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"Pre-Foreclosure Real Estate Investing: Flexible Opportunities For Good Negotiators"

It's no secret that real estate investing can be very profitable.  But did you know that you could make even more by concentrating on a specific type of real estate investing?  If you knew that you could find highly-motivated sellers who are desperate to sell their property at almost any price as quickly as possible, would you be interested?  This kind of situation is very possible in the realm of pre-foreclosure real estate investing.  Let's take a closer look and see what it's all about.

If a homeowner defaults on their mortgage and the lender moves to foreclose, it starts with the filing of foreclosure papers.  Foreclosure ends with public auction of the home or property.  But between filing and the auction is an opportune moment for real estate investors: pre-foreclosure.  If you're able to negotiate the purchase of a home that's in pre-foreclosure, it can be very profitable.

The foreclosure notice is a wake-up call for the homeowner.  Even if they've had their home on the market prior to the notice, they now have fewer alternatives.  They must sell their home to protect their credit and maybe profit a little, or they'll lose the house and walk away with nothing.  This often provides motivation for them to consider a new range of options.

In pre-foreclosure real estate investing, you normally deal directly with the homeowner.  Before the foreclosure process, you might have been dealing with an agent.  At the auction, you'll have to deal with the lender or their attorney.  Your best chance for profitable deal will be to negotiate directly with the homeowner.

Buying a home in pre-foreclosure is usually much more flexible in terms of financing.  The owner may be quite willing to consider several different forms of financing, even a sale "subject to" the existing loan.  On the other hand, buying property at public auction usually requires access to lots of cash and very quick financing.

Many investors involved with pre-foreclosure real estate investing have found that the lender may even be willing to negotiate a discounted price during the pre-foreclosure period.  Everyone is taking a chance on what will be offered at public auction, so the lender may be willing to deal with a known quantity.

Pre-foreclosure real estate investing usually means you'll have less competition.  If you wait for public auction, you know that you'll be bidding against the lender at the very least.  More attractive properties could even attract a crowd.  The best scenario is when you're the only investor that the owner chooses to contact.

At the same time, pre-foreclosure real estate investing is not a piece of cake.  You'll have a relatively short, specified period of time in which to complete the agreement.  The auction date will be a hard deadline.  Good organizational and time management skills are essential.  Also, homeowners facing the stress of foreclosure may not be the easiest people to deal with.  It will take some convincing on your part to assure them that you're simply there to provide a solution to their problem, not just to profit by it.

Pre-foreclosure real estate investment offers a lot of flexibility and a good potential for profit.  It's an excellent sector of the real estate market on which to concentrate.  With good focus and determination, along with some good negotiating skills, you should be able to complete some outstanding deals.

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