Good friends of our business, Kent and Tina Spencer of MLA, Inc. Mortgage Bankers, recently added a new member to their team.

Ava Catherine Spencer–all 5 lbs., 14 oz, and 19 inches–was born on November 11th of this year.

Here’s wishing Kent, Tina, and Ava the best…now, always, and forever!

With foreclosures on the rise, particularly in economically distressed areas, real estate investors can scoop up properties at a bargain. You can dip in at any stage of the foreclosure or bankruptcy stage:

• Pre-Foreclosure: Approach the homeowners with a proposal prior to the foreclosure sale.
• Foreclosure Sale: You can bid at the foreclosure sale against other investors.
• Post-Foreclosure: Buy the property from the lender’s REO (Real Estate Owned) department after the foreclosure sale.
• Bankruptcy: After the foreclosure sale, the owners still retain control of the property through the redemption period (typically 3 to 12 months in most states). The owners can file for bankruptcy to buy themselves additional time. As a real estate investor, you may be able to step in at this stage to acquire the property.

If you don’t know what you’re doing in the foreclosure arena, don’t step into the ring. Losing money in foreclosures is a lot easier than making money. Do your homework before you lay down your cash.

Probing for Probate Properties

Death often leaves behind property that ends up in probate. You can find out about probate properties in any of the following ways…

For more information on how to forage for foreclosures and bankruptcies, click here.