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.