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7 Tips for Foreclosure Property Investing

With foreclosures rising nationwide, prices falling, and inventories swelling to historic levels, investors with a discerning eye and knowledge of the foreclosure process can build a profitable portfolio of distressed properties. Here are some helpful tips to help you in the Miami real estate market.

- Know your market. The most important tool in your real estate investing toolbox is knowledge of the area where you plan to invest.

- Develop an appropriate investment strategy. Find an investment strategy that will work in your market, and then do what it takes to implement that strategy.

- Make the foreclosure process work for you. Decide what foreclosure buying technique works best with your investment strategy and your strengths as a person.

- Scrutinize each deal. Many real estate investors wrongly assume that if a home is in foreclosure it's a good deal.

- Rely on a trustworthy team. You'll be in over your head if you try to do all the work involved in foreclosure investing on your own.

- Network with banks and lenders. In a slow real estate market, banks and other lenders are saddled with larger inventories of foreclosed properties and will be more motivated to sell those properties at bargain prices.

- Act quickly, but don't be in a hurry. A slow real estate market gives you the upper hand as a buyer, but you'll still need to act quickly to get the best deals.

The worst of the housing bust may be behind us, some economists say. Here are three reasons for their somewhat optimistic look on housing.

1. Fewer houses built mean fewer houses waiting to be sold.
In May, the number of new housing units completed fell to 1.534 million from 1.542 million in April and 1.61 in March. The numbers of starts are at a low enough level that the inventories can start to be worked down, says National Association of Home Builders Chief Economist David Seiders.

2. Mortgage rates are going up, but the economy is strong enough that people can afford the increase. The economy appears able to absorb these subtractions, especially since they remain on track to be smaller than what the market grew accustomed to over the past year, says Action Economics Chief Economist Mike Englund in a June 19 note.

3. There is no improvement yet, but the decline has slowed.
I don't think we are out of the woods here, but we may not be that far from the bottom. Since late last year things have been trending downward but not nearly as rapidly now as during 2006, says Seiders.

It looks like to worst is behind the MIami real estate market, but certain areas could still feel a decline in pricing and an increase in inventory.

Keystone Bay Condo Rental
1 bed 1 bath
940 sq ft
$1,100 per month

This 1 bedroom apartment is for rent in Keystone Bay for $1,100 per month. This unit has brand new tile floors and is 940 square feet. It also comes with a covered parking spot and all access to the building is electronically controlled. Keystone Bay is located on 135th street East of Biscayne Blvd at the end of the street and the building has been completely remodeled. The building is located on the main canal leading to the bay and Intracoastal Waterway. For more information, please call Paul Hansen 786-586-4778.

Condo at Keystone Bay for Rent
$1,400 per month - 1-year lease
1 bed + Den, that will convert to a 2nd bedroom
1.5 baths
1,140 sq ft

Keystone Bay is a completely remodeled building located at the end of 135th Street just East of Biscayne Blvd is now available for $1,400 per month. This unit at Keystone Bay has been completely remodeled with a new kitchen that has granite counter tops with new appliances, tile floors in the living area, carpet in the bedroom and marble in the bathrooms. All of the windows have been replaced with hurricane rated glass, the lobby of the building has been completely remodeled, along with the hallways and pool area. The most amazing feature of this Keystone Bay condo is the view of the waterways pictured below. The view is of two separate canals with many boats passing by daily. For more information, please call Paul Hansen 786-586-4778. This is a must see if you are thinking of renting in the area!

Paul Hansen
Turnberry International Realty
786-586-4778

Hollywood Beach, Fla. The Related Group announced today a $226.5 million construction loan with Lehman Brothers for Trump Hollywood, heralded as the new definition of luxury for Hollywood Beach. The joint vision of Donald Trump and Jorge Perez, Trump Hollywood is designed by architect Robert Swedroe with interiors by the internationally renowned firm of Yabu Pushelberg. The loan forges the timely completion of the gleaming 40-story glass tower for Summer 2009.

Lehman Brothers was selected from an elite group of lenders to finance Trump Hollywood because of its financial strength, market expertise and long-standing relationship with The Related Group, says Matt Allen, The Related Groups Chief Operating Officer. Lehman Brothers is one of the few lenders in the market today with the ability to fully underwrite this deal and close within the required timeframe.

Set on 240 feet of pristine sandy beaches on the Atlantic Ocean, Trump Hollywood will offer 200 three- to six-bedroom residences, all with private elevator access and breathtaking unobstructed ocean, Intracoastal and city views. The spacious residences starting at $1.6 million will range from over 2,000 to almost 9,000 square feet of living space, including several hundred feet of expansive sunrise and sunset terraces. The exclusive property will feature a double-height lobby, private cinema, state-of-the-art health and fitness center, tennis courts, billiards room, oceanfront pool deck, spa and cabanas with poolside café and bar. For the final touch of sophistication, residents will have access to signature around-the-clock concierge and valet services, all flawlessly orchestrated by the Trump Hollywood staff. For more information, please call Paul Hansen 786-586-4778.

Turnberry Ocean Colony is raising the standard of luxury living in Sunny Isles condos. Turnberry Ocean Colony is nearly complete and the South Tower should be ready of occupancy in the next several months. The North Tower is finished and resales are available with pricing starting at just over $1.5 million.
Turnberry Ocean Colony is the only luxury condo project in Sunny Isles that has a guard gated entrance from Collins Avenue, none of the other condos offer such a high level of security. That one feature alone puts Turnberry Ocean Colony is a league of its own, not to mention the residents only clubhouse and spa that is truly second to none. If you are looking for service and top level amenities, then Turnberry Ocean Colony is for you. For more information or to schedule a showing please call Paul Hansen 786-586-4778. Paul Hansen is the leading real estate agent in Sunny Isles and the Beaches. Put his years of knowledge to work for you.

50 Biscayne is an awesome condo project in downtown Miami that is scheduled to start closings this year. Standing 54 floors in height, 50 Biscayne will be a landmark building on the Miami skyline for years to come. 50 Biscayne is a huge project with 523 condo units and many different types of floor plans to choose from. Because of its location just across the street from Bayfront Park, 50 Biscayne offers unobstructed views of Biscayne Bay and the Atlantic Ocean to the east and beautiful city views to the west.

50 Biscayne is developed by the Related Group and designed by Sieger Suarez, so you know it is a quality condo with top level amenities. There are only a handful of buildings that are taller than 50 Biscayne, and none of them offer the views you get here. To obtain more detailed information on 50 Biscayne and other Related Group projects, please contact Paul Hansen 786-586-4778. Paul Hansen is one of the top realtors in Miami and he will put his years of experience to work for you.

One Bal Harbour is getting very close to completion, and is the best of all the Bal Harbour Condos. Developed by WCI Communities, a leader in luxury condo development, One Bal Harbour is the pinnacle of luxury oceanfront condominiums. WCI has also built Bella Mare on Williams Island and Mosaic in Miami Beach just to name a few.
With a total of 260 units, One Bal Harbour Condos range in size from 1,918 to well over 3,000 square feet in size and offer some of the best floor plans you will find anywhere. Units at One Bal Harbour start in the $700,000s. For more information or to schedule a showing for One Bal Harbour, please call Paul Hansen 786-586-4778.