I get asked quite frequently "do you deal with foreclosures"? What most people are really asking is "do you deal with motivated sellers that I could make a profit from"?

In either category, the following information may be of use to you.

In order to invest & recommend good advice, I am constantly updating new information & taking courses to further my knowledge base. If you have information about upcoming courses that you would like to share with me, please email me at mhege@dickensmitchener.com .

In order to invest wisely, you have to understand the foreclosure process:

1. Arrange financing to make sure that you can act quickly if the right deal comes along (pre-approval takes about a week). Talk with a *local* lender. ( I offer referrals that specialize).
2. Discuss investment exit strategy & buyer interview in person (Buy and Hold: Rent, Turnkey Investment, Wholesale/ Birddog to other investors, 1031 exchange, etc...)
3. Find a "deal" or the best scenario-"MOTIVATED" Seller not just foreclosures-(for example: MLS, FSBO, Builders liquidation, wholesales, Investors Referrals)
4. Access the deal before you ever get in your car (working together) (I.E. ARV- After Repaired Value)
5. Assess Repairs- Always recommend having you team of "renovation contractors" that will assess their estimation of repairs... Secondly, have a licensed home inspection
6. If the "deal makes the numbers crunch: Put in an offer along w/ the pre-approval letter