Episode #441

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 contractor and 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 points homeowners face today, current foreclosure rates amid a looming recession, and how to properly vet a real estate agent before working together!

Show Notes at:
https://www.biggerpockets.com/blog/money-441?utm_source=youtube&utm_medium=description&utm_campaign=none
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Hear James on the “On the Market” Podcast:
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How to Buy a Foreclosure: A Guide for Finding & Landing Foreclosed Deals:
https://www.biggerpockets.com/blog/2013-03-22-how-to-buy-a-foreclosure?utm_source=youtube&utm_medium=description&utm_campaign=none
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6 Tips on Investing in Foreclosures for First Timers:
https://www.biggerpockets.com/blog/tips-investing-foreclosures?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Laura:
Instagram: @lauramorby or https://www.instagram.com/lauramorby
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Connect with Scott and James on BiggerPockets:
Scott: https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none
James:
https://www.biggerpockets.com/users/jdainflips?utm_source=youtube&utm_medium=description&utm_campaign=none


00:00 Intro

00:43 Money Moment

01:31 Struggling Agent to Big-Time Investor

10:41 More Than a Transaction

16:28 The Current Foreclosure Market

27:21 What Options Do Sellers Have?

41:46 Find a Specialist!

46:50 HUGE Opportunities!