Foreclosures are so sad. Every one of them has a heartbreaking story behind it. I pray for anyone going through a tough season in life. Have faith that your best years are yet to come and God will return everything lost and taken from you 7 fold.
No, not EVERY. Plenty of willfully ignorant, irresponsible, or downright criminal acts that have caused many foreclosures. Self-inflicted wounds do happen.
@@brandonreiser7739 "Self-inflicted wounds." You got that right, buddy. LOTS of foreclosures are on there way in about a year. Elections have consequences.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets like gold or crypto. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
The only time in recent history housing prices went down was in the early 2000s when the housing market crashed. The market corrected itself after over pricing houses. The price of homes will not be going down. Pay off ur debt save down payment and understand u may not be able to afford a 2k sq ft home in the burbs
@@TheRealWayneTurner Good evening Wayne, i submitted a form twice already to get some help buying a property but haven't heard back. How can i get in touch with you? Thank you!
When I was selling HUD homes back in 2012-2015, HUD had a company that winterized the home and as long as there was no pipe damage or electric issues, you would fill out a form and pay the company to de-winterize the home for inspections then come back and re-winterize the home after the inspection. It would cost about $150. NEVER had them just outright deny that service being performed. Also, HUD and most banks would give you 7-10 days for inspections. They will not repair anything but they cannot deny you the opportunity to inspect the property. Always get preapproved before going to shop for a home. Many agent, as I do, require a preapproval before you go see the first home. Getting a preapproval before home shopping gives you a budget in which to search. There is no need to look at homes above that budget.
Mortgage underwriter here for 35 years. I've purchased 2 Hud foreclosures that the foreclosing lender did all repairs, including painting the house & new carpet. They also paid closing costs on both of those properties
Realtor here. Back during the foreclosure crisis, HUD and other lenders would not repair the homes at all but towards the end, they realized they could get more money by doing some basic repairs and cosmetic work such as flooring, painting and newer appliances. This would bring in more buyers with FHA loans. Some HUD homes just had a repair escrow that would need to be worked into the loan or the buyer would need an FHA 203k loan for repairs.
I bought our first home sight unseen at a sealed bid auction for 20k. Sold it 7 years later for 95k, but back then in 75 the government replaced the furnace, carpet and painted it.
My first home was a HUD foreclosure in Orlando. I paid $52,357. Only bidder. I like to say you could smell it before you saw it. But, I worked hard on it and sold it for $98,000 two years later with about $10,000 in expenses.
The first house I bought was a short sale. It took 10 months so it should been called a long sale. Anyways we had an FHA loan and when we had the inspectors go in they said they needed repairs or they would not approve the loan. So we ended up doing the repairs ourselves before the house was even ours. Just so our loan was approved. It took 10 months. We eventually got the house.
@@TheRealWayneTurner I'm working on my house currently in Sacramento and I'm getting ready to put it on the market by March and then I'm going to look for a dumpy little mobile home somewhere on an acre or half an acre. I don't care. I don't need that much property or maybe 5 acres. Who knows. I plan on paying cash so I know the options in my price range is few and far in between. I'll be staying at my cousin's house and helping her work on her house while I'm looking for my new house after I sell this house. This is the financial savvy move for me. I don't want a mortgage payment anymore and I know I can find something in my price range where I can pay all cash. Maybe my broker will be savvy with auctions or HUD homes. I have skills so I'm able to work on my house by myself for the most part. I'm nervous and excited.
@@jennyanimal9046 Your decision to sell your home and utilize the equity from that sale is a savvy move. I understand it can be daunting with the many variables and uncertainties involved, but taking action is always better than inaction. Which neighborhood is your home in? Depending on the location, I might know a few interested buyers. Being local, I have a wealth of resources at my disposal if you need assistance. Don’t hesitate to get in touch.
I recently sold my condo for $400k and i want to invest the money in the stock market. However, it appears the market is at an all-time high. Should I invest elsewhere or wait for a market correction?
The stock market is risky But staying on the sidelines is riskier. Missing the next bull run will be far more costly to your long-term wealth than getting in at the "right price". Consult a financial advisor if you're unsure how to proceed.
You're right, I and a few Neighbors in Bel-Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 37% in the last quarter
Mind if I look up your advisr please? I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Melissa Elise Robinson" for years and highly recommend her. See if she meets your criteria.
You can get fha loan when house is in disarray. 203k loan. USDA is for rural properties only-need to check the map to see if eligible. There is usda guaranteed and 502 direct. 502 direct is for lower income and they offer subsidy toward your payment and lower rates than regular market. There are many loan programs out there, including down payment assistance loans. With foreclosures, the bank picks the highest bid and easiest route. Aka cash.
That was crazy, as I was watching the vid, I saw your comment come up & as soon as I read it, I looked back at the video and the fish jumped out. The timing was unbelievable 😂
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
I wouldn't jump the gun on the foreclosure market yet. I think we're going to see a market collapse that will make the one in 2008 look weak. Everything is so over-inflated, that even with the relatively low interest rates that we have, it won't help when people get behind, and they will. With that said, if a good affordable deal presents itself, then have at it.
hey brother love your stuff!!! im in Flower Mound TX and i am a Veteran ( with proof) would love to get in a house. ive been doing some homework on my own but it is always a wise choice to ask a professional.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. He has helped me raise my reserve from $275k to $850k, despite inflation.
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
It's Nov 21st as I'm seeing this, am located 50 miles NW of Green Bay and its Snowing today, our first such event of the Fall/Winter/Early Spring seasons (it doesn't quit snowing till sometime in May.
Wayne I think you have been out of the market or something. The banks today want the homes back and flipping the houses. I went to tons of Auctions and have been outbid by the beneficiary aka “the bank.”
@@tonytucker8651it makes sense for banks to foreclose as much as possible early on, to end loans they are lending at 2-3%, and get other buyers in there on a higher loan. Even if it’s a different bank, on average all banks succeed by doing this. Then once market shifts they will sell them for free because they just want cash.
Its been like that for a while the whole concept of foreclosure doesnt really work if there are more than enough investors that bid on them, at that point they go for even higher than market due to bidding wars. I have bought many foreclosures back in 2012-2015, for a few years there was deals. Not anymore
HUD has two levels of activity. HUD preferred FHA low income people who “bid”, and the large serious flawed portfolios bundled for institutional buyers. That’s it. If you are a FHA “qualified you can get a 203(k) rehabilitation loan. The most important thing is an inspection is not going to include electrical or plumbing issues until you close on the loan, and be prepared to change the doorknob locks the same day. It is usually large institutional buyers with bundled homes or first time single home, can’t really afford a house (don’t know what they are getting into, have to stay 3 years there, etc…). Only work with lenders and realtor that specializes in HUD, so it doesn’t fall apart.
There's nothing available with-in about 100 miles of my location and nothing that's even reasonable for the rest of my state. In fact, the prices on that HUD website are even higher than on Zillow.
Hi Wayne I don’t know if you did a video before on this but I would love to know about unrestricted land mobile homes tiny homes etc good priced no more than 1 hour from the city .. I am not far from St Tammany but I it can be Louisiana or Mississippi if you have a video or link can you send back.. Thanks Have A Great Day😊
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
I just gotta tell myself it was a coincidence that you made this video now,lol. I gotta property in my area getting sold on Tuesday. Its not listed with the HUD site even though HUD is bidding the $156,000. For this auction you need 15,000 just to bid I think. "When making their bids, all bidders except the Secretary must submit a deposit totaling $15,686.03 in the form of a certified check or cashier’s check made out to the Secretary of HUD. A deposit need not accompany each oral bid. If the successful bid is oral, a deposit of $15,686.03 must be presented before the bidding is closed. The deposit is nonrefundable. The remainder of the purchase price must be delivered within 30 days of the sale or at such other time as the Secretary may determine for good cause shown, time being of the essence. This amount, like the bid deposits, must be delivered in the form of a certified or cashier’s check. If the Secretary is the highest bidder, he need not pay the bid amount in cash. The successful bidder will pay all conveying fees, all real estate and other taxes that are due on or after the delivery date of the remainder of the payment and all other costs associated with the transfer of title. At the conclusion of the sale, the deposits of the unsuccessful bidders will be returned to them." So if i understand correctly you need $15,000+ in somewhat liquid funds just to bid on this property. Edit: Also forgot to mention there may or maynot be a potential Methhead/Cook squatting in the 3 BR house.
I love your beard and moustache brother. Maybe I'm biased because mine looks like yours when I grow it out.. LOL Thank you for sharing the knowledge/information!
What I believe we’re going back to the gold standard which makes money real again. When money is backed by gold there’s no way you can borrow from less than 7% interest.
Help find you listings you want shows you the listing,Answers any questions you might have about the property,makes suggestions ,negotiates the deal and closes the deal sends you all necessary paperwork so you can E-sign makes closing escrow easy. Make sure you’re prequalified so you’re not wasting the agents time or your time when you find something you want.
His information isnt totally correct , HUD will not and cannot sell a home with a broken window. I know because I bought a HUD foreclosure about 8 years ago and a neighbor kid broke the window in the middle of the sale… HUD replaced it because they legally couldn’t sell a house with a broken window under HUD rules. Unless the rules have changed since then?
HUD foreclosures are not sold at bargain prices, and you are buying a Pig in the Polk, since you are buying it "AS IS"! Not really a wise first-time home buyer purchase for the majority of first-time homebuyers who do not have a pad of cash to handle any needed repairs to be livable!! If you are in a deed state, go to the local tax accessors office and ask if they have any tax assignments you can buy from the city for back taxes. Once you purchase the tax assignment, you can proceed to foreclosure on the property with a qualified lawyer..."if" it's been two or more years since the property went to tax sale and the lien was not sold ........ Also contact your local banks' REO Department (Real Estate Owned) and ask about any foreclosures they may have on their books!
Don’t simply retire from something; have something to retire to. Start saving, keep saving and stick to investments. Everyone should have bitcoin in there portfolio.
Bitcoin getting closer to hitting new high prices and could go even higher than we've seen before. This could mean great things for people looking to invest, suggesting now might be a good time to get involved before it jumps even higher. It's an exciting moment that could change the game in general...managed to grow a nest egg of around 2.1Blitcoin to a decent 11.4Biitcoin. At the heart of this evolution is Fetch ai, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. His holistic approach to investment and commitment to staying abreast of market trends make his an invaluable ally in navigating this new era in cryptocurrency investment.
Fetch AI analyses go beyond surface-level trends. He delves into technical, fundamental, and sentiment analysis, providing a holistic view of the market.
I have never seen a trader as open and transparent as Fetch AI is with his clients. The way he decides to make a profit for his clients. He allows you to express your fears and she still rests your fears and that is my respect. I don't normally comment on videos, but this word should be included. He is really cool.
Irresponsible hud home owners 'aka slum lords' destroyed my once nice neighborhood by renting to criminals & drug addicts bringing down the property values of the neighborhood.
Foreclosures are so sad. Every one of them has a heartbreaking story behind it. I pray for anyone going through a tough season in life. Have faith that your best years are yet to come and God will return everything lost and taken from you 7 fold.
Amen!
Thanks this is why my ❤️ heart will not let me.
No, not EVERY. Plenty of willfully ignorant, irresponsible, or downright criminal acts that have caused many foreclosures. Self-inflicted wounds do happen.
@@brandonreiser7739 "Self-inflicted wounds." You got that right, buddy. LOTS of foreclosures are on there way in about a year. Elections have consequences.
Amen
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets like gold or crypto. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
The only time in recent history housing prices went down was in the early 2000s when the housing market crashed. The market corrected itself after over pricing houses. The price of homes will not be going down. Pay off ur debt save down payment and understand u may not be able to afford a 2k sq ft home in the burbs
Only player in town is the govt Fannie Mae Bank , they are there to inflate the market
@ we can go back to the post office and local savings and loans
Sounds like you are in the Columbus area
The world needs more teachers and leaders like you bruh ✌🏿👍🏿💪🏿💯
Ty
@@TheRealWayneTurner Good evening Wayne, i submitted a form twice already to get some help buying a property but haven't heard back. How can i get in touch with you? Thank you!
I have seen a lot of foreclosure auctions where the final sales price is way too high.
Too high for Blackrock or too high for you? Save up more. Good luck.
You are right. People pay retail for a home they can't even look at properly. Insane.
Me too. People get to emotionally involved in the bidding and lose site of the price cap you need to put on the home.
So don't buy! Auctions are intended to drive up prices.
@@hannahdargan6079 Too high because of blackrock
I hate Airbnb and the likes. We live right next door to one and It's no bueno especially when you have young daughters to raise.
@@ShadyD365I did the same thing. I used my firing range during the day and learned how to play the bag pipes at night. It was epic.
@@mikedegnan5252you should be in jail
@@ShadyD365Your friend is a complete dumb ass
😂😂😂 bagpipes
@ You or they admitted to harassing a business owner and its patrons. You all are 9-5 terrorists
When I was selling HUD homes back in 2012-2015, HUD had a company that winterized the home and as long as there was no pipe damage or electric issues, you would fill out a form and pay the company to de-winterize the home for inspections then come back and re-winterize the home after the inspection. It would cost about $150. NEVER had them just outright deny that service being performed. Also, HUD and most banks would give you 7-10 days for inspections. They will not repair anything but they cannot deny you the opportunity to inspect the property. Always get preapproved before going to shop for a home. Many agent, as I do, require a preapproval before you go see the first home. Getting a preapproval before home shopping gives you a budget in which to search. There is no need to look at homes above that budget.
that man gave me the game so I don’t be a lame ima put my people on thanks
Mortgage underwriter here for 35 years. I've purchased 2 Hud foreclosures that the foreclosing lender did all repairs, including painting the house & new carpet. They also paid closing costs on both of those properties
Realtor here. Back during the foreclosure crisis, HUD and other lenders would not repair the homes at all but towards the end, they realized they could get more money by doing some basic repairs and cosmetic work such as flooring, painting and newer appliances. This would bring in more buyers with FHA loans. Some HUD homes just had a repair escrow that would need to be worked into the loan or the buyer would need an FHA 203k loan for repairs.
I bought our first home sight unseen at a sealed bid auction for 20k. Sold it 7 years later for 95k, but back then in 75 the government replaced the furnace, carpet and painted it.
My first home was a HUD foreclosure in Orlando. I paid $52,357. Only bidder. I like to say you could smell it before you saw it. But, I worked hard on it and sold it for $98,000 two years later with about $10,000 in expenses.
THANKGOD MY FORCLOSURE WAS A DREAM COMPARED TO THOSE MESSES
The first house I bought was a short sale. It took 10 months so it should been called a long sale. Anyways we had an FHA loan and when we had the inspectors go in they said they needed repairs or they would not approve the loan. So we ended up doing the repairs ourselves before the house was even ours. Just so our loan was approved. It took 10 months. We eventually got the house.
@@jennyanimal9046 I love that story. Ty. Long sale is right. lol
@@TheRealWayneTurner I'm working on my house currently in Sacramento and I'm getting ready to put it on the market by March and then I'm going to look for a dumpy little mobile home somewhere on an acre or half an acre. I don't care. I don't need that much property or maybe 5 acres. Who knows. I plan on paying cash so I know the options in my price range is few and far in between. I'll be staying at my cousin's house and helping her work on her house while I'm looking for my new house after I sell this house. This is the financial savvy move for me. I don't want a mortgage payment anymore and I know I can find something in my price range where I can pay all cash. Maybe my broker will be savvy with auctions or HUD homes. I have skills so I'm able to work on my house by myself for the most part. I'm nervous and excited.
Wow. Fixing a house before you buy it is risky. If the sale didn't go through, that funding would have been wasted. So glad it worked out for you.
@@jennyanimal9046
Your decision to sell your home and utilize the equity from that sale is a savvy move. I understand it can be daunting with the many variables and uncertainties involved, but taking action is always better than inaction. Which neighborhood is your home in? Depending on the location, I might know a few interested buyers. Being local, I have a wealth of resources at my disposal if you need assistance. Don’t hesitate to get in touch.
😂😂😂😂😂. I'm a realtor who sold alot of SS & you're right. They were loooong sales😅
Buyers can also network with wholesalers. You will need to assess quickly what repairs need to be made before submitting the cash offer.
I recently sold my condo for $400k and i want to invest the money in the stock market. However, it appears the market is at an all-time high. Should I invest elsewhere or wait for a market correction?
The stock market is risky But staying on the sidelines is riskier. Missing the next bull run will be far more costly to your long-term wealth than getting in at the "right price". Consult a financial advisor if you're unsure how to proceed.
You're right, I and a few Neighbors in Bel-Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 37% in the last quarter
Mind if I look up your advisr please? I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Melissa Elise Robinson" for years and highly recommend her. See if she meets your criteria.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
You can get fha loan when house is in disarray. 203k loan. USDA is for rural properties only-need to check the map to see if eligible. There is usda guaranteed and 502 direct. 502 direct is for lower income and they offer subsidy toward your payment and lower rates than regular market. There are many loan programs out there, including down payment assistance loans. With foreclosures, the bank picks the highest bid and easiest route. Aka cash.
Anybody else notice the fish jump in the background?! 😃 1:00
That was crazy, as I was watching the vid, I saw your comment come up & as soon as I read it, I looked back at the video and the fish jumped out. The timing was unbelievable 😂
😂
Just finished studying this 2 weeks ago now this video! You just gained a new subscriber ❤
I found your video extremely informative - the comparison in particular was an excellent illustration. Thanks
Get thermal gun to see leaks etc.
What is a thermal gun? Thanks!
@@arizonanative7409 it's a camera that shows you heat/cold spots. You can get them at hardware stores.
He's always giving up good GAME✌🏽
Don't work for money; make money work for you. Invest wisely today to create the freedom you desire tomorrow.
Many new tra-ders face challenges without proper guidance. I found success by learning from James Clark's expertise.
@@user-kj2iv6xr7sexactly that's why I always seek Mr J Clark's guidance in all I do 😊
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
Celebrating a $30k stock portfolio today from a $6k start. Investing wisely has given me time for family and future plans.
From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
I wouldn't jump the gun on the foreclosure market yet. I think we're going to see a market collapse that will make the one in 2008 look weak. Everything is so over-inflated, that even with the relatively low interest rates that we have, it won't help when people get behind, and they will. With that said, if a good affordable deal presents itself, then have at it.
hey brother love your stuff!!! im in Flower Mound TX and i am a Veteran ( with proof) would love to get in a house. ive been doing some homework on my own but it is always a wise choice to ask a professional.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
That's awesome!!! I know nothing about investment and I'm keen on getting started.
What are your strategies?
People dismiss the importance of advisors until they are burned by their own emotions.
I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. He has helped me raise my reserve from $275k to $850k, despite inflation.
If you are using a really good broker or account manager, it's easier to earn from the market
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
It's Nov 21st as I'm seeing this, am located 50 miles NW of Green Bay and its Snowing today, our first such event of the Fall/Winter/Early Spring seasons (it doesn't quit snowing till sometime in May.
Great information. Thank you, Wayne.
Very helpful Thank you for sharing this
You're welcome!
Wayne I think you have been out of the market or something. The banks today want the homes back and flipping the houses. I went to tons of Auctions and have been outbid by the beneficiary aka “the bank.”
The banks want market value for trashed homes and they want you to buy them sight unseen. 2024 was flipping bust!
Not always, and it depends on the market.
@ That is true real estate is regional. In my market which is Arkansas the banks have become competition for the investors on the decent properties
Banks aren't giving good homes to the public like in 2008. Only the worst is offered now and at high price
@@tonytucker8651it makes sense for banks to foreclose as much as possible early on, to end loans they are lending at 2-3%, and get other buyers in there on a higher loan. Even if it’s a different bank, on average all banks succeed by doing this. Then once market shifts they will sell them for free because they just want cash.
Thank you so much for this valuable information!!
Good job bud another great video
Good video! Good info! Thanks!
How many hundreds of investors would I have to battle to buy one of these?
Not as many as you would think.
Such great information, thank you!
Glad you found it helpful.
Great information Wayne! Good work
I've been seeing banks sell foreclosures at market rate here in FL. Some have been on the market for a year.
Same in far Northern California.
Its been like that for a while the whole concept of foreclosure doesnt really work if there are more than enough investors that bid on them, at that point they go for even higher than market due to bidding wars. I have bought many foreclosures back in 2012-2015, for a few years there was deals. Not anymore
@@Stashgrannywhat websites do you see the ones in far norcal? Can anyone buy them?
HUD has two levels of activity. HUD preferred FHA low income people who “bid”, and the large serious flawed portfolios bundled for institutional buyers. That’s it. If you are a FHA “qualified you can get a 203(k) rehabilitation loan.
The most important thing is an inspection is not going to include electrical or plumbing issues until you close on the loan, and be prepared to change the doorknob locks the same day. It is usually large institutional buyers with bundled homes or first time single home, can’t really afford a house (don’t know what they are getting into, have to stay 3 years there, etc…).
Only work with lenders and realtor that specializes in HUD, so it doesn’t fall apart.
fellow Louisiana man! awesome!
Isn’t Lake Pontchartraine a flood area ? Thanks for the heads up about HUD homes
🏴 welcome to the team brother… we could use your talents
You also have to know that at the Federal Reserve bank window… the bank was paid in full for your loan 🎤💧
Since it's on the water, did increases in the homeowners' insurance price them into foreclosure
There's nothing available with-in about 100 miles of my location and nothing that's even reasonable for the rest of my state. In fact, the prices on that HUD website are even higher than on Zillow.
Try going to FindMyForeclosure.com
Can you list websites for hud forclosure?
HudHomeStore.cov
This!
Hi Wayne I don’t know if you did a video before on this but I would love to know about unrestricted land mobile homes tiny homes etc good priced no more than 1 hour from the city .. I am not far from St Tammany but I it can be Louisiana or Mississippi if you have a video or link can you send back.. Thanks Have A Great Day😊
I’ve don’t lots. I hope these will help you. ruclips.net/p/PLyolCz-FptmKf31JJxQoDOQj4vqqRMWto&si=ykAXWKFBa4JuuAxF
thanks as always for the tips
Good information 😊
Hi dear I like your video very much
What can you do in the not allowed to unwinterise property?
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
Home values are declining rapidly in the greater Knoxville area.
Less people buying homes brings down prices.
Question ❓ Would a person need an agent if the parcel is a tax lien purchase?
I just gotta tell myself it was a coincidence that you made this video now,lol. I gotta property in my area getting sold on Tuesday. Its not listed with the HUD site even though HUD is bidding the $156,000. For this auction you need 15,000 just to bid I think.
"When making their bids, all bidders except the Secretary must submit a deposit totaling $15,686.03 in the form of a certified check or cashier’s check made out to the Secretary of HUD. A deposit need not accompany each oral bid. If the successful bid is oral, a deposit of $15,686.03 must be presented before the bidding is closed. The deposit is nonrefundable.
The remainder of the purchase price must be delivered within 30 days of the sale or at such other time as the Secretary may determine for good cause shown, time being of the essence. This amount, like the bid deposits, must be delivered in the form of a certified or cashier’s check. If the Secretary is the highest bidder, he need not pay the bid amount in cash. The successful bidder will pay all conveying fees, all real estate and other taxes that are due on or after the delivery date of the remainder of the payment and all other costs associated with the transfer of title. At the conclusion of the sale, the deposits of the unsuccessful bidders will be returned to them."
So if i understand correctly you need $15,000+ in somewhat liquid funds just to bid on this property.
Edit: Also forgot to mention there may or maynot be a potential Methhead/Cook squatting in the 3 BR house.
If it’s not listed on the HUD site I wouldn’t risk it. The only deposit a HUD home requires is earnest money if you’re buying it as a non investor
I love your beard and moustache brother. Maybe I'm biased because mine looks like yours when I grow it out.. LOL
Thank you for sharing the knowledge/information!
How do we compete against big $$$$
HUD Homestore has pathetic inventory. I found five homes listed for the entire state of Colorado.
Go to FindMyForeclosure.com to see the list of every foreclosure in your state.
You said you had a couple of websites but only gave one website and it leads nowhere.
No opportunities when those listing agents list at and over retail. I see a lot of price drops on those listings.
New subscriber 😊
How difficult to get insurance with prior water damage?
That isn't what I was tolld
What I believe we’re going back to the gold standard which makes money real again. When money is backed by gold there’s no way you can borrow from less than 7% interest.
Hello Wayne
Are there any other sites to do searches than the 1 you mentioned?
Thnx
Very informative, I wonder if those can be purchased with a 203k fha loan, that would be sweet for a primary
It depends on the condition of the home and the lender, some will, some won't.
What if home is fully owned and only municipal taxes? Are they still being seized?
The government can take your home if you don’t pay your property taxes.
How do you get a good deal on these when there's almost no inventory?
If you can find one that fits your needs but it.
So many orher ways to purchase a home without a loan..
What are you saying with "win a ross" a house? What does that mean?
Hi Wayne, how do buyers agent fees work for foreclosed homes? I’m assuming buyer has to fully compensate their realtor?
Many Banks are covering the fee. Your agent has to request it when making the offer.
@@TheRealWayneTurnerAwesome, thanks for the tip!
What if im looking for a personal small piece of hunting land , any tips?
What about other liens on foreclosures?
Where is this house located
Only 6 homes in my entire state. None where I want to live.
Only six homes in your entire state? Where does everyone else live?
Good tips
Thanks! I hope it helps someone.
Lmfao. I’m in ny. Long Island. This is hysterical.
PROOF Wayne has been doing this a while: Still use to recording on original iphone "its going to get a little dark in here" (bright as day)
What does a real-estate agent do
Help find you listings you want shows you the listing,Answers any questions you might have about the property,makes suggestions ,negotiates the deal and closes the deal sends you all necessary paperwork so you can E-sign makes closing escrow easy.
Make sure you’re prequalified so you’re not wasting the agents time or your time when you find something you want.
Negotiations, repairs, scheduling, marketing, promotions, marketing, advertising.
Here you can get a Hud or FHA loan if you get a ( I think it's called a 203k LOAN AND HAVE IT FIXED AFTER THE CLOSING :)
How can HUD sell I house with mold?
Buyer beware. The buyer has to do their due diligence.
Live outside of the city but people are dumb. Gotta have fancy things around them to live.
Why would HUD fix that window when wood is cheaper and they don't have to worry about it being damaged again?
His information isnt totally correct , HUD will not and cannot sell a home with a broken window. I know because I bought a HUD foreclosure about 8 years ago and a neighbor kid broke the window in the middle of the sale… HUD replaced it because they legally couldn’t sell a house with a broken window under HUD rules. Unless the rules have changed since then?
I watched your free training today but the big correction has already happened we are at the end of 2024 so I don't get it
Renting is better than buying
is that home still availabe?
Where can i go to see a list of all the hud homes
Hudhomestore.gov
How much property taxes on this house
HUD foreclosures are not sold at bargain prices, and you are buying a Pig in the Polk, since you are buying it "AS IS"! Not really a wise first-time home buyer purchase for the majority of first-time homebuyers who do not have a pad of cash to handle any needed repairs to be livable!! If you are in a deed state, go to the local tax accessors office and ask if they have any tax assignments you can buy from the city for back taxes. Once you purchase the tax assignment, you can proceed to foreclosure on the property with a qualified lawyer..."if" it's been two or more years since the property went to tax sale and the lien was not sold ........ Also contact your local banks' REO Department (Real Estate Owned) and ask about any foreclosures they may have on their books!
You should mention place where you are
Somewhere near Lake Ponchatrain.
I'm in St Tammany Parish in Louisiana
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I just looked up his name online. He is licensed with credible certificates and has an amazing track record.
I’m new at this please, how can I reach him?
Call me to bid on HUD homes in Virginia. I've helped many people purchase HUD homes since 2012
Wait till the deportations begin 😢 there'll be plenty of homes sadly
I did agree.
What money?
Barn doors are for barns as they give no privacy, especially to the bathrooms. Who the hell came up with the stupid idea to put them inside the house!
😂😂😂
People that like them. Yeah..I know it’s weird.
Wayne you are in LA?
He did mention “a mile from Lake Ponchatrain”, early in the video.
I'm located in St Tammany Parish
Worth less than 50,000 flooded out house from storms.
a foreclosure is most of the time an extreme bad deal
I'm favoured, $22K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America..
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Scammers
@MuhammadShiff
Troll
Two words...private equity.
What money
You know you live in the ignorant part of the country when a fireplace is a must in a Low-MID house.
Irresponsible hud home owners 'aka slum lords' destroyed my once nice neighborhood by renting to criminals & drug addicts bringing down the property values of the neighborhood.
It can happen