One very powerful money making technique used by foreclosure investors that requires no investment cash on your part is called 'assignment' or 'flipping'. It takes no special license and can put a nice chunk of cash into your pocket. The majority of the work done is in locating a property that fits specific criteria. The deal has to 'fit' to work in your favor.

This technique requires you first locate a property that is in the early stage of default, hopefully less than 30 days. Also you are looking for homeowners that have built up equity but for whatever reasons are unable to continue making payments.

So, you've found a homeowner who is currently paying $1,100 but can't afford to continue making the monthly mortgage payment. Liquidation is the homeowners best option and decides selling the property to you is the best way out.

You will make an offer at no more than 65% of the 'as is' value. To simplify lets say the house is worth $300,000 as is. You know this because of your 'due diligence' performing a thorough comparative analysis of comparable homes in the area. The payoff on the home is $175,000. You offer to buy the home for $195,000 ( 65% of the 'as is' value) which they gladly accept.

And why not? Selling you their property at that price would pay off the 1 month owed on the mortgage, stop the foreclosure process and give the homeowners some cash to find housing. You've just given them a strategy to salvage a potentially devastating financial situation.

The homeowner signs a contract to sell you the property.

Now what? Do you keep the property and fix it up for possible sale or lease?

NO - you decide NOT to keep the property.

WHY?

You have something in your hand that is extremely valuable - the contract to purchase a property at a price way under market value. This is the basis for 'assigning ' the contract.

You decide to look for an investor to 'assign' the property. Since the home will be worth $300,000 on the market do you think an investor that has more money than time would pay $195,000 for the right to own a $300,000 property? You bet, and within a short period of time incestor cash will be flying at you.

Of course, the investor that ends up buying your contract will pay $195,000 plus whatever you charge for your finder's fee. Say you charge 6% as your finders fee - you just made $11,700 for only a few hours work!

Not bad.

Why not learn the lucrative art of 'assigning' foreclosure deals? It's a great way to enter the world of foreclosure investing WITHOUT SPENDING ANY OF YOUR OWN CASH - Learn how to find these properties.

See the link below for more information.

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