Real Estate Foreclosure: Getting Wet With Your First Deal

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After sitting on the fence for a while you've decided to jump on board and either have been trying to make foreclosure investing work for you or you're still on the fence and wading in the pool trying to get a feel for the process before committing yourself fully.

You feel inundated by the evidently endless supply of strategies and terminology involved in foreclosure investing and in real estate in general.

One of the primary factors in determining your success in foreclosures and in business in general is in the market research. Let me put it this way: you have to be able to spot and examine whether a deal is a deal or not. Now I can probably ramble for hours on all the different details, strategies, opinions, schools of thought, gurus, books, etc.

But in the end market research is something that it highly tied into your own experience. Try to get some good books on real estate market research it as much as probable to a point (without overanalyzing) get a handle on it so that you may get involved and practice and learn and eventually you will become a master deal analyzer. It's like riding a bike.

So that was one component of the foreclosure investment process. Now the second huge aspect of it is in how to finance the deal in question. Are you going to pay for it out of your own pocket or are you going to try to find wealthy investors and work out a deal with them involving coownership, etc.

In this is a massive topic in itself which is sometimes labeled as a creative financing. Alternately the finances has to come from somewhere either from yourself or from others.

And lastly putting the circle in full-bloom, you'll need to figure out your exit strategy. In other words, how are you going to profit from this piece of real estate now that you have the rights to it?

Of course it's impossible to teach you everything about foreclosure or investment in one little article but if you were to study those three major components: market research, creative financing, and exit strategy. Then you will be well on your way to having at least having a guideline to learn and study from and build upon as you increase you're real estate know how.

There's no one right way to do things, just get a good system and begin implementing it. Within a few months or a years time (depending on your gusto), you will probably surprise even yourself with how masterful you've become with real estate foreclosure investing.

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