How To Find And Buy A Foreclosed Home - YouTube

How to find and buy a foreclosed home.  

Oh, yeah. You heard that right. There are  so many opportunities for you to buy a  

foreclosed home for pennies on the dollar.  And I am going to show you how. Let's go.

I'm going to share with you a detailed  step-by-step process on how to buy a foreclosed  

home. I'm going to share with you the top 3 places  for you to look to find the best properties.  

And last but not least, I'm going to share with  you some secret ways to get a foreclosed home  

without spending any of your money. So, there are  so many benefits to being a real estate investor.  

I have increased my net worth by owning  properties. I have been able to leverage  

those properties. Meaning, I could borrow  money against them to buy more properties.  

I have created income and cash flow for myself  with my rental properties. And I've even made  

tons of money fixing and flipping properties that  I got for pennies on the dollar. So, again, being  

a real estate entrepreneur has changed my life.  And investing in real estate has so many benefits.  

It is still the number 1 way to wealth. did you  know that 89 of all millionaires were created so  

through real estate. Well, it's true. It was true  100 years ago and it's still true to this day. So,  

let me tell you how you can get in on all of this.  So, I absolutely love foreclosures. If you don't  

know what a foreclosure is, that is a property  that the bank took back because the person did not  

pay their mortgage. Okay? They defaulted on their  mortgage payments. So, when you purchase a home,  

most people get a mortgage. Meaning, they take  out a mortgage payment, they put down a small down  

payment. And then they make mortgage payments to  the bank. And if they do not make their mortgage  

payments, usually after about three or four  missed payments, the bank will foreclose on them.  

Meaning, they will take that property back and  that person will be evicted out of the home. They  

will have to leave that home and the bank will  retake over that property. And this is an awesome  

opportunity for real estate investors. I know it  sounds terrible. It means someone got kicked out  

of their home. But this is an amazing opportunity  for a real estate investor because this is how  

millionaires are made. Take it from me. I  literally was on the other side of foreclosures  

for way too long. Many of you guys know I  started from my parents' basement in 2009-2010  

after we lost everything in the financial crash.  I literally had multiple foreclosures, bankruptcy  

and I had to live in my parents' basement just to  make ends meet. Well, it was actually foreclosures  

that got me out of their basement too. It was a  foreclosure that got me in their basement and a  

foreclosure that got me out of their basement.  Let me tell you that part. Like I said, because  

in a foreclosure after you stop making your  payments, the bank will take the property back.  

This is an amazing opportunity for real estate  investors. But there's a better opportunity.  

There's an opportunity to help people. And this is  how I got out of my parents' basement. So, I got  

a coach when I was living in my parents' basement  just because I didn't want to fail at real estate.  

And I wanted to figure out what I had done wrong.  Well, I found a coach that told me I needed to  

focus on property problems. Specifically, people  that were in foreclosure like me. People that were  

behind on their mortgage payments and they were  about to lose their home. He told me I needed to  

send them letters, put out signs, run ads and say,  "Hey, are you behind on your mortgage payments?  

We can help." And I would call these people or  they would call me from the advertisings that I  

sent out. And I would help them avoid foreclosure.  And in return, I was making tons of money. Whether  

I kept the properties which in the beginning I  couldn't because I had bad credit and no money.  

But in the beginning what I did was call  wholesaling. I would flip those contracts  

to investors that wanted to keep them for fix and  flips or for rental properties and they would pay  

me a fee for marketing. Because I was the one that  found the person, talked to them, got them to say,  

"Yeah, I'm going to move out of the property  and I'm going to sell it to an investor."  

They would pay me a fee. Additionally, it was so  awesome because I was helping people. Like I said,  

I had ended up in my parents' basement with  no properties. And now, I was able to help  

people avoid that process altogether. They did  not have to go through the embarrassment and  

the humiliation of getting foreclosed on. They  literally could sell that property to an investor  

and move out to another place without having their  stuff thrown out or having their credit ruined. It  

was awesome opportunity for them, the person that  was in foreclosure, me --the person helping them  

and the end investor that was going to buy the  property and make it a fix and flip or a rental  

property. So, it's a win-win altogether. So,  let's talk about how you can do it. The reason  

that foreclosures are awesome especially if you  can get to the person before the bank actually  

takes the property back is financial distress  is a good thing. Honestly, financial distress  

opens people's minds. Once you're behind on your  mortgage payments and the bank is threatening to  

take the property back, many people are open to  listen to different ideas. They already know what  

one option is. Okay, I can ruin my credit and let  the bank take the house back. Or I could sell this  

house to an investor and not ruin my credit.  Hmm, which would you choose? So, it became a  

really easy process to explain to people because  I understood what happened during a foreclosure  

and after a foreclosure. And it was not pretty.  So, I became such a great person to help people.  

And you could do the exact same thing. It's super  inexpensive to start marketing to these people.  

Like I said, you can put out signs. You can send  letters. You can do ads on Facebook. You can do  

a myriad of things. In fact, I made an entire  video where I teach you all about how to market  

and find these properties. I'll make sure to put  a link here and in the description box for you to  

watch that whole playlist. And this is amazing.  You need to get in on this because foreclosures  

will allow you to start getting properties  sometimes for just the amount that the person  

is past due through a process that we call  subject to. You may be able to just buy the  

property for the past due payments, the person  moves out and then you take over the payments.  

Super simple. So, let's talk about where you will  find some of these people. Before the person goes  

into foreclosure, you can start finding them on  sites like Zillow. Zillow has a link where you can  

look for properties that are for sale and then you  can click a box that says "pre-foreclosures". And  

in many cases, these will be people that have not  officially been foreclosed upon. They are people  

that are in the foreclosure process. Meaning,  they are in default of their mortgage payment  

and they will soon be in foreclosure. So, these  are the people that you need to reach out to and  

they are the lowest-hanging fruit. Super easy to  start talking to and let them know that you are  

connected to a network of real estate investors.  And we are interested in buying more properties.  

This is an amazing way if you want to keep  properties for yourself. If you want to keep  

the property, you can just get a mortgage you know  apply and then buy their property and of course,  

they're going to sell it to you at a discount. Or  you can find these people and flip those people to  

investors like me who will pay you a fee for doing  so. So, another great website besides Zillow is  

county websites. Basically, what Zillow is doing  is they are pulling county records. And they are  

pulling records of default. So, when someone gets  behind on their mortgage before the foreclosure,  

in most states, they will file what's called a  notice of default. If the person has received a  

notice of default through the public court system,  you can access those records, you can call those  

people mail them letters or do whatever you need  to reach out to them and start getting those  

properties from them so they do not have to get  foreclosed on. That's another great website. And  

then another great website which is absolutely  free of course is craigslist. You can also do  

for sale by owner website. So, what you want to  do is start googling for sale by owners and put  

your city and state. This will give you a list  of different websites that have people that want  

to sell the property by themselves without a real  estate agent. Many of them will be in foreclosure,  

okay? You can also cross-reference the list  of people that are selling homes themselves  

and cross-reference that list with the county  record so that you know the people that are in  

default and those are the people that are going  to be the most interested in letting you buy their  

foreclosed home. Now, of course, you could also  buy a property after it's completely foreclosed  

on and those are bank-owned properties. Now, I'm  going to give you a warning. I don't necessarily  

like buying bank-owned properties. Once the  property has gone through foreclosure and the  

bank has regained the property, they are now  the owner of that property. And essentially,  

they are the seller of that property. They're not  much different than any other seller. They're a  

bank. And in fact, many banks have lots of  money more money than sellers. So, the key  

to making this work and how you really want to buy  a foreclosed home that you can get for pennies on  

the dollar is getting the person before the person  goes through the entire foreclosure process.  

Get the property before they are foreclosed  on. Get them while they're still behind on  

the mortgage payments. That is the easiest way  for you to negotiate directly with the seller  

and be able to get some creative financing  that doesn't require you to go to a bank. So,  

I have created an entire training where I teach  you all of this and more you can get this training  

absolutely free at noelsfreetraining.com.  That's noelle (n-o-e-l-l-e-s),  

NOELLESfreetraining.com. I've created an  entire course that's over an hour long and  

it's absolutely free teaching you my exact  formula for making money in real estate with  

little to no money. Check out that training so  that you can have all of the tools, all of the  

knowledge and all of the resources that you need  to be successful. This is Noelle. To your success.