HOW TO BUY FORECLOSURES FOR PENNIES ON THE DOLLAR AND TURN THE FORECLOSURE INTO A MONTHLY OIL WELL THAT PRODUCES BIG PROFITS
I will buy 30 – 40 or so homes like this (buy foreclosures) in 2018. These houses may look like trash, but with a bit of knowledge you can turn them into TREASURE. Yes, foreclosures can be your GOLD
Let me give you an idea of what can be done with a foreclosed house like this and for what price you can pick up foreclosures for depending on your city
This foreclosed property was purchased for $28,000.
I will spend probably $10,000 on labor and another $5,000 – $10,000 on materials fixing it up. Rounded up, this house will cost me roughly $50,000 when it is all said and done. The final value? Probably $130,000 on the low to $160,000 on the high. To me, it really doesnt matter. What matters is the income that it will generate.
I WILL RENT IT TO MY GROUP HOME BUSINESS FOR $1,000 per month.
Market Rents would be about $1,200 / month
Whether you want to use foreclosed houses like this for your group home or care home business, rent them out, sell them on terms or flip them for cash –
YOU HAVE A LOT OF OPTIONS.
This website is dedicated to showing people like you how to set up and operate gr0up homes. One part of the wealth building formula that I teach is
FINDING FORECLOSED PROPERTIES
like this, fixing them up and then holding onto them.
Look, the houses dont even need to be foreclosures. They could be short sales or simply distressed property. Another secret is knowing WHERE to look. If you are in Los Angeles, chances are you are going to have a tough time finding foreclosures at the moment. The banks are holding onto them. So you need to look elsewhere. But once you find the location – AKA your farm area, you can find an ABUNDANCE of motivated sellers. Just remember, the window of opportunity usually doesnt last long. Heck, just look at Detroit!
In a nutshell, you need to learn how to market for these types of properties. After you learn how to find them, you need to learn how to fund them.
After that comes the HARDEST PART.
Learning how to fix them without getting taken advantage of.
YES. THE CONSTRUCTION ASPECT
This is where most people lose their asses. The final part is EASY. Renting, Selling or Financing them out.
I have compiled all of this in my step by step system. Continue checking in on the Blog or simply sign up for my FREE, 10-Step GROUP HOME COURSE
Questions? Comments? LET ME KNOW YOUR THOUGHTS or sign up for my free 10-part course below