Has anyone gone to foreclosure seminars and gotten anything out of them?
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Answer:
Mostly you come away with a light snack and a sales pitch that is going to cost you several hundred dollars and it is very unlikely that you will make it back.
If this was truly a real money making business why aren't there more millionaires around. Sure you can make some money in that market and you will learn some fundamentals from the seminar but the odds of you making any real money is against youPP
The way to learn is to talk to someone who has done some Foreclosures. There is lots of information that you have to research prior to the purchasing of one. I am in the process of pursuing on myself, lot's of research but it is worth it.
landstonegsl@yahoo.com
All the information is publicly avaiable and you could probably do a lot better by doing some internet research and talking to a lawyer for an hour about how the foreclosure rules in your state work, and how to finance foreclosed property. Even if the lawyer charged you for the consultation, which many won't because you will need to have a lawyer on retainer if you get into this type of business, you will come out much much cheaper, and much more informed. Many of these seminars are a scam, and the others simply don't have very high rates of sucess for their customers. That is why they always say results not typical on the infomercials when they are showing the people who got rich overnight using the system they are selling.
Foreclosures are VERY SIMPLE. It is hard to know what a seminar would tell you. At a foreclosure sale, the property is sold to the highest bidder USUALLY FOR CASH. If you are the high bidder, you become the owner of the property. You may have to evict the former owner which can take time and money for legal fees.
In some states the former owner can redeem the property for a period of time. That means that you can not sell the property for the redemption period as you can not get title insurance.
If the foreclosure notice has been filed but the foreclosure has not been completed, you can buy the home BUT you must usually pay all past due payments and foreclosure costs OR the foreclosure will take place and you will loose the property.
BOB F
The best way to purchase Real Estate and make money is to find a GOOD real estste agent, tell them you are interested in buying property that has equity in it. A good experienced agent is going to be able to help you with this because they know the market. There is so cost to the buyer because commissions are already buit in. Forclosure doesn't always mean a good deal. All it means is that someone couldn't afford to keep the house.
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