Frequently Asked Questions About Foreclosure Properties & Real Estate Investment Property
Click on a question below to see the answer, or just scroll down the page:
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1. What is a foreclosure?
A foreclosure is the forced sale of a piece of real estate to repay a debt that is owed to either a lending company or the government. I will teach you how to purchase properties before a foreclosure auction which is referred to as a Pre-Foreclosure, at the foreclosure auction, and after the foreclosure auction which is referred to as a bank foreclosure or REO.
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2. What are distressed properties?
Distressed properties are any type of properties that need to be sold fast. Any property that needs to be sold fast is always sold at a deep discount. Distressed properties include:
Foreclosures:
In every stage of a foreclosure, the property needs to be sold fast. If it is a pre-foreclosure, the homeowner needs to sell fast or else he or she risks losing their home to a foreclosure auction where they will lose their equity and ruining their credit completely. Homeowners are in a race against time and because of this they are willing to sell their homes at deep discounts. Or if it’s at a foreclosure auction, the property needs to be sold to the highest bidder. Tremendous deals are found at foreclosure auctions. Or let’s say no one bids for the property at a foreclosure auction, the bank then gets the house back. These foreclosures are REOs or bank foreclosures. Banks hate when they get houses back because they are not in the real estate business; it costs them money to hold onto properties and because of this, they need to sell their inventory of houses fast even if they stand to take losses.
Probates:
Probates are houses that are inherited by people after one of their loved ones’ pass away. You can get probate houses at very low prices because many people who inherit them just don’t want them. Most people who inherit properties are highly motivated to get rid of a house -- even if it means they must sell it for a fraction of its value. Just to give you an idea, I recently purchased a 3-family brownstone near New York City for $450,000. The market value of properties in the area is $1,200,000. Instead of selling it right away, I decided to hold onto it for another year because values in this area are skyrocketing.
Divorce:
In the United States, 1 out of every 2 marriages ends in divorce. Think about it; most of the time when a couple gets divorced, their home and other real estate needs to get sold in order to distribute the proceeds of the divorce. Some of the best deals are found in divorce situations. Take me for instance, I purchased my personal home for $760,000 through a couple that was going through a very messy divorce. The appraised value on my house is $1,325,000. Did I get a deal or what? Deals like this are out there in great numbers but the secret is knowing how to find them and the money to purchase them.
Out of State Homeowners:
There are an incredible amount of people who are relocated by their employers everyday. Have you ever tries to manage a property from thousands of miles away? It’s a huge headache! Or better yet, people need to sell their home fast because they need the money to buy a new house close to their job. I can show you how to easily locate these out of state homeowners and purchase their properties for 40%-50% below market value.
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3. Who is Steve Maletos?
I’m 31 years old and live in Montville, NJ. I started investing in foreclosures and distressed properties back in 1997. Before I started investing in real estate, I declared Chapter 7 bankruptcy and lost my home to foreclosure because I wasn’t able to pay my mortgage payments. I decided to get into real estate after I lost my home to foreclosure and after meeting the investor who purchased my home for literally 45% below market value. I couldn’t believe how much money someone could make investing in foreclosures.
When I decided I would make my fortune in foreclosures, I purchased every real estate course on the market. I needed to learn how to buy and sell foreclosures profitable. But after reading all the leading courses on the market, I learned nothing. All those courses contained just plain real estate facts and definitions. None taught me how to locate properties for pennies on the dollar. None taught me how to find the money to purchase the properties. Remember I had terrible credit. The bottom line is that not one course taught me what I needed to know to start making money fast. There was no plan of action. I realized that the only way I was going to make it in this business is if I learned it first hand. Well, after taking some loses in the beginning, I put together some sure fire methods of making money in real estate. For the past 7 years I’ve been milking giant profits from foreclosures and other distressed properties just by using my one-of-a-kind real estate investing methods.
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4. Do your real estate investing methods really work?
Absolutely! I guarantee you that you will be blown away with what you stand to learn from me and you will not find it in any other real estate program. I made over $600,000 last year working no more than 5 hours a week. Just take a look at the amount of profit that my real estate methods produce. (Click Here)
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5. How reputable is your company?
EMC Investment Inc. d/b/a Fast Cash In Foreclosures is a registered corporation in the state of New Jersey. We have been offering our real estate program to the public since 2002 and are a member of the New Jersey Better Business Bureau. Feel free to look us up.
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6. How does Fast Cash In Foreclosures differ from every other foreclosures course on the market?
My program is not a real estate book full of definitions and real estate facts that is found in 99% of courses. Fast Cash In Foreclosures is a detailed plan of action that has been proven to produce results within 45 days by thousands of people across the country. It was designed for both beginners and real estate professionals. Unlike other courses, you will never need to buy any other real estate course besides this one.
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7. How long does it take to start making money in real estate investment?
Let me be honest with you. If you decide to start “assigning” or “flipping” contracts to other investors for a quick profit, you can expect to receive your first check within 45 days of starting my program. However, if you decide that you want to make a lot more money and buy the property yourself and sell it at market value; you can expect to receive your first big payday in 90 days just by using my fast selling methods which are only found in my program.
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8. How much money can I expect to make on my first house foreclosure?
If you plan of “assigning or flipping” contracts using the same methods I teach you, you can expect to make $5,000-$50,000. I you decide to buy a property using one of my foreclosure lenders and resell it at market value, you can expect to make between $15,000-$150,000+ depending on what part of the country you live in.
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9. How do I find real estate investors to “assign” or “flip” my contracts to?
They are everywhere. Please understand; most real estate investors don’t have the slightest clue of finding good properties. They will not have your training and will not be able to find properties with as much profit potential as you will. To make your life that much easier, I’ve included a state by state real estate investor directory so you can “flip” your contracts with the greatest of ease.
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10. What if I can’t sell my foreclosure property?
This is a big fear that most people have, but you should not be worried about that. The beautiful thing about my program is that it teaches you to sell your property within 3 months even if our economy is in a recession. My system of selling properties within 3 months is very unique and creative that it has yet to fail me. Even my attorney cannot believe how fast I sell my houses. It takes most real estate investors 6-12 months to resell a property. Stick with me and I’ll teach you how to resell your properties within 3 months.
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11. How much money do I need to invest in this business?
You can secure bank foreclosures, pre-foreclosures, and other distressed properties deals with a $100 contract deposit. And once you secure the property, you can either assign the contract to another investor for a quick fee or if you want to make even more money, you can use one of my foreclosure lenders to lend you the money to buy the property and the money for all the repairs. The choice is yours!
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12. How do I find the money to purchase these properties?
Very easily. If you decide to specialize in “assigning” contracts to other investors for fees of $5,000-$50,000, you will not need any money because you will not be purchasing the property. However, you will be obligated to come up with the initial $100 contract deposit. If you decide to purchase properties and sell them at market value for profits of $15,000-$150,000+, then I will show you how to borrow money from my foreclosure lenders. A nationwide list of foreclosure lenders is included in my program. I’ve been purchasing properties with no money down for years by using my foreclosure lenders and I’ll show you how you can do it too.
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13. Do I need good credit to start this business?
No. Remember, I started in this business with terrible credit including a Chapter 7 bankruptcy plus a foreclosure. It can’t get any worse than that, but the great thing about my system is that credit is not an issue. My foreclosure lenders lend money based on the property’s equity or worth.
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14. What if I sign a contract for a property and later decide that I don’t want to go through with it?
Don’t worry! In my Fast Cash In Foreclosures program, I include a carefully crafted Real Estate contract that contains an escape clause for you. If for whatever reason you need to back out of the deal, my carefully crafted contract allows you to do so without getting sued.
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15. How do I fill out a Real Estate Contract?
Believe me, I’ve got everything covered. In my program, I go over a contract in great detail and show you how to fill one out with the greatest of ease. Remember, my program was written for both beginners and experienced investors.
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16. How many hours a week do I need to spend in order to become successful?
If you spend 5-7 hours a week, you can clinch your first big check within 45 days. Take a look at me for instance; I work no more than 5 hours a week and make over $600,000 a year investing in foreclosures. Obviously, the more time you spend in this business, the more money you can make. There is no limit of how much money you can make.
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17. Are there a lot of people doing this business?
No. There are a lot of people looking to get into real estate but only 1% is actually knowledgeable enough to buy and sell properties in a profitable way. Most people who try to get in the business learn from people who actually don’t know the first thing about real estate investing. As a result, beginners in the business are bound to fail. It has been proven that my students have a great advantage over the rest of the real estate investing world.
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18. Do I need a real estate license or any experience to do this?
No. You only need a real estate license if you are buying or selling a house for someone else and getting paid a fee. When you invest in real estate, you are buying and selling for yourself. No real estate experience is required. My course was meant for both beginners and real estate professionals.
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19. How long will it take for me to get started once I get the course?
My program is designed for you to start looking for properties within a day of receiving my program and collecting your first big check within 45 days.
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20. What will I learn from your program, "Fast Cash In Foreclosures?"
...see Program Details about what you'll learn
 Order Your Copy Of Fast Cash In Foreclosures Today!
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