Buying Foreclosures | Trisha Ocona Francis | Talks at Google | Summary and Q&A

TL;DR

Learn how to take advantage of the foreclosure market, purchase properties at great prices, and avoid foreclosure yourself with expert insights from Trisha Ocona Francis.

Key Insights

• ⌛ Foreclosures offer opportunities to purchase properties below market value and increase their value over time.
• 💦 Understanding the foreclosure process and working with the right professionals, such as real estate agents and attorneys, is crucial for success.
• 💁 Researching and staying informed about neighborhood trends, zoning changes, and upcoming developments can help investors identify promising areas for investment.

Transcript

SPEAKER: We are super excited to bring Trisha Ocona Francis back to Google to speak with you guys. She may be a familiar face to some of you. She actually came and did a really, really great talk at Google last year, which was so popular and got so many rave reviews that we had to have her back. So we're super excited to have her back again today. ... Read More

Questions & Answers

Q: What is the hardest consequence for a homeowner in foreclosure?

The hardest consequence for a homeowner in foreclosure is a deficiency judgment, where they still owe money to the bank even after selling the property for less than what is owed.

Q: How can investors increase the value of a foreclosed home?

Investors can increase the value of a foreclosed home by adding amenities like laundromats or storage units, renting out commercial spaces, or improving the property to attract higher-paying tenants.

Q: What are the best types of properties for cash flow and selling later?

Two-family homes and commercial properties are ideal for cash flow, while one-family homes are suitable for flipping. It is important to buy properties in up-and-coming neighborhoods with potential for growth.

Q: How can investors compete in a competitive real estate market?

Cash buyers have the advantage in competitive markets, as they offer speed and certainty to the sellers. Building a strong team and working with an experienced real estate professional can also give investors an edge.

Summary & Key Takeaways

• Trisha Ocona Francis, CEO of realestateOCONA LLC, shares her expertise on foreclosures and real estate investment.

• She discusses the process of foreclosure, including pre-foreclosure, auctions, REOs, and HUD homes.

• Trisha provides valuable advice on how to establish an agency relationship, negotiate deals, and navigate the foreclosure market.