Real Estate Pro Articles
   
   

There is No Such Thing as Guilt in Foreclosure Investing



[Valid RSS feed]  Category Rss Feed - http://www.realestateproarticles.com/rss.php?rss=265
By : Karim El Sheikh    99 or more times read
Opportunistic vultures that take advantage of people who are down on their luck – this is a picture that some people hold of those who invest money in buying up foreclosure homes and short sales.

That is, however, not true for everyone who invests in foreclosure deals.

Sure, there are some snakes in the grass that use underhanded techniques. What profession doesn’t have its fair share of those? As a whole, however, you can do more good buying foreclosures than by simply leaving a person to face eviction.

Here are some of the more important reasons why:


Foreclosed homes become “temporary” residences

One of the most important things you have to remind yourself is that the current occupants of a foreclosed home will eventually be evicted. It is imperative that they find some solution to their dilemma before this happens, and this is something that you can come in to help them with. The foreclosure process is a lengthy difficult one for these folks, but they will inevitably have to deal with it at one point or another. The alternative is worse: being forced off their homes and into the streets without any other option. You come in here to buy their homes and give them the money they need to find another place to live in and start over from scratch.


Responsibility ultimately lies in the hands of the previous owners

When anybody signs up for a mortgage, they commit themselves to the terms stipulated in the mortgage – regardless of whether the property shifts up or down in market prices. They know that failure to pay their obligations will result in foreclosure. Unexpected events like unemployment or a drop in equity value are indeed unfair, but they have to learn to accept their condition and move on if they want to make the most of their misfortune. Simply sitting in their homes and waiting it out will do more harm to them than good – and you can be the conduit that can help people do just that.


Nobody is actually forced or manipulated into anything

This is where you separate yourself from the sleazebags in the business. It is fact that you are looking to buy foreclosed homes for personal benefit. Hiding it with a false sense of charity or chivalry will just offend the people you are going to work with. What you can do, however, is explain everything as clearly as you can to the occupants of the home – that they face eventual eviction and that they will have a better chance at a stable future if they work with you. Give them the freedom to make their choice and work from there.


Empathy will allow you to connect with the previous owners

You may see the foreclosed property as a simple investment, but the occupants see that same property as a home where they planned to spend their futures in. Don’t rush in all arrogant and saying “it’s your fault you’re like this.” The point here is to listen to what they have to say, how they feel about the whole thing and then come up with a compromise on how to help one another out.
Foreclosure.com is the top online resource for homebuyers and real estate investors. Search all foreclosures, preforeclosures, short sales, and more.

Related Articles



Actions
Print This Article
Add To Favorites



Sponsors

 

 

© All rights reserved to Real Estate Pro Articles