Profit from Foreclosures in Real Estate Investing

Today's Financial News - Posted July 21, 2008

“Almost everyone approaches real estate investing with the same point of view. They try to convince themselves that they’ll make a ton of money quickly, without any risk whatsoever. You’ve seen many of those people profiled on evening news shows or in newspaper articles. They’re the ones who were caught short when the real estate bubble burst.” — Marc Charles

by Marc Charles

Baltimore — (TFN): The news media is all doom and gloom about the current real estate market, and the economy in general. But let me tell you. You can still make money with foreclosure property, especially in today’s economic climate. I’ve had great success with this, and it can work for you too.

But it’s crucial to separate the facts from fiction and ignore the hype.

Almost everyone approaches real estate investing with the same point of view. They try to convince themselves that they’ll make a ton of money quickly, without any risk whatsoever. You’ve seen many of those people profiled on evening news shows or in newspaper articles. They’re the ones who were caught short when the real estate bubble burst.

The “get rich quick” impresarios almost never reveal the full extent of the downside risk of the strategies they’re promoting. And the downside risk is a big deal for me.

Take, for instance, the “buy, fix, and flip” strategy. The days when you could make money doing this are over for the short term (the next three to five years). Why? Because buyers are scarce. Read on to learn more.

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