as foreclosures are happening so much, is there a way I can capitalize on it?

repair_car_confused asked:

I was wondering if there is a way I can get a foreclosure home and sell it when the market comes up.

Any ideas where the market is fallen a lot and is expected to take a u-turn?

May 7th, 2008 |

2 Responses to “as foreclosures are happening so much, is there a way I can capitalize on it?”

DOUBLE NET
May 10th, 2008 at 7:39 am

Buying a home at the foreclosure auction requires the full CASH amount. They do not take VISA. Not many people can buy a home that way even if it is a bargain.
REALTOR
May 12th, 2008 at 6:05 pm

Of course you can make money on foreclosures. You need to find a good deal, fix the place (many foreclosed properties are in bad shape) and then sell right away, if you can sell it with profit now, or keep it as a rental for some time and wait for the market to recover.
Nobody knows for sure when real estate market gets hot again (I’d guess in about 2 or 3 years, but what do I know?…)
Get yourself a good agent and have him or her to show you a bunch of foreclosed properties. You do not have to pay an agent, when you are a buyer, as you know.
If you need more info or help, email me. Whatever you do, do not trust those web sites promising to make you a rich, work with a Realtor. I have several clients right now looking at foreclosures and I’m sure I can find good deals for them.
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Just read what a person above me said.
I am not talking about auctions. I’m talking about buying foreclosed properties directly from lenders. You do not need cash. You get financing.