foreclosure 7Looking for a way to still make smart investments in a dwindling U.S. economy? Believe it or not, there are still average homeowners making money in real estate! More and more homeowners and savvy investors are choosing to purchase foreclosed properties as a way to make a profit. And with the unemployment rate and unpaid mortgage rates continuing to climb, there’s no reason why you can’t take advantage of some of the record low property prices. Here are three good reasons to consider a foreclosure investment.

1. Rental potential:  Not everyone who purchases a foreclosed home has intentions to occupy it. Many chose to transform the home into a rental property and reap the tax benefits of a profitable business. Managing a rental property is a lot of work if you chose to do it yourself, which includes tenant screening, rent collection, property maintenance, and sometimes even evictions. However, if you have an air tight lease agreement and the right tenants, you could very well be on your way to a financial easy street.

2. Nice to be appreciated:  While the rest of the country’s home values are continuing to sink like the titanic, a foreclosed home bought at the right price actually has the potential to appreciate. The longer you hang on to the property, the more likely its market value will increase. Patience is a virtue in the foreclosure real estate game so hang in there if you want to profit.

3. More savings than you think:  Foreclosures usually sell for 20% less than their counterparts so smart homeowners are collecting foreclosed properties like stamps. Some have the impression that foreclosed homes are fixer uppers that need a lot of work and sweat equity. But surprisingly there are still a considerable number of bank owned homes that are still in good condition that lenders just don’t have time work with. The potential to build up a nice chunk of change is definitely there if you research the most promising foreclosed homes in your area with the best turnover possibility.

Interested in purchasing a foreclosure in the San Diego area? Visit

www.openoffer.com/foreclosures for listings!

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This is filed under Foreclosures.


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