Foreclosures Auction in Los Angeles- Get the Cash
Posted under: Home Buying in Los Angeles County,
Financing in Los Angeles County,
Foreclosure in Los Angeles County
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February 11, 2012 8:15 AM |
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How to get the cash to Flip foreclosures in Los Angeles!
Many Real estate investors and real estate agents are looking at buyers flipping foreclosed properties every day, but how do they get the money to buy foreclosures in the auction?
most real estate investors that are going to foreclosures auctions don't have most of the money, but because they want to get in the game and start making real money flipping properties they are willing to consider other Alternatives "Hard money Loans".
Did you ever go to a Foreclosures Auction?
If you did go, did you see all these lenders passing out flyers and offering financing?
These are hard money lenders. They will help you get most of the money to purchase Foreclosures in the auctions and start flipping properties.
So you really don't need $300,000 to purchase a foreclosure, but you do need some money to show these guy that you are serious about your purchase and you will not let this property go.
Foreclosures Auction are the way to make you big money if you know what you are doing. It is really easy if you know real estate. Most new real estate investors we see in the auctions are real estate agents that are just tired of looking at their clients making all the money and they are making only 3% commission.
If you don't know anything about financing, let me tell you why it is so easy for you to flip the property right away after you purchased it from a Foreclosures Auction:
The way you make the money if reselling the property to a person that will get FHA Loan. He will purchase a nice property to his family for a premium because he will get 97% financing and put 3 other family members on the application to qualify. That is the secret for fliping foreclosures these days.
Here is an example:
Mr Salinas is looking for a home in his neighborhood and he know there are foreclosures around, but they are all "cash offers" only. The house that he want to purchase goes for $250,000, but the value of this property is $350,000. Mr Salinas doesn't have $250,000 in his pocket, but he does have $20,000 and he is really interested.
You(as a real estate investor) can purchased this property for $250,000 with having only $100,000 in your pocket(The rest of the money a hard money lenders will help you to get). Then you will pay some contractors to remodel the property for another $15,000 and resell it to Mr Salinas for $350,000. Now Mr Salinas have the option to purchase the property using the $20,000 he saved and in order to qualify he can put his sister, mother and son on the application.
In this scenario you made more then $50,000 in less then 4 months and Mr Salinas got a nice house for his family and made his dream come true.
Got the idea???
Purchase a Foreclosures in an Auction Today! www.HardMoneyLoans.org
Many Real estate investors and real estate agents are looking at buyers flipping foreclosed properties every day, but how do they get the money to buy foreclosures in the auction?
most real estate investors that are going to foreclosures auctions don't have most of the money, but because they want to get in the game and start making real money flipping properties they are willing to consider other Alternatives "Hard money Loans".
Did you ever go to a Foreclosures Auction?
If you did go, did you see all these lenders passing out flyers and offering financing?
These are hard money lenders. They will help you get most of the money to purchase Foreclosures in the auctions and start flipping properties.
So you really don't need $300,000 to purchase a foreclosure, but you do need some money to show these guy that you are serious about your purchase and you will not let this property go.
Foreclosures Auction are the way to make you big money if you know what you are doing. It is really easy if you know real estate. Most new real estate investors we see in the auctions are real estate agents that are just tired of looking at their clients making all the money and they are making only 3% commission.
- Now real estate agents can get in the game, they can buy and flip foreclosures. You buy cheap, remodel and resell for a profit.
If you don't know anything about financing, let me tell you why it is so easy for you to flip the property right away after you purchased it from a Foreclosures Auction:
The way you make the money if reselling the property to a person that will get FHA Loan. He will purchase a nice property to his family for a premium because he will get 97% financing and put 3 other family members on the application to qualify. That is the secret for fliping foreclosures these days.
Here is an example:
Mr Salinas is looking for a home in his neighborhood and he know there are foreclosures around, but they are all "cash offers" only. The house that he want to purchase goes for $250,000, but the value of this property is $350,000. Mr Salinas doesn't have $250,000 in his pocket, but he does have $20,000 and he is really interested.
You(as a real estate investor) can purchased this property for $250,000 with having only $100,000 in your pocket(The rest of the money a hard money lenders will help you to get). Then you will pay some contractors to remodel the property for another $15,000 and resell it to Mr Salinas for $350,000. Now Mr Salinas have the option to purchase the property using the $20,000 he saved and in order to qualify he can put his sister, mother and son on the application.
In this scenario you made more then $50,000 in less then 4 months and Mr Salinas got a nice house for his family and made his dream come true.
Got the idea???
Purchase a Foreclosures in an Auction Today! www.HardMoneyLoans.org
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