With hard economic times has come a surge in loan defaults, foreclosures, short sales, and repossessed homes. This presents an opportunity for those with the courage to think big, to take action and buy(low)and sell HUD homes at great profits. A real estate professional who has created wealth by doing so, reveals his secrets in this book on how to cash in on this market. More
If you have been paying attention to the news and real estate market in the last few years, you have probably noticed that with hard economic times has come a surge in loan defaults, foreclosures, short sales, and repossessed homes. With these challenges comes this opportunity for those with the courage to think big and take action to follow through. Homes that have been foreclosed are typically sold for less than market value—sometimes far below. I have personally purchased HUD homes as low as 30% of the list price. The banks and government institutions that now own these properties are not in the business of keeping real estate on their books for long. In fact, they want to get rid of them ASAP to improve their financial statements. So they are often willing to take the loss in order to recoup some of the money they originally spent. You stand to profit by buying them at a discount, fixing them up, and reselling them again for a quick profit—which I call a “fix and flip.” Or, you may buy homes today at very depressed prices and hold onto them as part of a long-term, wealth-building strategy. Getting houses for a fraction of what they were once worth means the values have plenty of room to come up when the market corrects itself. In addition to the market conditions, we are purchasing properties at 30% to 50% less than the current asking or list price, which is even better. In other words, you don’t want to buy when the market is at its peak—so now is the time! You also don’t want to pay list price, which will almost insure a profit for you assuming everything else with a property checks out. We will cover this in the book. Even in today’s tougher market, my team and I buy and sell 10 to 15 or more deals per month—and most of our properties are sold the same day (although we do rehab some to retail and also keep some as rentals). No more rehabs, tenants or long-term financing; we are in and out of each property quickly.
Larry H. Goins has been licensed as a mortgage lender and mortgage broker in North Carolina and South Carolina. He has also been licensed in both North Carolina and South Carolina as a real estate broker and general contractor. He is a past member of the North Carolina Association of Mortgage Professionals and National Association of Mortgage Professionals. Larry has been investing in real estate for over 20 years. Larry is an active real estate investor who travels the US speaking and training audiences at conventions, expos and Real Estate Investment Associations on his strategies for buying 10-15 properties per month without ever leaving his office. He has purchased properties in 10 different states from his office in Lake Wylie, South Carolina. This is Larry’s second book. His first book, Getting Started in Real Estate Day Trading, which teaches how to buy and sell houses the same day using the internet, is available wherever books are sold. You can also get an autographed copy, which will include your name and a personal message from Larry at his website: www.HUDHomesHalfOff.com. Between speaking engagements and mentoring other investors, Larry oversees the daily operations of his real estate investment company that buys and wholesales 10-15 or more properties per month to other investors at 70% or less of the ARV (after-repaired value). Larry also rehabs some properties to sell at retail to owner occupants and keeps some as rentals as well. On a personal note, Larry and his wife, Pam, have two children, Linda and Noah. He is a member of New River Community Church in Lake Wylie, SC and occasionally plays guitar in the Church Praise Team. As a Husband, Father, Business Man and Real Estate Investor, Larry holds true to his core values and moral integrity. His personal and business motto is to “Put People and Principles Before Profits; When You Do That, Everyone Profits.”