Foreclosue Training - What Do I Need to Know as a Foreclosure Investor?
NEW FORECLOSURE INVESTORS - here is an outline of what you need to know and the types of questions you need to be asking in order to find properties, as well as interact with homeowners
MAKE SURE the FORECLOSURE TRAINING PROGRAM you choose, covers these basic topics:
Where do I find foreclosure deals?
- Do I use a manual Search?
- How do the online foreclosure listing services work ?
- What is the advantage of using an online foreclosure listing services?
- How do I narrow my list of properties to pursue?
- What if I have no money to buy a foreclosure property?
How do I contact the home owner?
- Phone, email, regular mailer?
- Which contact method works the best?
- If I contact someone over the phone, what do I say?
- If I contact someone over the phone, what should I NOT say?
- Are there other ways ( other than lists) to network to find pre-foreclosures?
How do I research a foreclosure property?
- How do I determine resale value?
- How do I determine repair costs?
- What about other costs - how do I estimate those?
How do I structure and close a foreclosure deal?
- How much do I offer the homeowner?
- How do I find out what is owed on the property?
- How do I negotiate the deal with the homeowner?
- What type of contract do I need to close a foreclosure deal?
What happens after the Sales Agreement is signed?
- Do I keep the property?
- What If I don't want to keep the property? can I still make money?
- What is assignment?
- How do I sell my 'Right to Purchase' to another investor (Assignment)?
- Is assigning a contract profitable?
- Do I need a license to set up and close foreclosure deals?