Cheap Houses For Sale Can Save You Thousands Of Dollars And Provide Instant
When a person first hears about cheap houses for sale, usually the first thing they conjure up in their
minds is a house that is not worth the land it is sitting on.
Or, they will erroneously believe that cheap houses for sale are only located in blighted neighborhoods.
Or in areas where all most all of the homes have become don’t wanters. Nothing is father from the truth!
Cheap houses for sale can be mansions. That’s right!
They can also be lake front properties, homes with swimming pools, three car garages and they can be in gated
Cheap homes for sale come in all categories, shapes and sizes.
You can acquire single-family homes, vacant land, ranches, mini-mansions, apartment complexes, commercial
buildings, lake front properties, duplexes, rural property, farm land, wineries, hunting properties and the list
goes on and on.
What constitutes as a cheap house for sale? The answer is, the amount of the discount!
That is the sole determining factor if a house is a cheap house for sale or not. Generally speaking, properties
are considered cheap houses for sale, when the total purchasing price is twenty to thirty percent or more off of
the FMV Fair Market Value.
For example let’s say a house in particular subdivision has a current FMV of $200k if it is good condition.
Let’s say you are able to purchase that house VIA a bank owned property for $150k.
To bring it up to snuff, you had to add an additional $12k for minor repairs, upgrades and overall general
appearance. Your total investment on a $200k FMV house is $162k! That is classified as a cheap house for sale.
Again, cheap houses for sale can be found anywhere and everywhere. Let’s take a look at places to find cheap houses
- Asset Liquidation Properties
- Bank Foreclosures
- Bankruptcy Homes
- Bequeathed Don’t Wanters
- Commercial Foreclosures
- Condo Foreclosures
- Distressed Properties
- Don’t Wanters
- Fannie Mae Foreclosures
- FHA Foreclosures
- Fire Sales
- Foreclosure Auctions
- Foreclosure Short Sales
- Government Foreclosures
- Government Seizures
- HOA Foreclosures
- HUD Foreclosures
- Owner Financed Foreclosures
- Probate Properties
- REIT Foreclosures
- REO Properties
- Retiring Real Estate Investors
- Sheriff Auctions
- Sheriff Sales
- Tax Deed Sales
- Tax Lien Foreclosures
- VA Foreclosures
- Inheritance Property Sales
As you can see, the list of places to find cheap houses for sale is - for all practical intents and purposes,
unlimited. It used to be that in order to find these deals one had to subscribe to one of the monthly subscription
services that provided deals to investors.
Those days are pretty much over! In today’s market, there are cheap homes for sale virtually everywhere you
turn. You can go on websites such as Craigslist, Backpage, Kijiji, Ebay and others and find deals galore! You can
even search, free of charge on many real state websites that no provide a version of the MLS and FMLS to non real
estate licensed individuals and there is no charge for that access.
Honestly, those deals will astound you! The first time most buyers and investors sees the prices of these homes,
they are usually in a state of exuberant shock. The key is to calm down and put plans in place to start acquiring
If you are an aggressive investor and want the best of both worlds, you can become a licensed real estate agent
and hang your license at one of the many brokerages that charge low monthly fees for access to MLS, FMLS, lock
boxes and instant comparative analysis.
Finally, you can do things the old fashion way and drive through various neighborhoods and look for neglected
and distressed properties, FSBOs, rent to own signs, lease with option to buy signs and short sale signs. These are
pretty good indicators that you can snag a cheap house for sale at a major discount.
Joel Marks is a real estate investor who invests in Cheap Houses For Sale, Foreclosure
Properties and markets properties by selling Lease To Own Homes and Owner Financing properties. He specializes
in helping Americans avoid foreclosure. If you are in foreclosure or facing foreclosure, help is
For more information on topics related to successful real estate investing, getting out of foreclosure,
hard money loans or any other issue related to real estate
investments, please visit, REODr.com