Dear forum readers; As I am unaware of the intricacies of investing in Foreclosure properties in the US, I am seeking someone with some experienced knowledge in this area to inform me of the pitfalls and challenges I may face investing in these opportunities. I read on a US foreclosure site that US mortgage defaults are up 42% this quarter, with rising interest rates over there (still comparatively low to Australia) and many of the high yielding/high cap growth being sold for 40-70% below market value on many properties previously owned by Silicon Valley- failed entrepreneurs of the 2000 tech bust who spent extravagantly on lifestyle before bankrupting. Does anyone have any expertise in this area I can learn from. Any advice greatly appreciatedyidn
Feel free to email me.
Cheers Richard
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http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
The foreclosure/preforclosure market is a very competitive business over here. In Seattle you can’t drive 1 miles without seeing half a dozen signs saying, “Stop Foreclosure” signs.
Late night “infomercials” are also packed with guys selling courses on buying property for 50c in the dollar.
If you do a internet search you’ll find plenty of material. One guy whom I’ve heard speak on the topic is Paul Wells, whom is based out of Denver. He had a lot of interesting ideas, especially do with creative marketing.
Good luck with your research,
Cheers,
Batts
Another “guru” in the US on foreclosures is Ron LeGrand. I’ve studied some of his material. Do a google search on him….
Rgs
Richard
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