Stress only has the presence and control in your life you give it.

Richard flint

We can’t always eliminate the causes of our stress.  We can change our reaction to them.  Stress is not what is happening to us.  Stress is our emotional reaction to what is happening.

Happy investing – Ned

Guest post By Andrew Hill @ www.NewHomeSource.com

When Buying Foreclosed Homes be Realistic

Buying a foreclosure can be a fantastic adventure in real estate. And if you enjoy finding a great price for a home while getting your hands dirty, then it could be a perfect fit. But when shopping foreclosures you must remember this: if something looks too good to be true, it is. Foreclosures aren’t sold at rock bottom prices without reason. But, if you enter into the transaction with the required knowledge and a good understanding of the property you’re considering, foreclosures can be a goldmine of an opportunity.

Old Musty Bank Owned Properties

The first thing to know is that foreclosures often appear old or musty as a result of being left empty for a significant amount of time.  This can make the process of selecting the right home difficult because you have to imagine what you can do with the home in the state it is in. That’s not to say every foreclosure you survey will be dilapidated, but you can’t expect them to look like properly staged homes. Many of the home’s problems will also be invisible to the untrained eye, so you will want to have a professional home inspection completed on a home you are considering.

Be Prepared When Buying Foreclosed Property

By far the most important part of this game is being prepared. The foreclosure market is highly unpredictable and the best deals go quickly. Therefore, the best way to close a deal is to be prepared with an offer at all times. To do this, you will need to get approved for a mortgage and find an agent who specializes in foreclosures. These two things should happen relatively simultaneously. Once you have these prerequisites under your belt, you’ll be that much closer to sealing the deal.

When you find the perfect property, it’s time to make the offer. You will then fill out the appropriate paperwork, which will be reviewed and given an acceptance or rejection within a matter of days. Should your offer be accepted, you can then proceed to the fun, yet labor intensive stage: reparations and modifications. The key here is to set realistic goals as you improve the home. Timetables should be used, but if you don’t meet each deadline, it’s not the end of the world.

So long as you consistently put in the effort, the fruits of your labor will not be in vain. In a short matter of time, you’ll have a “like new” property. Whether you want to live in it yourself or try to make a profit from it is another story.

 Learn How to Invest in Bank Owned Property

The post above  is a guest post by Andrew Hill.  Andrew is from NewHomeSource.com a great place to find a new home by the way. And if you want a great place to learn about investing or wholesaling bank owned properties (REOs) you can’t do better than my friend Steph Davis’  Flip REOs for fast cash program

332 S. Woodyear St.,

Baltimore, MD 21223

Only $24,770

Call 301-332-5496

• Little or no renovation needed
  
• Nice Block no board ups
• Easy to rent
• Expected rents $800-$1,000+
  
• 2 bedroom (3 with walk through)
  
• Walk to shopping
  
• Convenient to downtown & Bus Routes

 Go to CrabProperties.com for more info and full terms

To see the condition check out the video

* * * Call Now * * *

Ned Carey

Crab Properties LLC

301-332-5496

 Go to CrabProperties.com for more info and full terms

Earn 18% interest

I have a limited number of tax liens for sale. These are Baltimore City Tax liens which accrue interest at 18%!  I am trying to raise money for this years tax sale and would be willing to let some of my current liens go.  Some have foreclosures started and I have an attorney ready to start work on the others.

Contact Us Now

Some of these certificates will expire soon if foreclosure isn’t filed. My attorney is ready to go. If you are interested reply to this post or use the contact us link near the to of the page.

Happy investing  – Ned

Today’s quote about self improvement is from a Snapple drink cap.  It’s their “Real Fact” #828.  I love their fun little sayings.

Snapple drink cap says:

“Every hour more than 1 Billion cells must be replaced”

I love it, however even better I would add

Ned Carey says:

“Every hour you have a billion chances to improve yourself”

The guys in the video below are fun to watch and high energy.  They are of the mind that modifications only prolong the housing troubles. They say more foreclosures short run, will get us back to a stable market faster.

So the question for you is “Should banks increase foreclosures and increase the short term housing market problems? Or should they “Extend and Pretend” at the risk of keeping housing in trouble for years to come? Leave a comment with your ideas.

 Are More Foreclosures Coming?

Whatever your point of view, the indication is that buying bank owned properties will will be  a key opportunity for some time to come.  Learn the best strategies to buy Bank Owned Property Here.
More about Bank owned properties and REO investing here

Happy investing – Ned

How does the mortgage holder get wiped out for a small amount of taxes.?

Because those are the rules!  It may not see fair but I explain in the video below

Here is a fun quote from one of Ray Croc’s business associates to Ray about opening a McDonalds office in California.

Don’t you like Sunshine Art?

Not if I can get Moonshine, Ray.

Ray Croc and Art Trygg

Hey not everything in business needs to be serious.

From the book Grinding It Out by Ray Croc

Keep Laughing – Ned

Is Another Wave of Foreclosures Coming?

Or is it a Tsunami coming? Rick Sharga from RealtyTrack.com says that “Banks own about 900,000 houses but only 300,000 are on the market!”  That means the real supply of REOs is triple what we are seeing today.  His prediction; 4-6 million homes will hit the market in the next two years.  That is a lot of REOs. (REO stands for Real Estate Owned by the bank)

Just Read Some of the Recent Foreclosure Headlines

• More Foreclosures Coming
• Foreclosures just keep coming
• Foreclosures, foreclosures, foreclosures  . . .They just keep coming
• Buzz: Wave of foreclosures coming
• Coming soon to your neighborhood — more foreclosed homes!

What about Baltimore REOs?

I did a quick check of the MLS.  In July, 79 out of 312 properties sold were listed as foreclosures.  An additional 24 were listed as potential short sales. Added together that means one third of the sales are properties with lender distress. There are 304 active listings marked as foreclosures in Baltimore City.

Why you need to learn about REOs

• The Best strategy for investing right now is buying bank properties.
• Bank owned properties can be wholesaled with little of your own money.
• There is an incredible backlog or properties in financial distress
• REOs will continue to be a key strategy for the foreseeable future
• There are rumors of  a HUD Flood later this month

Learn to buy REOs Here

Who is the expert in buying Bank owned property?

As far as I am concerned it is Steph Davis.  Stephani  is a true rags to riches story and her favorite strategy is wholesaling bank owned homes.    Must Know Investing website called Steph Davis one of “Best and Brightest Women in Real Estate Investing”.  If you want to learn from the best buy her E-book here.

Here is an example of what you will learn from Steph

I recommend Steph’s book but more importantly people who I admire and respect like Steve Cook recommend it also.  If you want the best program on buying bank owned property click here to buy it now.

If you are still not convinced

Average wholesale deal $2-7,000,  the price is only$47.  Even with a small deal, that is a 4000% return on your investment.

Steph said I could offer you a 30 day money back guarantee.  You have nothing to lose and tens of thousands of dollars to gain.  Buy it Now

Update

The 2012 version includes free bonuses.  One of these bonuses is an item I regularly get asked about.  Missing this bonus is something that holds back many new investors.

Happy investing – +Ned Carey

Please save this house!

Regular readers of this site know I am an active tax lien investor.  The property below is one I acquired via the tax lien foreclosure process.

Shame on me because it had a roof leak which I neglected.  One leak became two, then three, etc.  Now I am a motivated seller.  So motivated I have priced the property below at under $4,000 per unit!

Take advantage of my negligence and buy the property below.  It deserves an owner who will turn it into the cash cow it deserves to be.

2 Unit Fixer Upper- Dirt Cheap

    Only $7,800 for a two unit building. 

That’s like getting 2 units for the price of one.

Area rents for two bedroom units are conservatively $600-800. That’s up to $1,600 per month.  Rentometer says rents are even higher.  They show three, 2 bedroom properties at $850-1200, all within .15 miles

About the Property

3920 Norfolk Ave., Baltimore, MD 21216

Only $7800! – Call 301-332-5496

• Needs significant renovation
• Needs a new roof
• Needs ceiling and drywall repairs

• Under $4,000 per unit!
  
• Separate meters
• two water heaters
• Two furnaces
• 1st floor unit has finished basement access.
• Top unit could be three bedroom
• Option easily converted to 4 bedroom single unit.

To see the condition check out the video

* * * Call Now * * *

Ned Carey

Crab Properties LLC

301-332-5496

Terms of Sale: “As Is”, no contingencies, Use our contract, $1000 deposit. Ground rent if any to be determined by buyer. A real estate agent or agents may have a financial interest in this property.

Disclaimer: Any suggested repairs, Repair estimates, suggested rents, cash flows, Market Value or after repair value are our opinions only. They are provided for you to be able to pre-screen this offer. Information above is believed accurate but is not guaranteed. Please do your own due diligence. Seller is a real estate licensee in the State of Maryland.

Trademarks and Copyrights: This site is copyright Crab Properties, LLC 2011. “Back of the envelope repair estimate” and the image of an envelope with text representing estimated repairs are both trademarks of Crab Properties, LLC.