I’m thinking about to invest in the real estate market. Some homebuyers invest in foreclosed homes for sale and sell them, making profit with these houses. I’ve already heard about some websites offer foreclosed homes for sale below market value. Does anyone know where to find these properties?
i think http://www.foreclosuredeals.com/ is an especialized foreclosed homes for sale website.
June 15th, 2010 at 12:46 am
Foreclosed properties have often been abused and neglected- they have real problems and are often in bad neighborhoods. You can buy them "cheap" because no one is willing to buy anything that crumby for anymore.
The only people that can do well buying and selling foreclosures are those people that can look past cosmetics and see some houses are not quite as bad as they look. Then they do the repairs themselves.
This is not a easy way to make a living.
I find it much better to invest in real estate by buying rental properties that will rent for a good positive cash flow. And I keep them. That is not an easy way to make a living either- but I know what I am doing.
My point is- figure out a way to make a living that you enjoy and know about. Don’t let anyone fool you with "get rich quick" schemes.
Every foreclosed home is listed in the Realtor MLS and any of them can help you with that information.
References :
June 15th, 2010 at 1:08 am
foreclosre .com.
Hud.gov.
Dude NOW is NOT the time to be flipping houses, you can try but failure is high.
edit- I vote Glen as best answer
References :
June 15th, 2010 at 1:40 am
i think http://www.foreclosuredeals.com/ is an especialized foreclosed homes for sale website.
References :
June 15th, 2010 at 1:46 am
You’re not going to buy a foreclosed home and flip it in the near future. Why? Let’s say there are 100 foreclosed homes for sale all at a similar price. You buy one of them. Now, there are still 99 homes available at a foreclosed price. You won’t be able to sell your home until the other 99 have been sold. What many investors are doing is buying foreclosed homes then renting them until the market improves. Contact a local realtor for a list of foreclosed homes in your area.
References :
I’m a Realtor selling foreclosed homes