$20,000 Profit for Helping People Avoid Foreclosures

I live in Central Tennessee and not in a metropolitan city. In the past six months, my wife and I have helped three different people who were in pre-foreclosure avoid foreclosure, deficiency judgments, garnishments, and bankruptcy. In the process, we have made $20,000 and used less than $25 out of pocket to close.

When we find someone in pre-foreclosure, we do our research to find out what the property is worth; what the county assessment is; what the mortgage balance is; and order a title search to be sure of all liens. In most cases, the owners are more than happy to sell us their home for just enough cash at closing to rent an apartment or house, which is usually $2,000 or less.

As soon as I have a signed contract, I call three or four private investors, negotiate the highest price, and schedule a back-to-back closing. It is unbelievable that you can use your buyer’s cashier’s check to pay off the mortgage, provide the sellers enough to relocate, and still walk away with a big check.

I truly believe this is not about just buying houses and making a lot of money. I find that the old saying is really true: “People don’t care how much you know until they know how much you care.” If you are really helping people solve their problems, there will be more opportunities than you ever imagined come your way.

I truly enjoy this site, and I hope it’s available for a long time to come. Sincere thanks!

By CREOnline Contributor

A content contributor to the original CREOnline.com.