How To Find Deep Discount Foreclosure Deals In Your Neighborhood

How To Find Deep Discount Foreclosure Deals In Your Neighborhood

You need to start by picking an area you know will be a great for rental properties (or if you'd like just pick an area you want to buy a discounted home in). Start your search by goig to www.AllNYlistings.com and having me email you these properties absolutely free (ONLY available for Brooklyn, Queens, and Long Island NY).

Once you've found the right town(s) you can email me and ask me to give you the average days on the market and the average dollar per square foot of these areas. This will help to determine if it's a high profit area - if looking for investment properties. Anything at 70% and you're golden!

OK... So let me paint the picture for you. Let's pretend we find an area you like were the average sq ft is 2500 (a 25 x 100 lot). These properties are going for $560k in todays market (this is just an example). That would give us a price of $224/sq ft.

Now stay with me cause I'm going somewhere with this. After going to www.AllNYlistings.com and signing up you get a property in your email inbox that is $156/sq or at an asking price (agreed by the bank) of $390k. That's $0.70 on the dollar and a grand savings of $170k.

This is how all real estate investors pick and choose which homes they are going to go after. They have Realtors do the research for them and then put in an offer!!! It's that simple.

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

Disclaimer: The above Real Estate information was provided by Vincent Martinez, Realtor for the #1 Real Estate offices in New York and the #4 office in the USA. Vincent Martinez is a Certified Realtor Short Sale Professional by the Long Island Board of Realtors (L.I.B.O.R.) and a member of Prudential Douglas Elliman - Licensed Real Estate Broker. Vincent Martinez does not guarantee or is any way responsible for the accuracy of the information in this blog post and information provided is without warranties of any kind, either express or implied. Information here represents the opinions and ideas of the author; comments by others may not express the views of the author. How To Find Deep Discount Foreclosure Deals In Your Neighborhood Copyright © 2009 By Vincent Martinez, All Rights Reserved.

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