real estate is that it is usually an extremely appreciable asset. Even in harsh financial times, real estates proves to be the bread winner of many major industries.




As a buyer you may have complete control to buy as you wish especially you own a real estate agency or fianancial institution.


As a sell by owner oprerator you may have complete autonomy to sell as you wish unless you are an agent.


As an agent you forego many of the hassles inherent to buying and selling and keeping to the ideals of your agent training.




As a buyer you may have to contend with many factors in order to make a purchase, such as taxes, paperwork, financing, inspections, and other legalities.


As a seller you must face the fact that you may not get your asking price or find that you must sell sooner rather than later depending on the market and your own financial status. You should make it a point to find out exactly what your property is worth.


As an agent you are subject to the whims of buyers and sellers whether you are independent or not. If you are an independent agent you must deal with the business matters that will result in you running your own business as well as keeping up with any industry affiliations that you belong to.


Making a Schooled Decision


Before making a choice as to whether you want to enter the real estate market, decide which role or combination of roles you will play. Devise a goal and create a plan based on that goal, only after careful and meticulous research into the market and its niches. Ask pertinent questions of others who have the information and experience you are trying to gain what there most common problems were and are and how they solved them or plan on solving them. Most of all, keep learning everything that you can about your chosen field. Remember, if it sounds to good or easy to be true, it most likely is. Anything worth having, especially success, is hard earned and not easily gained.


For more detailed information on real estate go to


Shinnelle L. Queensbury is a work at home mom who varied interest inspires her involvement in many activities. Visit her blog at for a lighter and less serious touch of writing.

5 Key Things to Learn Before Investing in Real Estate

Investing in Real Estate can be profitable. It can also get real ugly, real fast too. You just have to know what you are doing. Like in everything else, you need to know what to avoid. There are countless stories of investments gone wrong; The stories of the landlord that could not manage his property or the couple that ran their well dry because they rushed into investments.

Thereby, if you wish to enter the wheeling dealing world of real estate investment, you should not be entering it all blind eyed or with blind optimism for that matter. There are a lot of good deals out there at the moment, but there are some bad ones that will cripple your finances. In this article you will find 5 of my key learnings from my exposure to real estate during my time working in the bank and my own personal experience.


First and foremost, this will be your full-time job. I do not mean that it will consume all your time and that you do in life. You just to be aware of all your opportunities and be prepared to grab them. Real estate is knowing about you opportunities and follow through. You never know who your next client will be. You need to build your network and the most basic thing you need is to have your business card on you all the time. No one can sell their property to you if they cannot contact you or buy that lovely little property that you have on hand.


Rentals may give you continuous cash flow, but you may have to consider the various type of complaints that the tenant come to you for. Tenants will come for you for everything under the sun, from blocked toilets to noisy neighbors and they have the right to do so. You may have a management company running things for you, the tenant will always come to see you in the end. After all, you are the person that rented the place out to them and not the management company. There are so many laws that protect the tenant’s rights, just be mindful that you may end up paying more than you are getting.


When hiring a contractor, take one that charges by the job rather than the hour. Unless you plan to oversee the project for the whole duration, it is more likely than not you will be paying more than you bargained for. Ensure that you sign a contract with a must be completed by clause. The very least, you will get some compensation in the form of discount or penalty payments if the contractor does not complete in the stipulated time.


This is common sense, but always make a thorough inspection of the property before purchase. The repairs that need to be done to the property need to be lower than the profit that you intend to make. Foreclosure properties that the bank get, may be very good investments. You may get them for cheap and you are allowed to inspect them beforehand.


Finally, take the advice from someone that does not invest in property with a pinch of sale. They might say that they know where the next big thing is, but they would not know the pitfalls of investing in property until they do. They will sometime make an emotional case for it and you would be sucked into the hype. Before you know it, you will have a piece of property that is depreciating faster than a third world country’s currency.


These are just a few of my learnings and I am still learning. There is still a lot that I have to learn. Hopefully, the 5 learnings that I have will help you along the way to becoming a great investor and to give you food for thought on some the aspects of real estate investment.

Real Estate Repo Tour: Broken Dreams at a Bargain


Bill Dwyer, a Medford Oregon realtor wants to show you the latest foreclosed homes in the Rogue Valley. In California, they are calling them “Repo Tours”, but Bill chose a softer name, “The Tour of Hot Deals”. On specified weekends he fills up a tour bus with prospective buyers or “repo tourists”, feeds them lunch and shows them several homes with loans that are priced below market value. The tour lasts several hours.

He says there is no pressure. “We want everybody to kick back and have a good time.”


It is becoming a growing trend as the real estate market has plummeted. On one hand foreclosures and the downward drag on real estate prices is bringing affordability back into the housing market, but the other side of that coin are the people losing their homes due to job losses, and a repressed economy.


For buyers, a repo tour is an opportunity to see multiple properties in one afternoon and perhaps find something they care to buy. The realtor is right there to answer any questions you might have. The downside is having to see homes you are not interested in at the same time. Foreclosures often need repair, but for someone with the time and money needed to make improvements could possibly be tantamount to a bargain.


Although the bus gimmick is relatively new, hyping up foreclosures is not. Salespeople have used late night infomercial to advertise government and privately owned foreclosures for years. For a fee some will sell you information on how to find foreclosures and how to “flip” or sell them for profit (or loss, as many home buyers would attest to). Across the United States, realtors are looking for new ways to entice buyers at a time when many people view buying real estate as a risk. Realtors are simply doing what they have to do to attract new buyers to sell homes to. Some think of it as creative marketing. So far, it is exclusive to realtors–car dealers are not bussing people to see car repos. Could this be the future of real estate?


According to, Medford Oregon real estate sales are down 11.5% and are predicted to continue as more homes head into foreclosure.


Not everyone shares Dwyer’s vision.


“Is this what we’ve come to,” wonders Nick Williams. “A tour bus brings an air of joviality to what might be someone else’s broken dream. There is something inherently wrong with that.”



Housing Predictor LLC, Housing Predictor Independent Real Estate Market Forecasts,

5 Simple Steps to Starting a New Career in Commercial Finance and Real Estate Investing


Have you ever heard of a business that you could operate from home, work part-time, and easily earn 5 to 6 figure income from each effort? I have and it is commercial financing and real estate investing. Like most entrepreneurs, I have experienced the gamut of business opportunities. From multi-level marketing, independent distributorships, and mortgage banking to residential real estate investing, club  amp; concert promotions, and more. I have seen my fare share of success and failure in business, but along the way I have learned there were some things I would prefer in my future ventures.

My “wish list” developed as I gained a better awareness of what type of lifestyle I wanted to lead. I found that I preferred a business capable of building multi-generational wealth, that was not time or labor intensive, and relatively easy to learn. Also, I desired a business that could be operated anywhere, with little to no staff, and did not require excessive startup expense. For me (and many other entrepreneurs), the ultimate life would be 100% stress free, spent traveling and enjoying time with my loved ones.


Commercial finance and real estate investing is the one business opportunity that meets or exceeds my “wish list” requirements in a business, and can create a lifestyle that most people only dream of having. Whether you are an experienced CEO-type, a stay-at-home mom, or a college dropout, brokering commercial money and/or investing in income-producing commercial properties can be done on a part-time, “as money’s needed” basis and leads to 100% debt-free living. Just imagine- for every $1 million in financing brokered, you earn $10,000.00 in commission.


Now, many naysayers will tell you that you need a real estate degree or a MBA in Finance to broker commercial money or invest in commercial real estate- but that simply is not true. Others will also tell you it is so hard to get started or only “certain” kinds of people are successful in this business, and that is a lie told to bully you from believing it is possible or even trying. I do admit it is not for everyone, but let me be brutally honest- the only thing I know that’s good for everyone is air and water.


So, what actions must you take to begin a new career in commercial finance and real estate investing?


  1. Make the decision and take ACTION! Every physical “thing” in existence began as a thought and became a decision. Your decision will manifest in your life as action taken towards your chosen goal. But, you must first decide what you want and what exactly you will do to get there.


  1. Do your research. Learn what is out there for investors and where you want to be in the transaction. Money is made by providing solutions and you need to decide what problem you would like to solve.


  1. Become active in a local group or online forum that specializes in commercial real estate investing  amp; finance. Talk to other investors and money brokers to find out industry standards and possible pitfalls. Call lenders to determine what traits the most successful money brokers share.


  1. Study how other money brokers  amp; investors develop leads. Rank each strategy and select the strategies most suited to your circumstances. If you can afford to place an ad in a prominent industry magazine or website- DO IT. Also, contact commercial real estate agents and brokers to find out how they work with financiers/consultants.


  1. Setup your “office”. You will need to file any necessary paperwork to setup your business entity or DBA. Also, you need a dedicated business phone number  amp; fax machine (or service). It is also a good idea to have a website.


By following these steps, you can develop a few key relationships that will have a lasting impact on your business. If you are lucky, you will meet someone willing to mentor you through the process and hold your hand when you are scared. At the very least, you will have created a multi-tiered referral system of industry professionals and acquaintances and will be well on your way to your first million dollar commission check.

The Economic Impact of High Risk Investing


My husband and I live in Miami. This was a hot real estate market just two years ago–white hot. The one bedroom condo that my husband had purchased just a couple years before doubled in value. Expecting our first child, we needed more room. Fortunately for us, real estate was moving fast and mortgage brokers were giddy with big commissions.

Unfortunately for us, when real estate is moving quickly, it’s considered a sellers market. In a sellers market, eager buyers are competing for the same property making it difficult to get a contract much less a great deal. Pre-construction homes were selling out in hours with buyers waiting in line for days. Determined to find just the right house, at just the right price, we celebrated our daughter’s first birthday just days after moving into our new home. Getting the mortgage was easy; it was outbidding the other buyers that proved to be difficult.


Then the market cooled. The amateur investors who had been driving the prices up panicked. Sell! Sell! Sell! It was like watching online investors dump everything when the stock market has a bad day. What some might call a housing slump, others viewed as a dive.


Amateur investors operated under the false assumption that the Miami real estate market was a sure win. Watching their friends and neighbors make money hand over fist (and lulled into false expectations by 30 minute real estate shows) amateur investors over extended themselves to cash in on the lucrative “real estate flip”. Flipping is the practice of buying a property, making minimal upgrades and reselling for a profit. Flipping is also the term used when investors buy at pre-construction prices and then resell once the property is ready for occupation.


Many of these amateur real estate investors signed high, interest only loans to keep the payments low while they negotiated a quick turn over. Often they would sell to a new investor, who was confident the market would go even higher. Many of these individuals signed multiple mortgages with high risk lenders.


When the housing market went into a slump, buyers (mostly amateur investors who where no longer interested) stopped competing for contracts. As a general rule, homeowners aren’t really fazed by housing slumps. Like investors who hold stocks long term, they can ride it out. If now is not a good time to sell, they simply take the sign down and wait.


For amateur investors, a housing slump can be their worst nightmare. Generally, amateur investors can not afford to pay a full mortgage on their investment properties. When the market begins to cool, when head lines read “housing bubble about to burst” they need to get out fast. The sell, sell mentality drives the market down as “for sale” signs go up.


When the neighborhood is littered with for sale signs, buyers realize the market has changed in their favor. The property feeding frenzy comes to an end. Welcome to the housing slump.


But it gets worse. The housing slump also creates a renters market. Amateur investors desperate to at least rent the homes they can no longer sell must compete against each other, often renting below the monthly mortgage just to offset some of the cost.


Unable to sell their investment properties, or even keep them rented, some over extended investors find themselves in foreclosure. The flood of foreclosures drives the market down even more, and the high risk lenders who founded it all are faced with bankruptcy.


This down turn has little effect on professional investors. Although the value of their portfolio might take a temporary hit, unless they’ve over committed their resources, they’ll be able to ride out the housing slump just like the average home owner. It’s the investors who took the biggest risks that are now in the biggest trouble, stalling the market for everyone.

Subprime Mortgage Crises Could Hurt Many More Than Those in the Real Estate Market


The news has been filled with reports about foreclosures and bankruptcies due to subprime mortgages that were signed in previous years. Everyone knows this is affecting the housing market. What they fail to realize is the other effects it is having on other industries. With the crisis that is facing the housing industry there has been a trickle down affect to many other markets. The effect has been severe enough, that in general Americans are looking to spend less in the coming months. This could be bad news to retailers with the holiday shopping season just around the corner. This information was provided in a recent press release from TNS.

As the housing market suffers, many times it is a predictor of the overall financial spending of consumers in the country. The survey conducted by TNS indicates this assumption is likely to be correct once again. The survey was conducted from September 20th through the 23rd and included 2,500 adults in the United States over the age of 18 years old. The results are not encouraging for the upcoming holiday spending season.


Overall, one out of every three adults were planning on cutting back on spending in the coming months based on the subprime mortgage crisis. Areas that many people are considering cutting their spending the most in are home improvement and furnishings, travel and entertainment. Survey participants also indicated they are expecting to reduce their purchases in the technology sector of products.


Parents are planning on cutting back on luxuries but still support the education of their children. Over one out of five parents expect to cut their spending in home improvements (23 percent) and travel (21 percent). Parents will not be cutting on the savings they are putting away for their children’s education. Only 2 percent of the survey participants said they would reduce the amount of money they would spend on their children’s education.


So, what are the survey participants blaming for this need for a reduction in spending. The large majority feel the economy has been hurt by the subprime mortgage lenders, and feel that those organizations have creasted this crisis. 70 percent of the survey participants felt that way. Meanwhile sixty percent of the participants also names the real estate and housing industry as a whole as responsible. Survey participants also thought the subprime borrowers and investors had large roles to play in this situation as 58 percent laid the blame on the borrowers and 57 percent on the investors.


Overall 76 percent of the survey participants felt this subprime mortgate crisis was as sever as the dot-com issues and how they affected the market at the end of the last century. If this is true, then it is becoming clear that the upcoming holiday spending season will see Americans being much tighter with their budgeting and their hard earned money.


SOURCES: “New Study From TNS Reports One-Third of Adult Americans Plan to Cut Back Spending Due to Subprime Mortgage Crisis”.

URL: STORY;=/www/story/10-15-2007/0004681884 EDATE;=

Investing in Real Estate – Start Out Small


Investing in Real Estate has been known as bringing in a great return on your money. Many people have monthly income coming in from owning then renting out the real estate. If you have several homes that you rent out every month you have quite a bit of money coming in every month. Not only will you be getting a monthly income from the rental monies but also the real estate is hopefully rising in values. You can buy a mobile home and land in some areas for under $25,000.

There are ways that you can start out owning real estate even on a small budget. It’s something that many people don’t even consider. But it’s mobile homes. Mobile homes are inexpensive and many people live in them as inexpensive homes. They are now built on permanent foundation and if they are on land as a permanent home the values really aren’t decreasing as quickly as they did at one time. Sometimes you can buy a fixer-upper mobile home for next to nothing, as the young couple had only purchased it to live in while saving for a home when they buy their home they will sell the home just to get rid of it. This can be a great savings for you. You can many times buy the homes already set up on land in neighborhoods or mobile home parks for less than it’s worth.


Some mobile homes that you buy will need some work, which can be as easy as laying tile floor, or just painting and putting down carpet. This is basically cosmetic work that won’t cost allot of money or take much time but can be a great payoff for you. Since you don’t have allot of money tied up in the real estate you can use the money that you saved to fix it up and resell it or just rent it out.


It is fairly easy to find renters to rent your property. This will give you the monthly income every month that you won’t have to turn around and pay a huge mortgage note with that money. Since you have picked up the land and home for very little money the monthly income will be going to you. Rent for mobile homes are usually a little less than an apartment and way less than a home in the area. So it’s easy to find potential renters quickly.


Finding financing for homes that you don’t live in can be difficult especially for mobile homes, so you may want see if the sellers would consider owner financing if you don’t have the cash to pay for it. Buyers may consider this option to move on with their lives and sell quickly. If you have cash that you can use to pay outright you have a better chance to get a better price.


While buying and investing in mobile homes may not be for everyone, it can bring you a great income monthly for very little cash and get you started in the real estate market.