Illinois foreclosures are an overlooked, high reward sector of the Illinois real estate market.
Chicago, IL (PRWEB) April 7, 2006
Profiting in foreclosures does not mean only buying Illinois real estate below market value; it includes marketing your service to homeowners facing foreclosure. Mortgage agents, real estate professionals and lawyers can all benefit from the leads foreclosure listings provide.
The word foreclosure conjures up many images and not all of them are positive. But to grow your Illinois real estate related business you can either learn about them and profit or be left behind.
Everybody knows Donald Trump; his name is synonymous with successful real estate investing. In fact, Donald Trump has leveraged his celebrity status and real estate smarts to become one of the wealthiest and most well known real estate investors in the world.
But did you know that Donald Trump's first big deal was on a foreclosure?
In Donald Trump's 1988 book, "The Art of the Deal," he told of his very first real estate deal in which he purchased a 1,200 unit apartment complex in foreclosure. Donald and his father were able to turn the complex around by rehabbing the apartments and taking a tough stance on rent collection.
So what relevance does this story have to Illinois real estate investors and Illinois real estate agents? Don't ignore the foreclosure market as potential source of profits. With rising interest rates and signs of inflated property prices on the market, a foreclosure may be the best way to find a deal.
In Illinois, according to ilFLS.com, the #1 provider of Illinois foreclosure listings and data, there have been over 7000 new foreclosures in the first quarter of 2006 in the counties of Cook, Dupage, Lake, Kendall, Kane, Kendall, McHenry and Will.
"Illinois foreclosures are an overlooked, high reward sector of the Illinois real estate market." Says George Yanev, investor relations for ilFLS.com. "Real estate agents, mortgage agents, lawyers and homebuyers all use our site to locate and profit from foreclosures, auctions and REOs."
But is investing in foreclosures only limited to those who want to buy and sell properties? Many real estate professionals see the value of foreclosure listings as targeted leads to find potential clients or customers.
"What a lot of people don't realize is that these listings of foreclosures are incredibly effective marketing lists and leads that a real estate agent, mortgage agent or lawyer may utilize." Says George Yanev, of ilFLS.com. "Homeowners in foreclosure represent someone in need of legal counsel for lawyers, someone who will need the services of a real estate agent's expertise to market their home, and someone who needs to refinance or creative financing from a mortgage professional."
Clearly, Illinois foreclosures, long an overlooked sector of the Illinois real estate market, demand more attention for anyone wanting to gain an edge in an increasingly competitive and crowded real estate market.
ilFLS.com, the Illinois Foreclosures Listing Service, is a Chicago based leader in foreclosure investing and downloadable marketing lists. They provide accurate Illinois foreclosure data taken directly from the counties and updated daily. ilFLS.com also lists upcoming auctions, REOs, auctions results, and tax lien/tax sale information. ilFLS.com hosts popular real estate investment seminars, provides a free forum, free daily auction lists and more. Their current data coverage is Cook, Dupage, Kane, Kendall, Lake, McHenry, and Will Counties.
Visit http://www.ilFLS.com to learn more.
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