how do i buy properties for pennies on the dollar and sale them i wouldnt mind finding cheap housing and fixing it to sale ive seen infomercials on this and seen repoed housing online. is it true you can buy these houses for that cheap
2006-09-21 19:32:45 · 5 answers · asked by grock 3 in Business & Finance ➔ Renting & Real Estate
You attend the local tax sale, bid on the property. If successful winner, you have a redemption period to wait before you actually take possession, usually a year. If redeemed you get 10% interest for your money, if not you get the property. Research before you bid, you may buy a mess, or an unbuildable lot or a lot with EPA clean-up issues.
2006-09-21 19:40:09 · answer #1 · answered by tnbroker1 3 · 1⤊ 0⤋
Well I would truly look into the fine print before you buy anything that has gone into forecloser. Or up for tax sales. My husband and I bought a house and a piece of property from our town after they forclosed and we lost the house back to the original owners because all we did was buy the towns interest. The piece of land we cant do anything with for years because it could also be contested, and we could lose that also. So just be careful whatever you do!!!
2006-09-22 13:35:40 · answer #2 · answered by Jen 3 · 0⤊ 0⤋
There are professionals who do this. The days of amateurs are over. It is now a full time job for professional investors who are willing to take big risks with their own cash.
2006-09-22 03:54:35 · answer #3 · answered by Anonymous · 0⤊ 0⤋
This is a great book that covers this subject from head to toe:
ISBN: 0471692867
Regards
2006-09-22 18:29:55 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Try looking foreclosures. http://www.foreclosurefreesearch.com/
2006-09-21 19:36:49 · answer #5 · answered by JQT 6 · 0⤊ 0⤋