Business Spotlight: Foreclosure Expert Levels The Playing Field For The Little Guy
Beverly Tabbs
December 15, 2008
Investing in foreclosure opportunities can be an incredibly lucrative experience. Knowing the various distressed property types, as well as the laws regarding them in each state, are the most important elements to becoming a successful investor.
Foreclosure opportunities comprise basically three property types, preforeclosure, foreclosure and Real Estate Owned (REO), all of which present their own risks and rewards. By doing your homework and capitalizing on properties as soon as possible, however, you can earn excellent profits on most investments.
The first stage of the foreclosure process is called preforeclosure. During this time, the property still belongs to the homeowner, but the lender has initiated foreclosure procedures because payments have not been made and the loan is considered to be in default.
This week we bring you a successful entrepreneur who is also a TV star. He rose from rags to riches. His name is Armando Montelongo. Armando Montelongo is the star of A&E´s hit show Flip This House. In just 5 years, he has turned his small family business in San Antonio into a major real estate investment firm.
A few of Armando's success tips include:
What is your reason "why" you need to learn to flip.
Learn to do deals from home.
Get past the belief that it takes money to make money.
Get Educated! It´s cheaper than the school of hard knocks.
Armando Montelongo also has a website www.armandomontelongo.com that teaches, among others, the secrets of house flipping. Montelongo is passionate about his success and has a burning desire to share his knowledge to those who are willing to learn. He also has educational home study courses.
Foreclosure opportunities comprise basically three property types, preforeclosure, foreclosure and Real Estate Owned (REO), all of which present their own risks and rewards. By doing your homework and capitalizing on properties as soon as possible, however, you can earn excellent profits on most investments.
The first stage of the foreclosure process is called preforeclosure. During this time, the property still belongs to the homeowner, but the lender has initiated foreclosure procedures because payments have not been made and the loan is considered to be in default.
This week we bring you a successful entrepreneur who is also a TV star. He rose from rags to riches. His name is Armando Montelongo. Armando Montelongo is the star of A&E´s hit show Flip This House. In just 5 years, he has turned his small family business in San Antonio into a major real estate investment firm.
A few of Armando's success tips include:
What is your reason "why" you need to learn to flip.
Learn to do deals from home.
Get past the belief that it takes money to make money.
Get Educated! It´s cheaper than the school of hard knocks.
Armando Montelongo also has a website www.armandomontelongo.com that teaches, among others, the secrets of house flipping. Montelongo is passionate about his success and has a burning desire to share his knowledge to those who are willing to learn. He also has educational home study courses.
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