*** You Can Do Well by Doing Good
Written by Josef Katz, Trump University, The Official Guides to Real Estate
Arizona's housing crisis was deepening. Homeowners were losing their houses. But that got Kevin Andrews thinking. Andrews, a Trump University real estate student, started to wonder whether he could help homeowners and help himself at the same time. And then he hit on a way.
Kevin heard about a man in Arizona who was trying to avoid a foreclosure. This homeowner was overwhelmed with an outstanding $80,000 mortgage and more than $13,000 in medical bills. There was no way he could dig out from under his bills.
“I knew I could sell the house for at least $30,000 more than the $80,000 he owed,” Kevin explains, “and I wanted to do the right thing.”
The homeowner accepted an offer of $95,000 from Kevin. Then, after the sale was complete, Kevin put a "For Sale by Owner" sign in the front yard. The next day, he received an offer of $115,000 for the property.
"Trump University taught me how to create a win-win situation by purchasing a home in the final stages of foreclosure," Kevin explains. "My wife and I made $20,000 on our very first deal and we helped a struggling homeowner."
Since closing that deal, Kevin has helped three other homeowners in pre-foreclosures by finding buyers. Plus, he has invested in four other pre-foreclosed residential and commercial properties.
"Every property we've invested in has been done first with homeowners’ interests in mind," Kevin says. "We want them to be able to get out of foreclosure and walk away from the sale with some money to pay off bills, or simply to have in their pockets. That way they end up with more than if they let their home or property get foreclosed on by the lender."
There’s no doubt about it. The state-of-the-art investing knowledge students learn here at Trump University allows them to help others as they help themselves. Get involved in our real estate courses to learn more.Article author
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