Is buying and selling foreclosed houses a lucrative way to make a living? What are the +s and -s to buying and selling these homes?
2006-12-12 18:06:36 · 3 answers · asked by tony20c 2 in Business & Finance ➔ Renting & Real Estate
Foreclosures never come clean. Liens aside they are usually trashed by the former owner who is angry at the company foreclosing.If you have the available cash to clear the liens and clean it up then OK. Leave it to those experienced in buying these. Not for the average homeowner.
2006-12-13 00:42:30 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Wherever there is potential for great gains, there is great risk. Yes, buying and selling these homes can be very lucrative. get a job with a title company and learn how to do your own title searches. Then you'll have that part covered. Get a job working at a bank in the REO department. Learn what they do when there are other liens on properties that they are foreclosing on.
Once you have knowledge, THEN you have power. A fool and his money are just a big party.
2006-12-16 09:53:01 · answer #2 · answered by teran_realtor 7 · 0⤊ 0⤋
Not really any pluses....foreclosed homes tend to have back taxes and liens, that MUST be paid, for you to full owner ship of the property...if you are going to buy one, go to your county court house and do as much research on the property before you buy.
2006-12-12 18:30:22 · answer #3 · answered by bigblackmon 2 · 0⤊ 0⤋