California saw slowed foreclosure activity across the board. Notice of Default filings fell for the third consecutive month after a slight 1.5 percent drop in June. Notice of Trustee Sale filings were down in June as well, with an 11.7 percent decline month-over-month and a 34.3 percent drop from June 2010. Cancellations of foreclosure sales decreased for the second time in as many months, with a 3.0 percent drop compared to May. Foreclosure sales on the courthouse steps were slower than the prior month, with 13.4 percent fewer sales Back to Bank and 7.1 percent fewer foreclosed properties Sold to 3rd Parties. For the first time in six months the average time to foreclose decreased, down 7.9 percent to 317 days month-over-month but remained up 21.5 percent as compared to this time last year. Third parties continued to resell inventory more quickly, with the time to resell down 1.5 percent month-over-month to 131 days, clearly outperforming banks, which took an average of one hundred days longer at 231 days to resell inventory (REO).
In today’s real estate market if your a investor everyone should have a mentor. A real estate mentor is someone that has extensive experience in the real estate investing world. Whether you think you know it all someone always knows a little more. So, if your just starting out it is very important to get a mentor and avoid costly mistakes.
Becoming a Real Estate Investor is a daunting task. What’s worse is you see billboards
and ads everywhere telling to invest in this, and buy that! No one seems to have a clear answer
on how to get started. Where do you go? Why should you talk to? How much do I need?
So how would Home Investing group teach someone how to get started in real estate investing?
Well, first I would only focus on single family home, residential houses: 3 bedroom, 2 bathroom
house. Anywhere between $100,000 and $500,000 liquid cash for the house and we would buy
it anywhere where we feel the most sales are taking place in that area so we can buy, rehab and
sell it as quickly as possible.
But we would never suggest someone who has never been involved in Real Estate Investing
to just jump into it by themselves. You always want to go with a professional, like us, when
you first start. Why? Because we do all the heavy lifting. We seek the property, we have our
own construction crews and we get it done from start to finish. If you were to do it yourself, you
would have spent hours ever single day of the week on getting it done. Then you would have to
have experience and going in, knowing how to rehab, knowing the marketplace, and knowing
the return on investment. This takes a while to learn. Why take all this extra time to learn
something on your own; when you can partner with us and get a superb return on investment, as
well as learn the in’s and out’s of investing in real estate.
The first step in getting started is to call us. We will talk on the phone and get to
know other.. If we feel it is a match, we will put you in our preferred investor list and let you
choose from our properties. In the end, it is up to you. You can get a 15% to 50% return on your
money. Your money is secured by real property. We will give you all the comps and provide all
What are some other tips? These properties are bought cash. Asset managers don’t
want to deal with financing. They want to get these houses of the books as soon as possible and
deal with less contingences.
Do the research! Always do your own research into your investments.The research you do; the less money