Jeff Adams: How to Successfully Invest In Foreclosures

Jeff Adams, the #1 real estate trainer, compares the buying of a foreclosed property to the same as buying a used car. In order to make a well informed decision, it is important to have all access to all facts. It is important that investors do significant amount of research in the local property and the home they may potentially be investing in. While the profits you get while investing in a foreclosed home can be huge, Jeff Adams recommends you consider foreclosures only if you are an experienced investor or have the help of professionals.

An important myth to bust is that not all foreclosed properties are in bad neighborhoods. Sometimes, even affluent families may have a bad turn of fate and may not be able to keep up with the mortgage payments. Most banks give them plenty of time to try and reclaim the home and only when all else fails, they put the house up for foreclosure.

Things to Consider Before Investing

  • Get your mortgage approved – Usually there is little to apply for a mortgage once you finalize a home so be sure that this is one of the first things you get out the way. It is also not a bad idea for you to have some liquid cash to make a quick down payment on the foreclosed home.


  • Check the neighborhood out – This is a crucial step before investing in a new home. The type of amenities you have access to greatly influences your home buying decision. So before you finalize the sale, drive through the neighborhood a few times. Also speak to the neighbors and find out how much they have paid for the house.


  • Enlist the help of experts – It is important to have a team in place, because a foreclosure sale goes through really fast. Keep your lawyer, banker and realtor informed of the sale well in advance so they are available for you to consult before finalizing the sale.


You Are Buying a Pre-Owned Home

Inspect the house for regular wear and tear as the lenders will not spend too much, or any money doing up the place before selling it to you. So the chances are you will be getting the house in the condition the past owners left it in. So be prepared to spend a bit on redoing the house and fixing up the place. If you are planning to flip the house, while you may have gotten it at a cheap rate, you may have to spend a little extra doing it up.

Have Some Patience

While the sale of the house may have happened in a speedy manner, it may take some time before you actually get the keys to the house. It could be a number of reasons from the reluctance of the owner to leave to the red tape involved. Have a little patience and you will be greatly rewarded with a beautiful real estate property.

Before you invest in a foreclosed home, Jeff Adams, the #1 real estate trainer, suggests you sign up for his workshops and buy his books, and invest on his REO Course to help you make a well informed decision. His team is also available to assist you through this process every step of the way! So go ahead and buy your dream home today!

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