Foreclosures

7 Foreclosure Myths

Missed a payment or two? Already facing foreclosure? Don’t wait – call Myke at 979-693-0201. Let us help find the best solution for you.

Start looking for that great deal in College Station and Bryan, Texas foreclosures today!

Netronline.com – Find property information, including tax records, from anywhere across the country.

Fhfa.gov – Check the current house price index, find market data and housing market indicators, and more.

Loopnet.com – Browse commercial real estate listings.

Check out investment articles and guides at REIClub.com.

Creative Real Estate Online – Go to the “Real Estate Investment Clubs” section, select Texas and get details on the club in your area.

Asset Protection – Get answers to your asset protection questions from other investors as well as experts.

This quick-start guide for investing in Bryan/College Station real estate, including Bryan/College Station foreclosures, is brought to you by Michelle “Myke” Leatham.

1. Define Your Goals

Ask yourself why you’re investing in real estate. Take a look at some typical first-time investor objectives below and note that each will need a different strategy.

• Get rich quick – Okay, so this isn’t going to happen. Successful real estate investment requires hard work, patience and capital. Still, you can definitely expedite things and we’ll show you how.
• Increase cash flow or add to your monthly income – You’re ready to make your money work for you à la Rich Dad Poor Dad. It’s a strategy worth pursuing, just make sure you’re investing in the right properties and that you won’t be paying too much. When you buy in Bryan/College Station, for example, you can survive even in a down market as you can rent out the property. Myke can advise you further on how to maximize your properties’ cash flow.
• Build wealth – Whether it’s for your retirement or for your kids’ futures, real estate makes for a great long-term investment since it (almost) always appreciates. Don’t just buy indiscriminately, however. Do your research and choose the best properties.
• Be your own boss – This is certainly possible, but don’t quit your job just yet. Hold on to it while you start the process of investing in real estate and educate yourself in your spare time on the Bryan/College Station market, its trends, and potential risks. Myke will be your guide.

2. Narrow Your Focus

In real estate investment, there are more ways to lose money than to make it. You have to find the right niche and put in the time and energy needed to become an expert in it.

3. Network!

Knowing who to rely on if you need a contract looked over or the wiring checked is invaluable. Ask for referrals and build good working relationships. Check out the ‘Resources’ page under ‘Community Info’ at  www.CollegeStationHomes.com for area contractors, handymen, cleaners, and so on.

4. Look for Opportunities Close to Home

Discover what opportunities your local area has to offer first, especially if you’re just starting out. If you purchase property that’s miles away, you’ll waste a lot of time and energy on travelling, which you could’ve spent on property management.

5. Look Around Now

Not ready to buy yet? That doesn’t mean you shouldn’t keep an eye out for deals. Check out our ‘Featured Properties’ page and use our search tools to start looking for properties today.

6. Don’t Stop Learning

Educate yourself at every opportunity. Read, go online for the latest updates, take a closer look at the area/s you’d like to invest in. If you’re from out of town, ask Myke for detailed property pictures. You can rely on her unparalleled knowledge of the Bryan/College Station area and the market conditions here.

7.  Get Pre-Approved

(Unless you don’t need a loan, that is.) This way, you’re prepared to make an offer once you find the right property. You won’t want to miss out on a deal just because you don’t have the financing in place.  Lenders are required to give a Good Faith Estimate so you can shop around. The Consumer Financial Protection Bureau can answer many questions about getting a mortgage loan.