With foreclosure filings falling, how does this affect the buyer (that’s you) when you want to invest in foreclosures.  It may seem with filings down and the summer 2010 freezes on foreclosures that the opportunities are going to disappear but there are some great opportunities for the savvy investor.

First and foremost, there is an abundance of REO foreclosures in Mobile that you may be able to pursue in an effort to make some wholesale offers for investment purposes.  Likewise, the resale market is moving well priced, move in condition homes in good areas.  That’s a benefit for you when you move to flip the home you purchase.

You’ll have investors and money partners that are interested in gaining more than the 2% return on CD’s and they would love to back you in your real estate deal around Mobile.  This way they’re either sharing in the profits of the home or making more interest in the long run.  Ideally you can’t lose unless you find yourself making a few very critical errors throughout the process.

1)When your wholesale prices aren’t accepted at all – this can definitely put a kink in your process and paint you in a bad light with the bank you’re dealing with.

2)Paying too much for a property

Either one of these mistakes can mean the quick and sudden death of your foreclosure investment business.  Thankfully, these issues can be solved when you know exactly what you’re supposed to be paying.  That is a remedy that comes in the form of a well-trained and experience Exit Realty real estate agent.  All experienced wholesale investors know that proper offer negotiations starts with your first phone call, continues with your written offer (and sales cover letter) and doesn’t end until you leave the closing table whether you’re working with normal property or foreclosures in Mobile.

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