Atlanta Real Estate News & Atlanta GA Real Estate Home Sales » Atlanta Real Estatetitle_li= Foreclosures/Short Salestitle_li= Real Estate Finance » So you want to become an Investor with Atlanta Foreclosures…

So you want to become an Investor with Atlanta Foreclosures…

Atlanta Real Estate News | Email the Author: Maxsell Real Estate,
Posted: September 12th, 2008
Category: Atlanta Real Estate, Foreclosures/Short Sales, Real Estate Finance



Atlanta Real Estate Investment Resource Foreclosures

In the past year alone, the number of Atlanta GA homes that have been foreclosed upon has increased. If you previously have been toying with the idea of getting into the Atlanta Real Estate Investment market, now is a good time to do so with the foreclosures that are happening in the area.

You may be thinking of taking advantage of the deals that can be had with the Atlanta Foreclosures. Keep in mind, though, that a lot of people have also been jumping into the fray, so you need a plan of action and ready to act when you decide to work the Atlanta Foreclosure market.

The success of your Atlanta GA real estate foreclosure business mainly hinges on the rate at which you purchase Atlanta homes at bargain prices and then turn them over for a profit. The old saying “Buy low, sell high” has never been truer.

Finding those Atlanta Real Estate Deals

To help you make good deals in the Atlanta real estate foreclosure market, below are a few tips:

  • Be ready to offer a solution to the Atlanta homeowner in crisis. Atlanta houses are about to be foreclosed are facing a tough financial crisis. They are looking for solutions.
  • Consider the Atlanta homeowner’s situation. There are cases when a Atlanta property may be in a less than standard condition and the homeowner’s foreclosing date is fast approaching.
  • Obtain pre-approval from your Atlanta Mortgage Professional. This way you are ready to close quickly, which will be desirable to the troubled Atlanta homeowner.
  • Do your homework. Ensure a good and profitable purchase of a Atlanta property by first doing your homework. Research the market, know what is and is not selling and understand successful selling strategies. Remember your goal is to ultimately turn over the Atlanta home for profit.
  • Think like an Investor - Be ready to act when a deal appears, because you are not the only one looking.

Although many competitors and 1st time home buyers are entering in the Atlanta real estate foreclosure market, making a profit in the business will depend on your ability to think of this as a business and not get emotionally attached to the Atlanta homes. Your success is dependent on your ability to look at the numbers and base your decisions on the potential profit. Don’t forget that there could be repairs or other expenses that may affect your profitability. It is important to approach the Atlanta Foreclosure market well researched to be successful.

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Viewing 2 Comments

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    Good ideas, Brad. My personal opinion is that until the inventory of foreclosures and "builder specials" is absorbed by the market, traditional resale sellers are going to continue to have a hard time selling unless their home is spectacular. Everyone seems to want a foreclosure these days, which is code word for "I want a screaming deal!"

    And they are getting them - sometimes - but remember, there are other people wanting "screaming deals" too and more often than not in this market we are getting into multiple offer situations with foreclosure homes. Go figure.

    The good news, though, is that the buying has begun. Investors and buyers just looking for a deal are starting to snap up these foreclosures, which is the frist step in returning the market to some notion of normalcy.

    If you are particularly interested in foreclosures in North Fulton, that is, Alpharetta, Roswell, Johns Creek and Milton, I put together a little search engine to help you find not only Foreclosures, but also Short Sales, which are also know as "pre-foreclosures". Goto http://www.LiveInAlpharetta.com/scripts/testidx.... It's not too pretty yet, but the data is all there.
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    When buying foreclosures you should be keenly aware of making sure you are aware of Federal and state tax liens as foreclosure does not eliminate these taxes and you will be responsible for them and that liability can wipe out your profit margin based on your purchase price.
 

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