There are good opportunities in BC real estate. British Columbia is a very good location with good economic terms and different types of geographical options. You can find coastal properties, mountain properties, townhouses in the city center or suburban houses in BC. Your potential gain in your real estate investment can increase considerably if you know how to use pre-foreclosure lists and take advantages of those lists.

A pre-foreclosure list contains information about property owners who have been unable to make the payments on their mortgage. However, rather than the banks reposessing the property and putting it through foreclosure, in a pre-foreclosure, the bank has allowed the borrower to sell the property himself and pay off as much of the mortgage debt as possible.

Because of the desperate circumstances these homeowners, houses in pre-foreclosure often sell significantly below the market value. These properties need to be moved quickly. This is as true in the BC real estate market as in any other. In addition, the foreclosure process in Canada is much more lengthy and involved than in the US, making the owners postponement of foreclosure a huge advantage for you, the buyer/investor.

In order to take advantage of the pre-foreclosure status of a property in the BC real estate market you must know how to locate them. You may find many free foreclosure listings being offered on various websites, however, don't confuse these with Pre-Foreclosure listings which are actually not even available to real estate agents.

A genuine pre-foreclosure list will give you contact information of the property owner as well as information about the mortgage owing, the value of the property, and other data that will help you identify profitable deals.

The difference in a list that is incorrect, not complete or out of date could make you miss deals and have you looking into leads that go nowhere. You really need to have the best in the area of intelligence if you want to work in the BC real estate market.

Some say, 'Knowledge is power'. In this case, knowledge of the latest pre-foreclosures in your area can give you the power to dramatically increase your income and wealth.

Once you have a high-quality list in hand, you're ready to go to work. The usual care you need in taking on any real estate deals holds true here, as well. Homes owned by people in difficult financial circumstances may not be in "showroom condition." But this is exactly where your opportunity is, because if the owners were not in financial difficulty, your chances of getting a profitable deal would be next to none. But if you make the right deal, your extra work or expense will pay you back many times your investment.