My regards to the community, I would be seeking your advice on some matter. I have some interests in real estate and have read that foreclosure is an efficient way to gather up profits. I would like a little more thought on this…as to how does the whole thing work and how can we invest properly in pre-foreclosures to earn secure profits.
Can anyone explain me about foreclosure real estate investing?
- Thread starter Adamsmith
- Start date
Hi Adam, try a search on this. There were detailed posts on this in the last week, and in the many others in the months before that.
QUOTE (Adamsmith @ Jun 4 2008, 11:57 AM) My regards to the community, I would be seeking your advice on some matter. I have some interests in real estate and have read that foreclosure is an efficient way to gather up profits. I would like a little more thought on this…as to how does the whole thing work and how can we invest properly in pre-foreclosures to earn secure profits.
QUOTE (Adamsmith @ Jun 4 2008, 11:57 AM) My regards to the community, I would be seeking your advice on some matter. I have some interests in real estate and have read that foreclosure is an efficient way to gather up profits. I would like a little more thought on this…as to how does the whole thing work and how can we invest properly in pre-foreclosures to earn secure profits.
Hi Adam,
Welcome to the community! If you are looking for more information on foreclosure there are a few people who may be able to help.
For BC specific information feel free to contact myself or my company at http://www.foreclosurelist.ca
For Alberta specific information I would contact Wade Fenner` company at http://www.foreclosurescanada.com
If I can be of further assistance with your success feel free to contact me, I would be happy to help.
--
Kap Hiroti
BC REIN Member
President - DealSpeak Inc.
Phone: (604) 323-0623
Fax: (604) 357-1547
Website: http://www.kaphiroti.com
Welcome to the community! If you are looking for more information on foreclosure there are a few people who may be able to help.
For BC specific information feel free to contact myself or my company at http://www.foreclosurelist.ca
For Alberta specific information I would contact Wade Fenner` company at http://www.foreclosurescanada.com
If I can be of further assistance with your success feel free to contact me, I would be happy to help.
--
Kap Hiroti
BC REIN Member
President - DealSpeak Inc.
Phone: (604) 323-0623
Fax: (604) 357-1547
Website: http://www.kaphiroti.com
Just spend some time at Land Titles, and you`ll find the properties that are being foreclosed.
Foreclosure investing is really hotting up the scene nowadays. As more and more people are clearing off the debts by their property sale…..its a good way to capture some profits and quick ones too. Foreclosure profits are not only earned quickly but they are easy to earn also provided you know a foreclosure system. You just need a proper plan and way to go about it and then you can be good at judging the circumstances.
Foreclosures are a good way to earn money and when you invest in the market, you should have proper understanding about the scenario of the market. There are many things that come into account before considering investments in real estate and the most important is the knowledge of the investment you make. It would be beneficial to appoint a good realtor and then go with the investment. You can opt to invest in Saint Paul region and can consider the best Saint Paul Realtors for the job
QUOTE (estateinfo @ Nov 19 2008, 03:34 AM) Foreclosures are a good way to earn money and when you invest in the market, you should have proper understanding about the scenario of the market. There are many things that come into account before considering investments in real estate and the most important is the knowledge of the investment you make. It would be beneficial to appoint a good realtor and then go with the investment. You can opt to invest in Saint Paul region and can consider the best Saint Paul Realtors for the job
Foreclosures in Canada are an entirely different game than the US, so make sure you understand how it works. They don`t go to auction here and they usually sell for full price by the time they have made it to the MLS. You would need to use Kap`s or Wade`s lists to find the properties that have started to show up in court.
You can also go to the court house and pull your own lists, but it can be a pretty expensive proposition as you have to pull 20 plus titles per week (at least in Calgary region). You have to do the research to find the case #`s first, then have all the files pulled. Of all the files you receive 90% will probably be resolved leaving a couple out of twenty that would be viable. Of those two, you can then compete with the other hundred plus people competing for the one or two properties. Of course it just takes one or two a year to make it all worthwhile. Just remember, if it was easy, everyone would be doing it!
Foreclosures in Canada are an entirely different game than the US, so make sure you understand how it works. They don`t go to auction here and they usually sell for full price by the time they have made it to the MLS. You would need to use Kap`s or Wade`s lists to find the properties that have started to show up in court.
You can also go to the court house and pull your own lists, but it can be a pretty expensive proposition as you have to pull 20 plus titles per week (at least in Calgary region). You have to do the research to find the case #`s first, then have all the files pulled. Of all the files you receive 90% will probably be resolved leaving a couple out of twenty that would be viable. Of those two, you can then compete with the other hundred plus people competing for the one or two properties. Of course it just takes one or two a year to make it all worthwhile. Just remember, if it was easy, everyone would be doing it!
Hi Adam;
I have an article from Canadian Real Estate magazine that I can send to you. I thought it was pretty good - and outlines both pros and cons on investing in bank sales. I can`t seem to figure out how to attach it to this reply - but would be happy to e-mail it to you.
If you are looking in Kitchener-Waterloo, Ontario for this type of property, I can help.
Mike Milovick
Prudential Grand Valley Realty
(519) 745-7000
My regards to the community, I would be seeking your advice on some matter. I have some interests in real estate and have read that foreclosure is an efficient way to gather up profits. I would like a little more thought on this…as to how does the whole thing work and how can we invest properly in pre-foreclosures to earn secure profits.
I have an article from Canadian Real Estate magazine that I can send to you. I thought it was pretty good - and outlines both pros and cons on investing in bank sales. I can`t seem to figure out how to attach it to this reply - but would be happy to e-mail it to you.
If you are looking in Kitchener-Waterloo, Ontario for this type of property, I can help.
Mike Milovick
Prudential Grand Valley Realty
(519) 745-7000
My regards to the community, I would be seeking your advice on some matter. I have some interests in real estate and have read that foreclosure is an efficient way to gather up profits. I would like a little more thought on this…as to how does the whole thing work and how can we invest properly in pre-foreclosures to earn secure profits.
QUOTE (MikeMilovick @ Nov 21 2008, 09:19 AM) Hi Adam;
I have an article from Canadian Real Estate magazine that I can send to you. I thought it was pretty good - and outlines both pros and cons on investing in bank sales. I can`t seem to figure out how to attach it to this reply - but would be happy to e-mail it to you.
If you are looking in Kitchener-Waterloo, Ontario for this type of property, I can help.
Mike Milovick
Prudential Grand Valley Realty
(519) 745-7000
[email protected]
Hey Mike what month was that article in the magazine?
Or you could just email it to me as well - Thanks.
I have an article from Canadian Real Estate magazine that I can send to you. I thought it was pretty good - and outlines both pros and cons on investing in bank sales. I can`t seem to figure out how to attach it to this reply - but would be happy to e-mail it to you.
If you are looking in Kitchener-Waterloo, Ontario for this type of property, I can help.
Mike Milovick
Prudential Grand Valley Realty
(519) 745-7000
[email protected]
Hey Mike what month was that article in the magazine?
Or you could just email it to me as well - Thanks.
Hi Guys,
Thanks for informative posts.
I`m newbie here and I didn`t know exactly about the foreclosure in real estate investing.
Hope, I will get to know much more on this discussion board.
__________________
Sam Thomas
Buyers Agency: Your hard line Edge in Real Estate
Thanks for informative posts.
I`m newbie here and I didn`t know exactly about the foreclosure in real estate investing.
Hope, I will get to know much more on this discussion board.
__________________
Sam Thomas
Buyers Agency: Your hard line Edge in Real Estate
Hi,
A really good book I read on the topic is:
"The Pre-Foreclosure Property Investor`s Kit, How to Make Money Buying Distressed Real Estate Before the Public Auction", by Thomas J. Lucier.
I strongly recommend reading it although it is not Canadian specific but US. The reason is a lot of the process and ideas are in common with any foreclosure regardless of location.
Good luck,
Neil
A really good book I read on the topic is:
"The Pre-Foreclosure Property Investor`s Kit, How to Make Money Buying Distressed Real Estate Before the Public Auction", by Thomas J. Lucier.
I strongly recommend reading it although it is not Canadian specific but US. The reason is a lot of the process and ideas are in common with any foreclosure regardless of location.
Good luck,
Neil
WadeFenner
Inspired Forum Member
Hi Adam,
First off I would like to thank Kap for the referral..... Thank-you Kap,
Hi Adam,
If you have any specific questions I would be happy to help you out.... Just send me a direct question etc........ In the meanwhile check out my website... www.foreclosurescanada.com ..... I specialize in Alberta as Kap does in BC.....
Be aware of another company online who has a very slick looking website and has examples that look too good to be true..... get referrals before you spend any money online....
Yes investing in foreclosures takes work..... so does a job..... as well as investing through any other method..... If you`re looking for motivated sellers you might as well start with a crowd of people who "ought to be" highly motivated....
Cheers,
Wade Fenner
QUOTE (Adamsmith @ Jun 4 2008, 08:57 AM) My regards to the community, I would be seeking your advice on some matter. I have some interests in real estate and have read that foreclosure is an efficient way to gather up profits. I would like a little more thought on this…as to how does the whole thing work and how can we invest properly in pre-foreclosures to earn secure profits.
First off I would like to thank Kap for the referral..... Thank-you Kap,
Hi Adam,
If you have any specific questions I would be happy to help you out.... Just send me a direct question etc........ In the meanwhile check out my website... www.foreclosurescanada.com ..... I specialize in Alberta as Kap does in BC.....
Be aware of another company online who has a very slick looking website and has examples that look too good to be true..... get referrals before you spend any money online....
Yes investing in foreclosures takes work..... so does a job..... as well as investing through any other method..... If you`re looking for motivated sellers you might as well start with a crowd of people who "ought to be" highly motivated....
Cheers,
Wade Fenner
QUOTE (Adamsmith @ Jun 4 2008, 08:57 AM) My regards to the community, I would be seeking your advice on some matter. I have some interests in real estate and have read that foreclosure is an efficient way to gather up profits. I would like a little more thought on this…as to how does the whole thing work and how can we invest properly in pre-foreclosures to earn secure profits.
QUOTE (WadeFenner @ Jan 4 2009, 07:41 PM) Yes investing in foreclosures takes work..... so does a job..... as well as investing through any other method..... If you`re looking for motivated sellers you might as well start with a crowd of people who "ought to be" highly motivated....
Can you please give me an idea of what skills, type of work and time commitment would be required if one were to venture into this field for the first time?
Can you please give me an idea of what skills, type of work and time commitment would be required if one were to venture into this field for the first time?
QUOTE (MatzoB @ Jan 5 2009, 10:19 PM) Can you please give me an idea of what skills, type of work and time commitment would be required if one were to venture into this field for the first time?
buy a property or better 3 the normal way .. then take Wade`s course (or Kap`s .. but I have not taken it .. but Wade`s ..) or read books .. then search court for a town/city of interest for properties .. then write offers ..
and have lots of cash and a track record as a lender (new or existing) wants to know if you can turn around this distressed asset by:
paying back taxes
possibly paying back mortgage interest
paying for improvements as often the place is filthy and needs work
paying for property taxes and utilities before it is rented
getting a brand new mortgage or assume (reduced) existing one
If you have the cash, the access to credit, the time and the inclination it is very doable ..
buy a property or better 3 the normal way .. then take Wade`s course (or Kap`s .. but I have not taken it .. but Wade`s ..) or read books .. then search court for a town/city of interest for properties .. then write offers ..
and have lots of cash and a track record as a lender (new or existing) wants to know if you can turn around this distressed asset by:
paying back taxes
possibly paying back mortgage interest
paying for improvements as often the place is filthy and needs work
paying for property taxes and utilities before it is rented
getting a brand new mortgage or assume (reduced) existing one
If you have the cash, the access to credit, the time and the inclination it is very doable ..