Finding Big Value In Underwater Homes

Finding Big Value In Underwater HomesFinding Big Value In Underwater Homes

How can those engaging in the real estate market in Miami uncover big profits by creating more value in underwater homes?

Despite the South Florida housing market becoming sizzling hot this winter, there continues to be many

missed opportunities to find and con competing over REOs, auction homes, new MLS properties and foreclosures in Miami. As a result, there are still many great deals floating under the radar that could offer plenty of value.

Short sales are what come to mind when anyone mentions underwater homes. They are normally associated with getting a mortgage lender to accept less than what is owed in order to facilitate a sale. There are still many of these potential short sale foreclosures around Miami-Dade County, even though foreclosures here may be at a 7 year low.

However, there are also other reasons treate value for acquiring rentals and flipping real estate in Miami.Many investors are therefore focused hat a property owner can be ‘underwater’ or feel that they won’t pocket enough cash proceeds to make selling an attractive option. This can include a variety of liens, code enforcement violations, vendor’s mechanic’s liens and more.

What many don’t realize is that most of these items can be negotiated out for pennies on the dollar, creating equity and huge value for real estate investing in Miami. For example; negotiating an $80,000 lien down to an $8k payoff can create a lot of profit for an investor and maybe even enable the seller to walk away with some cash.

For busy real estate investing pros that like this concept, but are still desperate to maximize their time and cut down on hassle, already has an attractive line up of wholesale properties and recently renovated rental homes available for immediate purchase.

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