Many people are looking for real estate investing secrets to help determine what type of property to buy. Between the down economy and bank bailouts, investors need solid information about what types of properties are safe investments.
The first rule of thumb for locating real estate investing secrets is to get information from trusted sources. Some of the most reliable sources include Bruce Norris, Trump University, REIClub.com, CREOnline.com, and Realtor.com.
Creative financing used to be a highly regarded investment secret. Today, there are many so-called real estate gurus eager to sell reports and courses on how to buy a million-dollar property with no down payment or how to buy foreclosed, bank-owned, or short-sale homes for pennies on the dollar. . There is no need to invest money in these types of programs. CREOnline.com offers a large number of financing techniques through its website for free.
Many investors choose to buy distressed properties to use to remodel homes or rent homes. Word on the street is that these properties can make fortunes for savvy investors. While it’s true that fixer-up homes can provide a good return on investment, the secret to buying these homes is to buy them through private investors.
Experts recommend looking for private investors who buy bank portfolios. When investors buy bank-owned foreclosed properties wholesale, they get wholesale prices. They can then pass savings of 20 to 30 percent or more on to investors or individual buyers.
With the current number of foreclosures, mortgage lenders are sitting on billions of dollars in distressed properties. Loan criteria have become significantly stricter; particularly since the bailout of Fannie Mae and Freddie Mac. For investors to buy real estate in today’s unpredictable market, they will have to buy houses with cash or use creative financial techniques.
Perhaps the best kept real estate investing secret is buying probate property. Tracking down these properties requires a bit of detective work and a visit to the local courthouse. Very few investors are seizing the opportunity to acquire exceptional real estate in this way.
Probate estates involve real estate suspended at probate. When a person dies, everything he owns is held in estate until his estate is settled. The exception to this rule is when the decedents use a trust to protect inherited assets. In some cases, the probate can extend for several months or even years.
When estates do not have sufficient funds to maintain the property, estate administrators may choose to sell the home to remove financial burdens. Often, heirs will sell real estate well below market value in order to settle the estate quickly.
These are just a few real estate investment secrets. While it’s a good idea to be armed with inside information, it’s best to educate yourself on the art of real estate investing. Determine the type of investment property that best suits your needs. By narrowing down the type of properties you can afford, it will be easier to locate the investing secrets that apply to your chosen niche.