Get Rid of Foreclosed Homes


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Some people may protest, but the best idea for many real estate investors is to tear down most foreclosed homes. Why? Many foreclosed homes are vacant or abandoned. These homes often get stripped of valuable materials and fall prey to criminals, rodents, and squatters. Gradually, they decline in value and require lots of money in repairs and taxes.

The bad thing about these homes is that they drive down the value of the neighborhood as well. This decreases the tax base for the community and causes others to lose their jobs.  The cycle keeps repeating itself.

Instead of letting the cycle repeat in your town, real estate investors can actually break the cycle. Start by hiring a large group of currently unemployed individuals as your demolition crew. The good news is it doesn’t take a rather large amount of education to tear apart a home. The demo crew can take apart those properties that are actually worth less than the land they are on. This creates jobs in your community and keeps the property values in your from plummeting anymore.

How to Choose

While there are homes that can be torn down, there are also homes that are certainly worth investing in and keeping. The location of the home, property condition, and the real estate market condition will help you determine if the property is a tear down or not.

The location of a property is extremely important. Homes in good areas or close to amenities are more likely to sell or rent quickly. Homes in poor areas or extremely busy ones are less likely to rent or sell.

The location ties in greatly with the condition of the current real estate market. If the market in that area is extremely slow or going down fast, any homes in that area will not be good investments and should probably be torn down. Markets where homes are selling quickly are good locations to keep properties

Property condition is important. It determines how much work will need to be done before the home can be sold or rented to generate income for the real estate investor. If a home needs very little work, that means it can put on the market for sale or rent quickly. A home in poor condition must have a lot of work done and may require quite a healthy time and money investment before it ready to go on the market.

If the property is in a good location but in poor condition, that home is a good candidate for tear down. If the property is in a poor location and the real estate market is poor, that house is a candidate for tear down. If the market is good and the property is in good condition, that home is a keeper.

For more information on real estate investment, visit us at Homevestorsfranchise.com. We are the nation’s number one home buying franchise. We have a ton of real estate investment and real estate franchise opportunities available. Call or visit us today to see what we have for you!

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