New Western Acquisitions Realty

Investing in Houston investment property has become a hot favorite of most real estate investors in America. Since the 2008 recession, foreclosures have been on a sharp rise and can be available at deep discounts.

However, how can you buy these properties?

Foreclosed properties can be bought at three stages:

• Pre-Foreclosure: In a bid to avoid the social stigma associated with the foreclosure process, home owners sell the property directly to the buyers pre-foreclosure. You can make a great deal with these home owners; as they are in a hurry to sell the property and clear their dues. They are ready to turn over the keys and get out from under the burden of the homes financial responsibilities. They are ready to give you the responsibility of restoring the home and bringing it up to code.

• Auction: When the home owner defaults on making his mortgage payments, the bank or lender forecloses the property and sells it at an auction. You can buy such a property at the courthouse steps, and they are often sold at below market prices. However, the biggest disadvantage with an auction purchase is that you cannot inspect the property; the owners are typically still residing there. Yet another problem that could arise later is getting the property vacated.

• REO properties: If the property does not have a buyer at the minimum bidding price; then the property is re-possessed by the lender or bank. He would then sell the property in a bid to recover his dues. The biggest advantage of buying REO properties that they are free from tax liens, debts, etc.You can buy foreclosures at any of the above stages and enjoy successful foreclosure investing. 

You would have read and heard about the success stories of innumerable investors earning attractive profits in Houston real estate investing. However, do you know about the role played by real estate wholesalers in their success?

Real estate wholesalers have incepted with the objective of providing real estate investors with knowledge, opportunities and resources required for successful real estate investment.

Here are the multiple roles they play:

• Scanning newspapers and television ads is not required. Real estate wholesalers boast of massive property listings, from which you can definitely find something that matches your investment goals, expectations and limitations.

• Finance is the biggest obstacle in real estate investment. If you are not a cash-rich investor, real estate wholesalers introduce you to other available financial solutions.

• For rehabilitation of distressed properties, fine tradesmen and contractors are a must. While investors may not have access to efficient people, real estate wholesalers can lead you to them.

• Once the property is rehabilitated, it has to be sold. Yet another hunt for a prospective buyer or tenant begins. The real estate wholesalers even assist you in selling or renting out your rehabbed property.

• Foreclosure investing is governed by certain laws. While investors may not be aware of the same, real estate wholesalers educate them about these rules and laws.