subject: Real Estate C.H.A.R.M and Foreclosures [print this page] Real Estate C.H.A.R.M and Foreclosures Real Estate C.H.A.R.M and Foreclosures
With the economy shifting in ways that are unpredictable. Some markets have increases still in today's economy, while other markets are still seeing record declines. There are ways to beat your local real estate markets, but it requires you to think different. Chad McCall has trademarked and patented a strategy called The Real Estate C.H.A.R.M. School. We are not talking about your traditional school, but a new school of learning.
C.H.A.R.M. is probably the most powerful real estate acronym for investors. Use this new age method that has just revolutionized an almost stagnant market for investors. Everyone wants to keep investing but the walls that have popped up in the economy have just slowed everyone down. The wall has been knocked down and the need to learn C.H.A.R.M. has never been greater.
The markets that are directly affected are the rentals, foreclosures, first time buyers, and for sale by owner properties. To capitalize on all of these markets simultaneously is the key. The rental rates will rise once individuals lose their homes. Once a person is almost ready to be evicted, the first thing they will need is a place to live. The availability for affordable housing being at an all time high, the current rental market can now have a chance to purchase a home. Now with the federal administration allowing the federal tax credit of up to $8,000 this is a green light to cater to these potential buyers. The role in society is just being reversed nothing more. Renters are becoming homeowners and once homeowners now become renters. Bridging the gap between home and buyer is critical in an investors business.
Put the C.H.A.R.M. back in your real estate business.
First know the foreclosure process.
Profiting From the
Foreclosure Process
There are basically three ways that you as a real estate investor can effectively work with property that is in foreclosure, or property that has been foreclosed upon and has been retained by the lender.
1. Bid successfully on a piece of property at the foreclosure sale.
2. Negotiate a contract on a property with the owner prior to the pending foreclosure sale.
3. Negotiate a contract with the lender who has retained the property after the foreclosure sale. (NOTE: Often times this property has been turned over to a real estate brokerage firm to sell.)
Each of the three approaches outlined above can be successfully discounted. Is one area better than the other to concentrate your efforts? That will depend on several key factors.
Are you going to assign your contract rights?
Are you going to "Joint Venture" the property?
Are you going to hold "Title" to the property?
How much cash do you have available (yours or OPM)?
If you hold "Title" to the property, what is your intent:
Resale (Short Term Holding)?
Hold for rental (Short term, 2 - 5
years resell)?
Hold for rental (Long term, 5- 15 years Long Term Market Appreciation)?
Each area of foreclosure has excellent profit potential. The area(s) you choose to work in will be determined by what best suits your own individual investment needs.
