Working Foreclosures and Preforeclosures Like a Wizard

What so nice about both foreclosures and preforeclosures is there's plenty of money to make in it. And sometimes you will find out that it's so overwhelming that you wish that you have more time to spend doing it. Just like any other business and investment programs, real estate foreclosure involves some effective time management.

Let me tell you from my own personal experience how I found out the hard way the importance of effective time management.

There are four step involved in foreclosure investing:

1. Find them
2. Fund them
3. Fix them
4. Keep or Sell them

That's it, only four.  But let's be grateful about it because each one of the steps you read will eat up a lot of your precious investing time.

Find them -  you will be inspecting countless homes whether they're bank owned or even for sale by owner (fsbo).  And you must know how much it's worth.  If you don't know value of any property you might as well throw your money away.   To know value will require some research time and lots of investigation.  This could be asking for "comps" from the real estate agent or even checking it online.  But to make it even more challenging for you, how about every single home you find will need a separate process of finding out how much it really worth.  So you need lots of time here and would be great to have an effective managing your time.

Fund them -  just about anyone who started the in real estate foreclosure investing didn't have the money they need the first time they buy property.  So if you don't have the money, you have to find who have them.   Who have the money?  You have the banks and hard money lender.  Here's an efficient and effective process is urgently needed.  If you don't have your numbers right when it comes to funding it, you could lose your shirt!

Fix them -  this right here could even make your knees shake because during the whole process of repair work or fixing around, every piece of work or repair equates to dollars that you will be spending. 

Sell or Keep them -  you have it all fixed up and ready to go for the harvest.  Now you will have to determine which way would be beneficial to you either sell or keep that home. 
 
Basically, each one of the steps mentioned have to be done correctly and smartly.  You overlooked or even didn't spend enough time planning for it, you could be in financial trouble.

The good news is there's an awesome foreclosure software that give the solutions to all of the challenges mentioned above.  Thanks goodness!

And to make it even better it could free up lots of your time because this particular software helps you accomplish all of the following process in less than an hour.

• Identify the fair market value of the property.
• Determine the approximate profit potential.
• Calculate on-going monthly cash flow.
• Estimate repair costs.
• Conduct a second “profit screening” test  to ensure that the prospect can meet your minimum profit expectations. 
• Calculate a purchase price that locks in your minimum profit.
• Calculate the new market value and purchase price if the property is a fixer-upper so that you still make a even bigger profit (more of that later).
• Create a profile of each prospect so that you can view important information on one page.  

• Activity scheduler automatically reminds you which letter to send to which seller, and on which day (it can't be any easier).
• The "Pro-Version" lets you quickly add your favorite prospecting letters to the Foreclosure wizard and print them automatically - without having to deal with confusing exporting tasks.  This feature alone is one-of-a-kind.  One effective way of finding preforeclosures is to send letter to defaulted homeowners.  But when you're dealing with numerous names and keeping track of all these defaults, it's just overwhelming.

When I found out about it the first time, I was like "Man! I could have made more money and even devote some of my time to other fun times". 

But it's like good movies, there's happy ending.  And this foreclosure-preforeclosure software is amazing!  So if you would like to put your foreclosure investing profits and push it to the metal…I highly recommend this "Foreclosure Wizard".