Any recommended reading before investing in foreclosures? Any advice??
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Answer:
A good place to start to check with the local agents or loan officer who does investing in foreclosures themselves.
You really do need to know what you're doing before you get into buying foreclosures, there are many different ways to get all kinds of messed up. They used to tell us in the Army hurry up and wait, I would certainly use that description for foreclosures. Bank owned foreclosures one offers right now but they tend to not respond for weeks.
By posting this question it seems like you're on the right track keep seeking that knowledge find out everything you possibly can before you make those investments.
Read everything you can, but most importantly look at the market where you are going to invest. Some places are doing well, and other are not. There are a lot of people out there doing "flips" and not seeing a return because most of the country is in a slump. You can also consider the "buy and hold" or renting aspect until the market is better and you can sell at a profit. The best book to start with in my opinion is the Wall Street Journal's guide to Real Estate Investing.
Do an internet search for "foreclosure basics" and "buying foreclosures". There is tons of good information there.
here is a website that lists all the laws and time lines for foreclosures in all states.
http://www.foreclosures.com/pages/state_...
simply click your state to see the laws and timelines
good luck.
I found http://how-to-buy-foreclosure. and they had some great information. I actually bought the ebook package, learned a lot and am working on my first deal highly recommended by me. Anyone else check out this site? I enjoy ebooks cuz I can read them on my computer and everyone I get gives me a little nugget of information that is going to help me succeed. . This sites info really gave me everything I need to know... I think I can finally stop wasting my hard earned cake on seminars, books, ebooks, audio tapes on how to do foreclosure and pre-foreclosures. But check it out for yourself, hopefully it helps you like it did me.
Peace be with you
Don't miss out on what many people are doing to save up to 80% off your new home. Many listings available in this area! Now is the time to buy!
http://govntforeclosures.blogspot.com...
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