441: Foreclosures Are Rising Across the Nation, But Who Should Buy Them?

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 14 August 2023

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

Foreclosure can be a sensitive topic. After the embarrassment of falling behind on payments, there’s the fear of losing your home and having no place to live. Rather than preying on someone who feels helpless, there are ways for investors to profit while also helping the distressed seller. In this episode, we’re chatting with guest and long-time friend Laura Morby. As the daughter of a general contractorand a licensed agent by twenty-two years old, Laura was destined for a long career in real estate. Little did she know that her start as a hustling real estate agent would land her in the top 0.05% and help her become a full-time investor! Foreclosure is an issue that resonates deeply with Laura, as her father was foreclosed on after the impact of the 2008 housing market crash. Her message to homeowners? Avoid the foreclosure auction at all costs. As for investors, don’t rush into a short sale! There are all kinds of creative financing solutions that can ingratiate you with the seller and help you reach a win-win deal. Join Laura, Scott, and guest host James Dainard as they discuss the biggest pain pointshomeowners face today, current foreclosure rates amid a looming recession, and how to properly vet a real estate agent before working together! In This Episode We Cover Creative financing options for homeowners facing foreclosure How investors can provide a valuable service to distressed homeowners The current foreclosure market and how investors are being affected The most common pain points homeowners face in foreclosure Costly pitfalls to avoid when selling a pre-foreclosed property Four questions you MUST ask a real estate agent before working together And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Scott's Instagram Grab Scott’s Book, “Set for Life” Hear James on the “On the Market” Podcast Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Listen to The Real Estate InvestHER Show Join The Real Estate InvestHER Community on Facebook Register for an Upcoming InvestHER Event Money Moment How to Buy a Foreclosure: A Guide for Finding & Landing Foreclosed Deals 6 Tips on Investing in Foreclosures for First Timers Click here to check the full show notes: https://www.biggerpockets.com/blog/money-441 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Bigger Pockets Money Podcast, where we interview Laura Morby and talk about foreclosures.
0:05.6	Hello, hello, hello, my name is Scott Trench and with me today is James Dainard from the on-the-market
0:10.2	podcast James. How's it going today? It's going good, man. I'm excited to be back on money.
0:14.4	I like hanging out with you. Awesome. Me too. It's great to see you. And James and I are here to make
0:19.3	financial independence less scary, less just for somebody else, to introduce you to every money
0:24.4	story and every money opportunity, because we truly believe financial freedom is attainable for
0:28.9	everyone, no matter where or when you're starting. Whether you want to retire early and travel
0:33.5	the world, go on make big time investments and ask us like real estate or start your own business,
0:38.5	we'll help you reach your financial goals and get money out of the way so you can launch
0:42.1	yourself towards your dreams. We have a new segment of the show called the Money Moments, where we
0:46.9	share a money hack tip or trick to help you on your financial journey. And today's money moment is
0:52.4	half a weekly budget check in with yourself, your partner or your family. Are you on track? Are you
0:56.8	at risk of spending too much? Do you need to cut back? Check in regularly and make adjustments from
1:01.6	there. A money date, for example. Do you have a money tip for us? Email moneymoment at biggerpockets.com.
1:08.2	All right. Before we bring in Laura, quick note. Laura is enjoying the beautiful summer nature
1:13.6	experience of Montana and records is recording from a lake house with a beautiful, beautiful backdrop.
1:19.7	You might hear a little bit of wind here and there throughout the podcast. Just know that's not
1:24.7	your your buds. That's the beautiful Montana wind flowing through and making it onto our show.
1:29.6	So let it take you there. Your money isn't doing much sitting in the bank, but what's a better option?
1:35.7	Bonds, not with today's yields. Why not invest in real estate without having to do any of the work?
1:42.3	That's right. I'm talking about pine financial groups newest fund that gives you an eight percent
1:46.8	return with passive monthly income. This fund lends to flippers. So while they fix houses,
	...

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