Foreclosure buyers...?
Question:
How much did it cost you to buy, remodel and fix? was it worth it?
Please share your experience.
Answer:
yes - my rent house was one - hire an inspector to go with you so there is no surprises - my father is one and went with me - we spent about 12K getting up to par
Hello, buying and fixing foreclosures is one of my main sources of income. As long as you have good information you can get the good deals before they get scooped up. If you play your cards right you can do it without putting money out of your pocket. Check out the info at the following website. I think they have a free trial period to a national foreclosure database. Good luck. Do your home work and you will do well.
This can be rewarding but there are legal risks that you should check into. Laws protect the homeowner first and as in investor interested in foreclosures you need to know how each state's laws impact that.
Here is some additional info. Hope this helps.
Yes, foreclosures can be a good investment but do your homework.
Depending on your finances you can either purchase a home at auction or post auction when it is back in the bank's hand.
Definitely get an inspection and the works. The amount you put in is all relative depending on the state of the house. You normally don't want to spend all the equity it comes with... but if its a good investment then go for it, do what you can afford. Then I would recommend renting it for a while due to the slow market.
If you're ready to dive in, check out this site:
http://www.foreclosure.com
happy hunting.
I have done 8 deals through this database
http://calihomes.blogspot.com
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