The latest financial crisis has opened doors to a new sort of industry – the buying and selling of foreclosed (repossessed) properties.
If you can’t pay your mortgage anymore, it would be a much better choice to foreclose on your property rather than burdening yourself with increasing debt.
For every hundred mortgage loans in Canada, at least two of them face foreclosure, and this number keeps going up every year. Property prices are also higher than ever before, and that will also keep going up. Buying land is always a great decision because they’re not making any more of it, right?
This is an insanely profitable and lucrative money-making business, which isn’t that popular yet. And that makes it the perfect time to jump in and join the bandwagon.
As a firefighter and businessman, I’ve found investing in real estate (especially foreclosures) a great way to earn a lot of money on the side.
Now, let me give you a brief overview about the foreclosure business.
Foreclosure – A Brief Overview
Because foreclosed properties are considered a non-performing asset by banks, they are always sold as quickly as possible, often at prices far below the market value (up to 50% below the market value.) Thus you are almost guaranteed a profit when you sell it off later at the current market valuation.
The only problem is, it’s hard to come by these foreclosed properties as all the details are kept private by the banks and courts. If you want to know about foreclosure listings from the courts itself, you would have to pay several thousand dollars and spend hours sifting through their foreclosure records.
This is where foreclosureresearch.ca comes into the picture. For $49 a month, you get all the recent foreclosure listings at the tip of your fingertips. You can navigate by area, price, etc. and you can directly get details of the brokers or homeowners or whoever’s selling the place. You’d end up paying more money on merely going over to the court and in parking fees while you go through the records.
To start investing in foreclosures, you need to have a basic understanding of how it works.
There are basically three kinds of properties –
- Foreclosure Auctions Or Sale
- Bank Owned Foreclosures
The latter two are the listings you will find in foreclosuresearch.ca.
Preforeclosures are houses that are scheduled to be foreclosed but haven’t completed the process yet. The process takes some time, but eventually, these houses will end up in foreclosuresearch.ca as well.
In foreclosure auctions, the mortgaged property is sold under the supervision of the court after the lender initiates litigation against the borrower in a court of law.
In the second case, the mortgage holder sells the property himself without involving the court, making the process much faster.
All foreclosed properties are listed with realtors just like any other properties. When the realtor gets an offer on the property, he passes the proposal to the lender’s representatives to consider.
However, you must remember that each one of these houses is sold “as-is-where-is.” So you need to go to the house and see its condition. There might be unpaid taxes as well.
So Why Foreclosureresearch.ca?
– You save money
You can definitely hire a broker to do all your hard work for you, but that is going to cost you a pretty penny and a large chunk of the profits.
They’ll give you a bunch of listings, but as soon as you make a deal, they would expect a commission. Money in return for information.
With foreclosureresearch.ca, you’ll get all the contact information of the realtor from the website itself.
Then, of course, there are lawyer fees if it’s a court auction. You can do it yourself, but it will still take up most of your day.
– The Sheer Variety Of Options
It has filters for the area, market value, and discount rates. You need to get a property in a good area at a discounted price to avail maximum profits. Simple, yet very effective.
It’s available on mobile devices too, so your accessibility is never going to be an issue. In my opinion, it could have been better if they had a few more search filters.
You gain full access to the extensive listings of property sales, auctions, government-owned homes, bank-owned properties and more. Their MLS (multiple listing services) also has details of people who are in the process of foreclosing, but they do not want to make it public. They’re desperate for a good deal and quick out from their mortgages. These are where you usually find the best of deals.
It’s worth noting, that foreclosureresearch.ca doesn’t buy you these properties, they simply get you in touch with the realtor. After that, it’s your job to negotiate and bring the price down.
This is where the website also offers a vast treasure trove of information on how to make the best deals. They have a huge number of blog articles and guides, teaching you exactly what it takes to break into the real estate business. These guides are written by industry experts and tell you exactly what to look for in a property and how to select the one that best suits your needs or yields maximum profit.
In order to negotiate with the realtor, you must also have a good idea of the laws of the land ( laws relating to insurance, tenants living in the property, taxes to be paid, etc.) It has a good number of guides available for that as well.
So How Do I Get Started?
The monthly subscription is $49 every month, but you can get started off with a trial period of 7 days for only $7. After which you can choose to continue your subscription or terminate it without incurring any additional fee.
More than 90% of customers keep subscribing as the website always keeps updating with the latest foreclosures and listings. You’ll get emails informing you of every new listing in the area and market value of your selection.
I wasn’t new to the business of real-estate. Several of my friends also have brought a property and rented them out. It provides for a steady source of income besides my regular job.
I’m closing in on 40 and I wanted to set up a fund for my wife and kids, so that they don’t have any financial problems after my retirement or in case, something (god forbid) happens to me.
So, after reading up a lot on real investment books and blogs, investing in foreclosed properties really caught my attention.
My google searches took me foreclosureresearch.ca. One of the most popular foreclosure listing websites out there, I was impressed by the website’s simplicity and ease-of-use. Another friend of mine got a particularly good deal on a house in Edmonton. He then sold it off at $75,000 dollar profit which is why I got into it also. Both of us being residents of Edmonton, I spent some of my savings and bought a townhouse in Clareview for $200,000.
I was really tensed at first, but then I found myself a buyer just like the realtor and the website had promised. I don’t want to get into how much I sold it for, but suffice to say, it was a pretty good deal. Pretty soon, I’m going to buy another house and sell it off again!
Summing It Up
In short, I have had a great experience with foreclosureresearch.ca, and I’m not the only one. Just head on over to their website to see the huge list of testimonials. It’s simple, effective and does what it’s meant to do, without any catches whatsoever.