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Make Money Buying Distressed Properties

By Lisa Udy

You have heard it a thousand times, so here is one more for the record. You can make money in Real Estate. While there are a myriad of ways it can be done, and while becoming familiar with any of these options will take some time and certainly involves a learning curve, there is no doubt that it can be done. People are doing it every day in their own unique way, so lets take a look at some of the more popular ways it is done.

Foreclosed homes are currently providing an excellent way to get involved. It is likely the most popular due to the number of homes that have been reverted to the bank, and there are more on the horizon. You may need to be very handy, or certainly have the ability to pay for the repairs that will likely be needed since these homes often need some work and the banks sell them as they are with no fixes in the deal.

You might also consider defaulted bank notes as a way to turn a profit. The idea here is to buy defaulted loans and sell them, typically to investors, at a profit. In can be done, however you may end up owning property you didn’t plan to own. As with any other option, you could lose a lot of money in this game, so make sure you know the ins and outs before you get started.

You could also become a landlord. While this is perfect for some, many people get involved in rental properties and regret it. Tenants can be a hassle. Home repairs and improvements can be a hassle and can get very expensive too. Of course there is the management of all these aspects on a day to day basis. It can be a great way to develop positive cash flow when done right, but rental properties can break you too.

Of course you could always become an agent. Getting your license is the same now, more or less, as it has ever been, although there is a lot of knowledge required to succeed. Still, while some agents are failing, others are doing quite well. If you think you have what it takes, look in to getting your license and the other ways you might get started.

If you have some cash in reserve, you might prefer to be a silent investor. You could go it alone or team up with others and purchase properties. Some groups flip these right away. Others have every intention of renting them out to tenants until the market rebounds, and when it does those fortunate enough to be in position stand to make a substantial profit.

So as you can see, there are many ways to get involved and make money with real estate, even in today’s market. Still, as with any investment, you should proceed with caution and make sure you know what you are getting involved in before you risk losing it all. Take the time to get educated, and then, if you feel you are able to give it a go, dive in to real estate. It can be a great way to make a lot of money.

Article provided by an expert in her field, Lisa Udy. You can learn more by visiting Lisa’s website at Hyrum Utah Properties or Wellsville Utah Properties.

Article kindly provided by UberArticles.com

Topics: Real Estate | Comments Off

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Article Citation
MLA Style Citation:
Udy, Lisa "Make Money Buying Distressed Properties." Make Money Buying Distressed Properties. 24 Jul. 2010. uberarticles.com. 3 Jan 2015 <http://uberarticles.com/real-estate/make-money-buying-distressed-properties/>.

APA Style Citation:
Udy, L (2010, July 24). Make Money Buying Distressed Properties. Retrieved January 3, 2015, from http://uberarticles.com/real-estate/make-money-buying-distressed-properties/

Chicago Style Citation:
Udy, Lisa "Make Money Buying Distressed Properties" uberarticles.com. http://uberarticles.com/real-estate/make-money-buying-distressed-properties/


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