• Foreclosure Investing Foreclosure Investing

    0 comments / Posted on by Steven Rivera

    Foreclosure Investing

    Investing in a foreclosure can be a very rewarding and profitable process. If done right you can help someone get out of a bad situation in their life, and make money for yourself. Before investing in foreclosures it is important to understand the different types. Not all foreclosures are the same, there are a few different types and stages…

     Pre-Foreclosure

    A pre-foreclosure is when a homeowner is behind on their mortgage, but the bank has not yet come in and foreclosed it. This is a small window of opportunity for the homeowner to either catch up with their payments or sell to an investor. After a payment is late, the homeowner has 120 days to fix their problem or else the lender can start the foreclosure process. Getting in at the pre-foreclosure phase will eliminate the lender and allow you to deal solely with the homeowner. This allows for a smoother process.

     Short Sale

    A short sale is when the amount of money owed by the homeowner is higher than the value of the home and the lender is willing to take less than what is owed. Unlike pre-foreclosure, you have to deal with the lender because he has to approve the deal. The reason a lender will take less than what is owed is that it is easier to take a small loss than deal with the stress of a homeowner who has no money to make payments.

    Auction

    In some states, like New York, when a house goes...

    Investing in a foreclosure can be a very rewarding and profitable process. If done right you can help someone get out of a bad situation in their life, and make money for yourself. Before investing in foreclosures it is important to understand the different types. Not all foreclosures are the same, there are a few different types and stages…

     Pre-Foreclosure

    A pre-foreclosure is when a homeowner is behind on their mortgage, but the bank has not yet come in and foreclosed it. This is a small window of opportunity for the homeowner to either catch up with their payments or sell to an investor. After a payment is late, the homeowner has 120 days to fix their problem or else the lender can start the foreclosure process. Getting in at the pre-foreclosure phase will eliminate the lender and allow you to deal solely with the homeowner. This allows for a smoother process.

     Short Sale

    A short sale is when the amount of money owed by the homeowner is higher than the value of the home and the lender is willing to take less than what is owed. Unlike pre-foreclosure, you have to deal with the lender because he has to approve the deal. The reason a lender will take less than what is owed is that it is easier to take a small loss than deal with the stress of a homeowner who has no money to make payments.

    Auction

    In some states, like New York, when a house goes...

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  • Foreigners Want American Real Estate Foreigners Want American Real Estate

    0 comments / Posted on by Steven Rivera

    Foreigners Want American Real Estate

    Foreign Buyers and recent immigrants are buying the most real estate as ever since record keeping started in 2009. They spent $153 billion on American properties which was a 49% overall increase from last year. These purchases accounted for 10% of the total value of existing home sales in the US (not including new homes).

    Canada

    A big factor in this increase is Canada. They nearly doubled their purchases in the US in the last year due to the relative affordability of homes in the states. With cities like Toronto and Vancouver becoming more expensive, the US market becomes more appealing.

    China

    Beating Canada, China was the biggest buyer. They spent almost $32 Billion dollars during the surge, while Canada spent $19 Billion.

    Top States

    The top 5 states that foreigners are investing in are Florida, California, Texas, New Jersey, and Arizona. Canadians started investing in Florida, China focused on California and Mexico preferred Texas. It's all about location.

    Foreign Buyers and recent immigrants are buying the most real estate as ever since record keeping started in 2009. They spent $153 billion on American properties which was a 49% overall increase from last year. These purchases accounted for 10% of the total value of existing home sales in the US (not including new homes).

    Canada

    A big factor in this increase is Canada. They nearly doubled their purchases in the US in the last year due to the relative affordability of homes in the states. With cities like Toronto and Vancouver becoming more expensive, the US market becomes more appealing.

    China

    Beating Canada, China was the biggest buyer. They spent almost $32 Billion dollars during the surge, while Canada spent $19 Billion.

    Top States

    The top 5 states that foreigners are investing in are Florida, California, Texas, New Jersey, and Arizona. Canadians started investing in Florida, China focused on California and Mexico preferred Texas. It's all about location.

    Read more

  • Long Island Real Estate Investing Long Island Real Estate Investing

    0 comments / Posted on by Steven Rivera

    Long Island Real Estate Investing

    Long Island may not be big but is very densely populated. The Island is filled with hungry real estate investors of all ages, looking to close deals on the daily. That being said, there are a few strategies that are vital to assure that you stay ahead of the competition.

    Diligence

    Do your research; fall in love with the numbers, not the property. The worst thing a real estate investor can do is rush into an investment with little to no knowledge. Knowing your market is a key element to your success as an investor in real estate.

    Consistency

    You need to be constantly marketing, improving operational activities, and creating relationships. You need to be involved in your business every day. You never know when the million-dollar opportunity is going to pop up. Especially in the Long Island market, the competition is resilient so you must act fast.

    Build an Excellent Team

    There is no way that you can be successful in real estate investing unless you build a trustworthy and hardworking team. There are too many moving pieces and expertise needed for one person to handle it efficiently.  To learn more about team building check out our blog titled “Your Real Estate Investing Team.”

               

    Long Island may not be big but is very densely populated. The Island is filled with hungry real estate investors of all ages, looking to close deals on the daily. That being said, there are a few strategies that are vital to assure that you stay ahead of the competition.

    Diligence

    Do your research; fall in love with the numbers, not the property. The worst thing a real estate investor can do is rush into an investment with little to no knowledge. Knowing your market is a key element to your success as an investor in real estate.

    Consistency

    You need to be constantly marketing, improving operational activities, and creating relationships. You need to be involved in your business every day. You never know when the million-dollar opportunity is going to pop up. Especially in the Long Island market, the competition is resilient so you must act fast.

    Build an Excellent Team

    There is no way that you can be successful in real estate investing unless you build a trustworthy and hardworking team. There are too many moving pieces and expertise needed for one person to handle it efficiently.  To learn more about team building check out our blog titled “Your Real Estate Investing Team.”

               

    Read more