I am interested in purchasing one property and trying my hand at having a rental property for extra income. I have looked into that and found that my best bet with my current situation would likely be to purchase a home that's been foreclosed on. I have found a site that lists upcoming f/c auctions, but I don't know anything about how to determine if its' a good deal or not - for instance, this site lists the loan balance, the final judgement and the judge's assessment. Is there a course you can take on buying foreclosed properties, or a website to teach me how to figure the worth of the home versus the amount owed on it - and most especially how to get a ballpark of what's owed based on the figures I just mentioned. I know I'd need a title search on any home for protection, but I don't even want to initiate one without knowing how much is expected without looking for other liens. Hope this makes sense.
2006-08-21
10:51:51
·
4 answers
·
asked by
tagi_65
5
in
Renting & Real Estate