You are a new investor in Real Estate Business and you have got a bit of information about the foreclosure procedure. So I want to talk little bit about buying foreclosed homes and some of the ways that I think you can find some good deals that can be great fix and flip opportunities for you.
One of the things I think really important to realize is that foreclosure is a process not a single event. So as you think through the foreclosure process there are lots of opportunities for beginners as well as the experienced investors. So hard money lenders Georgia talk about foreclosure properties, and they would tell you about the first step, which is Pre-Foreclosure. It is actually a time prior to the actual foreclosure activity, which is going to take place. After the initial time period the actual Foreclosure activity takes place. Then the third step of Post Foreclosure happens, which is after the time when actual foreclosure has taken place. The properties auctioned in foreclosure activity are also termed as Oriel Properties.
Hard Money Lenders Georgiaasks you to find good deals for rehab real estate investors, and the ways to make desirable changes for customers. When somebody is going through any type of a change that is going to lead to some vulnerability, which is going to lead to then having a need and our job is to fill that need as a real estate investor. When we talk about foreclosures the first thing that is going to happen in a foreclosure is that borrower is going to get some type of a notice that they are in breach of the terms of the note and trustee or mortgage whatever it may be. When they receive that notice that is not a public notice so that is not something that just goes out and that does not get publicized. There is no way for you to know when initial notice goes out.
However, the next notice that goes out is going to be substitution of trustee or is going to be the demands or it is going to be a notice of default, which actually gets recorded at the County Recorders. If you have made a contract with Hard Money Lenders Georgia, then they would tell you about the County Recorders for your knowledge and experience. In some areas you may live there may be a service that will aggregate that information and give it to you that can be helpful or you are going to want to learn how your County Recorders works so you can get substitution of trustees or you can get notice of default depending upon what is being recorded and that is basically going to lead to an opportunity.
Those people are going to be good contacts for you to check in with and see what is going on and what they are planning on doing in solving their financial problem. You might be able to help them with a short sale, with the help of loan from hard money lenders Georgia. You might be able to just buy for cash. You might be able to help them out in some type of a way, get him out of property, fix the property up, and get it sold at a right situation.