How to find and buy a foreclosed home.
Oh, yeah. You heard that right. There are so many opportunities for you to buy a
foreclosed home for pennies on the dollar. And I am going to show you how. Let's go.
I'm going to share with you a detailed step-by-step process on how to buy a foreclosed
home. I'm going to share with you the top 3 places for you to look to find the best properties.
And last but not least, I'm going to share with you some secret ways to get a foreclosed home
without spending any of your money. So, there are so many benefits to being a real estate investor.
I have increased my net worth by owning properties. I have been able to leverage
those properties. Meaning, I could borrow money against them to buy more properties.
I have created income and cash flow for myself with my rental properties. And I've even made
tons of money fixing and flipping properties that I got for pennies on the dollar. So, again, being
a real estate entrepreneur has changed my life. And investing in real estate has so many benefits.
It is still the number 1 way to wealth. did you know that 89 of all millionaires were created so
through real estate. Well, it's true. It was true 100 years ago and it's still true to this day. So,
let me tell you how you can get in on all of this. So, I absolutely love foreclosures. If you don't
know what a foreclosure is, that is a property that the bank took back because the person did not
pay their mortgage. Okay? They defaulted on their mortgage payments. So, when you purchase a home,
most people get a mortgage. Meaning, they take out a mortgage payment, they put down a small down
payment. And then they make mortgage payments to the bank. And if they do not make their mortgage
payments, usually after about three or four missed payments, the bank will foreclose on them.
Meaning, they will take that property back and that person will be evicted out of the home. They
will have to leave that home and the bank will retake over that property. And this is an awesome
opportunity for real estate investors. I know it sounds terrible. It means someone got kicked out
of their home. But this is an amazing opportunity for a real estate investor because this is how
millionaires are made. Take it from me. I literally was on the other side of foreclosures
for way too long. Many of you guys know I started from my parents' basement in 2009-2010
after we lost everything in the financial crash. I literally had multiple foreclosures, bankruptcy
and I had to live in my parents' basement just to make ends meet. Well, it was actually foreclosures
that got me out of their basement too. It was a foreclosure that got me in their basement and a
foreclosure that got me out of their basement. Let me tell you that part. Like I said, because
in a foreclosure after you stop making your payments, the bank will take the property back.
This is an amazing opportunity for real estate investors. But there's a better opportunity.
There's an opportunity to help people. And this is how I got out of my parents' basement. So, I got
a coach when I was living in my parents' basement just because I didn't want to fail at real estate.
And I wanted to figure out what I had done wrong. Well, I found a coach that told me I needed to
focus on property problems. Specifically, people that were in foreclosure like me. People that were
behind on their mortgage payments and they were about to lose their home. He told me I needed to
send them letters, put out signs, run ads and say, "Hey, are you behind on your mortgage payments?
We can help." And I would call these people or they would call me from the advertisings that I
sent out. And I would help them avoid foreclosure. And in return, I was making tons of money. Whether
I kept the properties which in the beginning I couldn't because I had bad credit and no money.
But in the beginning what I did was call wholesaling. I would flip those contracts
to investors that wanted to keep them for fix and flips or for rental properties and they would pay
me a fee for marketing. Because I was the one that found the person, talked to them, got them to say,
"Yeah, I'm going to move out of the property and I'm going to sell it to an investor."
They would pay me a fee. Additionally, it was so awesome because I was helping people. Like I said,
I had ended up in my parents' basement with no properties. And now, I was able to help
people avoid that process altogether. They did not have to go through the embarrassment and
the humiliation of getting foreclosed on. They literally could sell that property to an investor
and move out to another place without having their stuff thrown out or having their credit ruined. It
was awesome opportunity for them, the person that was in foreclosure, me --the person helping them
and the end investor that was going to buy the property and make it a fix and flip or a rental
property. So, it's a win-win altogether. So, let's talk about how you can do it. The reason
that foreclosures are awesome especially if you can get to the person before the bank actually
takes the property back is financial distress is a good thing. Honestly, financial distress
opens people's minds. Once you're behind on your mortgage payments and the bank is threatening to
take the property back, many people are open to listen to different ideas. They already know what
one option is. Okay, I can ruin my credit and let the bank take the house back. Or I could sell this
house to an investor and not ruin my credit. Hmm, which would you choose? So, it became a
really easy process to explain to people because I understood what happened during a foreclosure
and after a foreclosure. And it was not pretty. So, I became such a great person to help people.
And you could do the exact same thing. It's super inexpensive to start marketing to these people.
Like I said, you can put out signs. You can send letters. You can do ads on Facebook. You can do
a myriad of things. In fact, I made an entire video where I teach you all about how to market
and find these properties. I'll make sure to put a link here and in the description box for you to
watch that whole playlist. And this is amazing. You need to get in on this because foreclosures
will allow you to start getting properties sometimes for just the amount that the person
is past due through a process that we call subject to. You may be able to just buy the
property for the past due payments, the person moves out and then you take over the payments.
Super simple. So, let's talk about where you will find some of these people. Before the person goes
into foreclosure, you can start finding them on sites like Zillow. Zillow has a link where you can
look for properties that are for sale and then you can click a box that says "pre-foreclosures". And
in many cases, these will be people that have not officially been foreclosed upon. They are people
that are in the foreclosure process. Meaning, they are in default of their mortgage payment
and they will soon be in foreclosure. So, these are the people that you need to reach out to and
they are the lowest-hanging fruit. Super easy to start talking to and let them know that you are
connected to a network of real estate investors. And we are interested in buying more properties.
This is an amazing way if you want to keep properties for yourself. If you want to keep
the property, you can just get a mortgage you know apply and then buy their property and of course,
they're going to sell it to you at a discount. Or you can find these people and flip those people to
investors like me who will pay you a fee for doing so. So, another great website besides Zillow is
county websites. Basically, what Zillow is doing is they are pulling county records. And they are
pulling records of default. So, when someone gets behind on their mortgage before the foreclosure,
in most states, they will file what's called a notice of default. If the person has received a
notice of default through the public court system, you can access those records, you can call those
people mail them letters or do whatever you need to reach out to them and start getting those
properties from them so they do not have to get foreclosed on. That's another great website. And
then another great website which is absolutely free of course is craigslist. You can also do
for sale by owner website. So, what you want to do is start googling for sale by owners and put
your city and state. This will give you a list of different websites that have people that want
to sell the property by themselves without a real estate agent. Many of them will be in foreclosure,
okay? You can also cross-reference the list of people that are selling homes themselves
and cross-reference that list with the county record so that you know the people that are in
default and those are the people that are going to be the most interested in letting you buy their
foreclosed home. Now, of course, you could also buy a property after it's completely foreclosed
on and those are bank-owned properties. Now, I'm going to give you a warning. I don't necessarily
like buying bank-owned properties. Once the property has gone through foreclosure and the
bank has regained the property, they are now the owner of that property. And essentially,
they are the seller of that property. They're not much different than any other seller. They're a
bank. And in fact, many banks have lots of money more money than sellers. So, the key
to making this work and how you really want to buy a foreclosed home that you can get for pennies on
the dollar is getting the person before the person goes through the entire foreclosure process.
Get the property before they are foreclosed on. Get them while they're still behind on
the mortgage payments. That is the easiest way for you to negotiate directly with the seller
and be able to get some creative financing that doesn't require you to go to a bank. So,
I have created an entire training where I teach you all of this and more you can get this training
absolutely free at noelsfreetraining.com. That's noelle (n-o-e-l-l-e-s),
NOELLESfreetraining.com. I've created an entire course that's over an hour long and
it's absolutely free teaching you my exact formula for making money in real estate with
little to no money. Check out that training so that you can have all of the tools, all of the
knowledge and all of the resources that you need to be successful. This is Noelle. To your success.