Let’s back up for a minute. A 0 gain on a 00 investment is a 20% return in only two months. If you did nothing else for 10 more months you would have a 20% annual return. Who in today’s market wouldn’t be happy with that?
There is no guarantee that you will profit from flipping a foreclosure. The market is very competitive and, if you aren’t careful, it’ll leave you broken hearted with empty pockets. So how can you gain an edge against the thousands of foreclosure infomercial wannabe millionaires? Simple, work hard and learn as much as you possibly can!
Next you have to consider your goals. Do you intend to rent the house or settle for a short term profit? If the intention is to make a swift turn over, the idea would be then to subject the property to flipping’. Drawing in a buyer is the next impediment you need to overcome.
Finding the right investment properties is one of the most important decisions that an investor will have to make. There are several ways that an investor can do a property search. With today’s technology, the internet can play a big role in helping a home buyer do a property search. One way is to use the web to find an online auction where buyers can find deals on houses. There are also free websites that investors can use to search for property. You can also do it the old fashion way, and use your newspaper to look for a house. Next; realtor’s will be more than happy to help you find an investment property, if you want to pay the fee and don’t want to do it or don’t have the time to look for the house yourself.