“Buy low, sell high”
That’s the mantra of being successful in investing and business. But in reality it’s easier said than done right?
Real estate and property is always going to be a popular investment asset class.
A great way to find low-priced properties, is to look for properties that are “distressed” or where the owner no longer has the ability to finance and pay-off the financing of their property.
Often these types of properties are re-possessed by the bank or financial institution that provided the original financing and are trying to sell it off as quickly as possible to get whatever cash back (foreclosures).
But foreclosures aren’t often advertised to the general public (at least not in an easily-accessible way).
It’s not impossible but not easy either.
…while I like to find resources that aren’t limited by geography so our international audience take advantage of these tips, the below resources are limited to properties in the USA and Canada (although, you might be able to make use of these resources even if you’re a foreign buyer/investor, ***check local regulations for foreign buyers/investors details).
GovernmentAuctions.org – this site has all kinds of property (not just real estate) for auction/on foreclosure and has Canadian listings as well.
Since most likely you’re buying distressed properties like these, you may not be able to get a “normal” mortgage from a traditional bank or financial institution.
You’ll most likely need to consider a private lending institution, but a word of warning about this, since these are private lending companies, they’re willing to take on more riskier loans but this also means it WILL cost you more ( a LOT more) in terms of interest.
So, as I always say, do your own due diligence and research.
I NEVER recommend you get into a situation of being over-leveraged (taking on too much debt you cannot feasibly handle). This can lead down a very dark path and the mission of this site is to help you grow your income not lose money.
So, you have been warned.
Get the Weekly Brain Buddha
Get weekly content on nourishing your brain and living your best life.
Each week covers our 4 Pillars: Your brain (mental wellness), your body (physical health), your money (personal finances & investing) and your relationships.
Not sure if The Brain Buddha newsletter is for you? Check out The Brain Buddha Manifesto (opens in new tab) to see if our mission resonates with you.