So, there is an ever present question with Real Estate, and especially foreclosures, and I’ve seen it over and over again…
Am I causing more harm or actually doing good when I buy a Foreclosure property?
So many of us want to enter the world of tax lien investing since it is known to give more financial security than any jobs available.
The thing is, each investor who gets started in the business have his or her own goal upon investing.
Some of them may have intentions to make money, and be civil about it, but some may also have money at the top of their TO DO list… This is where things can get tricky.
Foreclosures are the most wished outcome of every investor because they profit a lot from these circumstances.
However, this is the most painful outcome for the property owner because they just sit back and watch as their property is being washed away to someone else’s hand in just a few moments of time.
But the circumstances get tricky…What if the homeowners just had a recent death in the family, or someone got really sick and they couldn’t afford the payments because of the treatment?
Most people think that aside from the fact that they weren’t able to pay the taxes back in the time given to them, it is also believed that it’s caused mostly because of the lack of knowledge of the property owners to the rules and the process… that’s why it leads to foreclosures.
But I think it is an extremely good practice to remember that these people are still people, and the good that we do in the world will come back to us. (Sorry to get all “do unto others” on you, but I believe it is true for a reason…)
We want to create win/wins for everyone in this business, on all sides of the deals, so if there is anyway to create that for the homeowners (Rent to own, pay back the foreclosure costs monthly, then you give them the lien/deed etc) we should remember to consider that.
It won’t happen all the time, but when it does, its good to remember that when both parties win, we can sleep better at night, and know that we did good and helped someone else who was less fortunate than us.
Just keep your eye out for opportunities to help others. You don’t need to forfeit your profits to do it either. There are smart ways to help others… But that is for another time
Thanks so much for reading today’s post – I’d love to hear your thoughts, so comment below with wisdom you took out of this, and share this if you think someone could benefit from it!
