This is an Investor-Ready Foreclosure. This house didn't sell at foreclosure auction and is now bank-owned, similar to an REO. Because the banks are anxious to sell these properties, they may be motivated to negotiate. We collect deal information from various partners, so the seller may not be familiar with MyHouseDeals when you contact them. The seller listed here is likely the Realtor representing the bank.
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About These Listings and Why They're Unique.
This site provides you with the list of "big equity" properties that savvy investors DO NOT want you to know about. They don't want the competition. It's a list that will enable you to reap huge profits, just like they are, from today's chaos.
This isn't your typical list of over-shopped and over-priced MLS listings, foreclosures, HUD homes, and REO properties. At most, those types of properties are discounted by 10% to 15%. Realtors may call that a deal. We call that "trash."
The properties on this site are under-shopped and, as a result, under-priced. They are "under the radar" so to speak. A majority of them are not listed anywhere else.
Most investors are unaware of this insider's list. And for you, that's a good thing. Less competition means bigger - often absurd - profits.
Most investors are unaware of this insider's list. And for you, that's a good thing. Less competition means bigger - often absurd - profits.
But most importantly, the properties on this site have big equity and bigger profit potential. Dozens of them are marked down by 30% to 40%. And dozens more have at least $20,000 in equity.
We provide you with two specialized types of properties:
Type #1: Wholesale Deals
These properties are for sale by other real estate investors. To clarify, the word "wholesale" doesn't mean "bulk." You buy each property individually. You just get a "wholesale" price. The investors who sell these properties want to pocket some quick and easy cash by selling you a fixer upper "as is."
You make bigger cash by buying, fixing, and re-selling. Or you can buy, fix, and rent. It's up to you. If the deal is right, you should come out on top either way. We compile this list by calling and emailing just about every real estate investor in town, asking them what they have for sale ... at a big discount, of course.
Type #2: Motivated Seller Leads
These properties are for sale by regular homeowners who are in a bad situation. You have more options when you buy motivated seller properties. You can work a short sale, take over their payments, wholesale it, rehab it, lease it, buy or sell on owner financing, or whatever else you can dream up.
Most of them are desperate to sell... and desperate to sell at a price that's way below market. You win by setting yourself up for a big payday. The sellers win by getting rid of a property that's been a thorn in their side. On this site, it's all about win/win, not taking advantage of others.
We get these leads by spending thousands of dollars per month in online ads that say "We Buy Houses." These motivated sellers fill out a simple form about their property. And if you're a registered user, we take that information and give it directly to you.
In the last two months, over 362 Houston-area deals have been posted to this site. Combined, these properties have had over $32,022,492 in equity.
Say goodbye to over-priced MLS listings and bank foreclosures. And say hello to big-equity wholesale deals and motivated seller leads!
Funding Options
- Private Money: Borrow money from a private lender. Each private lender is different, but these individuals typically offer much lower rates than hard money lenders. In addition, many allow you to walk away from closing with cash and/or defer all interest payments until you sell the property. You'll find a list of private lenders in our Resources section.
- Crowdfunding: Borrow up to 80% of the ARV with no origination fees up front. That means less money is needed to close. Faster and more flexible, there’s no waiting on investors, partners, or traditional lenders. Loans are funded immediately upon qualification so you can focus on what you do best... your project. Applications are quick and easy online. Click here to find out more.
- Hard Money: Borrow from a Private Hard Money lender. These loans are easier to qualify for, have low rates and fees and close in as little as 4 days, not 4 weeks! They are known for 100% funding of total project costs, no-prepayment penalties, cash-out loans for investment properties, fix and flip including renovation budget, as well as fix and hold with 30 year terms. Sounds too good to be true...but it isn’t. Click here to find out more.
- Long-Term Loan: Take out a traditional long-term loan from a mortgage company or bank. Unlike hard money lenders, these companies prefer to lend to individuals with good credit and a healthy income. The money is cheaper to get, but there are drawbacks. They are typically slow to fund your deal, and they tend to shy away from properties that need a substantial amount of repairs.
- Your Own Cash: Use your own cash. Those who have it generally prefer this method because it eliminates borrowing costs and speeds up the closing.
- Someone Else's Cash: Bring another individual into the deal who will either partner with you or be your private lender. If they partner, they will get a portion of the profits. If they lend, they will get paid based on an agreed-upon interest rate.
- Take Over Payments: Take over the existing mortgage "Subject To" the existing financing. This technique is much more likely to be effective for motivated seller leads as opposed to wholesale deals.
- No Money Needed: If you primarily pursue motivated seller leads and your plan is to wholesale those properties, then you don't need cash or financing. Information on how to do this is contained in the wealth-building course on wholesaling that comes with a Premium membership. This is how many investors get started in the business.
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