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sweet_mayhem
Joined: 13 Oct 2006
Posts: 42
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 Posted: Fri Oct 13, 2006 1:37 pm Post subject: making a business out of foreclosed properties |
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| has anyone here tried buying a foreclosed property in vegas and turning it into a business--by leasing it out or selling it after making all those repairs? how did the whole process go? |
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eerie
Joined: 03 Oct 2006
Posts: 185
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| Posted: Fri Oct 13, 2006 5:40 pm Post subject: |
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| You need lots of money! Better to have started about 10-15 years ago. I knew several people who had built a good portfolio. They are probaby very rich now. |
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CH313
Joined: 17 Oct 2006
Posts: 9
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| Posted: Tue Oct 17, 2006 1:41 pm Post subject: Finding Foreclosures |
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| What is the best way to locate foreclosure homes before the foreclosure makes it to Sheriff Sale? |
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eerie
Joined: 03 Oct 2006
Posts: 185
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| Posted: Wed Oct 18, 2006 12:59 pm Post subject: |
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| Most foreclosures are through banks and other loan guaranteers like HUD or VA. You can find their websites easily. Just do a search. They are different for every state. |
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kelkat
Joined: 03 Oct 2006
Posts: 98
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| Posted: Fri Oct 20, 2006 4:12 am Post subject: |
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Around here they sell all foreclosed property on the court house steps (this includes any back foreclosures).
I think there is still money to be made in it. IF you look over the property before you buy so you have an idea of what you are getting into. |
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sweet_mayhem
Joined: 13 Oct 2006
Posts: 42
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| Posted: Mon Nov 20, 2006 6:12 am Post subject: |
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| kelkat wrote: | Around here they sell all foreclosed property on the court house steps (this includes any back foreclosures).
I think there is still money to be made in it. IF you look over the property before you buy so you have an idea of what you are getting into. |
so there are actually people who buy foreclosed properties without visiting them first? i thought before that it is a given to visit them before buying. |
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LeighA
Joined: 24 Oct 2006
Posts: 64
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| Posted: Thu Nov 30, 2006 7:01 pm Post subject: |
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| I don't think I could ever buy a house or property sight unseen...this just seems crazy! |
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eerie
Joined: 03 Oct 2006
Posts: 185
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| Posted: Sun Jan 28, 2007 4:35 pm Post subject: |
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| Educate yourself on the different types of foreclosure sales, though. For instance, a tax sale can be a nightmare for a new, unexperienced investor. Just be sure you know everything before you get involved. |
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SeeMe
Joined: 19 Jan 2007
Posts: 49
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| Posted: Fri Feb 02, 2007 2:45 am Post subject: |
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| There are also various internet sites that list foreclosures. There is a lot of competition for these properties though. |
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eerie
Joined: 03 Oct 2006
Posts: 185
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| Posted: Fri Feb 02, 2007 11:22 pm Post subject: |
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| Yes, and if the information isn't updated on a timely basis, you'll be looking at a house that's already sold. |
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SeeMe
Joined: 19 Jan 2007
Posts: 49
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| Posted: Sat Feb 03, 2007 2:06 am Post subject: |
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| Most of the county or bank sites that have foreclosures listed are updated daily. That's as good as it gets for real estate - it's better than the MLS a lot of the time. |
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eerie
Joined: 03 Oct 2006
Posts: 185
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| Posted: Sun Feb 04, 2007 3:56 pm Post subject: |
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| I only look at HUD and VA foreclosures. The VA listings are way out of date, and the HUD websites update weekly. |
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SeeMe
Joined: 19 Jan 2007
Posts: 49
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| Posted: Sun Feb 18, 2007 12:46 am Post subject: |
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| Well, that's the government for you!! |
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