Mortgage and Real Estate Opportunity - Invest in Foreclosures and Preforeclosures

If you made a decent living in the mortgage or Real Estate industry and aren't holding on to your money or taking advantage of the incredible foreclosure and pre foreclosure markets, please tell us what you're doing?

A good friend of mine did quite well in the mortgage industry, mostly brokering A-paper and then writing his own mortgages. He retired before the mortgage bust (he's in his late 20's) and almost immediately found a killer buy on a commercial property that was going through foreclosure or pre-foreclosure. The only reason he got the deal was because he knew someone who was helping the owner get through the foreclosure process. He bought the property for pennies on the dollar and now makes enough money off of the commercial property to ensure his retirement indefinitely. Just look at today's LA Times Business section, the headline Santa Ana foreclosures spur a bittersweet boom: "Angelica Maciel, who was priced out of the market during the real estate bubble, closed on this Santa Ana bungalow last month. She paid less than $270,000 for the two-bedroom, 910-square-foot house, which previously sold for $504,000 in 2006." People are buying properties for almost half their original price...it's time, or close to the time to buy, especially in the foreclosure market!

Right now there are so many pre-foreclosures and foreclosures that it's tough to weed out the good deals from the deals you hear about through the grapevine. How do you know that the 'good deal' you heard about today isn't the 'unbelievable deal' you may find out about tomorrow?

I've been getting glimpses of Prop Stream's preforeclosure, bank foreclosure and foreclosure software and so far have been completely impressed by it's features. It give investors the opportunity to work a deal with the owners and bank before they go into foreclosure or wait until they have been foreclosed on and be the first to the auction.

The software gives you the ability to forecast foreclosures based on their preforeclosure status and for mortgage brokers, get people out of foreclosure while they are in the pre-foreclosure process. That's right, if you are in the mortgage industry, this is an opportunity to generate leads and help people work through their high-risk situations or get them into a more manageable loan. You can also become the short-sale expert in your area with the tools to run comps based on any area in the country and with more information than the MLS.

Powerful tools to help people keep making a strong and stable income are what will keep the mortgage and real estate experts in the cash while the markets change. And if you're like my friend, you may just make enough to retire sooner than later.

As always, best wishes and best of luck.

Mortgage Broker and Realtor Investing

Here in southern California there are several Mortgage Brokers and Realtors out looking for the next big thing to move to. Some of them, I've noticed, are jumping on the debt consolidation industry because it's a quick transition that seems to be doing well. I'm not sure how they are able to make the kind of money they were bringing in during the mortgage boom because the commissions and dollars just aren't the same.

I know several successful Mortgage Brokers and Realtors that have also seen a down turn and have opted to maintain their businesses while also leveraging their knowledge and glory-days income (savings) to pull in big money again. All of them have found a tremendous income opportunity in the Pre Foreclosure and Foreclosure market. They are buying up commercial and residential properties and either flipping them or keeping them for a perpetual revenue stream, to ensure some long-term revenue stability.

One of the programs I keep hearing people talk about is the search and forecasting tool by Prop Stream. I've seen the presentation and plan to have a closer look when I get the time.

In short, the software gives investors or potential investors the ability to search, filter and research pre-foreclosure, bank foreclosure and foreclosure properties. Instead of trying to do this yourself through your local government, bank or mortgage bank, you can do all of your investigation and research right from one real-time application.

As an investor this is key because you want the ability to jump on a potential deal before anyone else. It is also important if you are a Realtor because these are potential steals that you can offer to your investor-clients. Think about the additional, low cost, opportunities you can add to your product selection. In a time when some of the mid-range deals are going away and even some larger ticket properties are being foreclosed on, it's a wonderful opportunity to continue closing deals.

I'm going to take a closer look at the software and then I'll post again about some of it's features and see what it can really do under the hood.