And is there a way to get on a list, or find a way to find these simply?
What are some of the downfalls?
I'm doing this to buy rental income RE. I'm not a broker, agent, etc., just a regular guy looking for good investments, and possibly also to buy a house for myself to live in as well.
2007-02-27 05:28:32 · 3 answers · asked by dork 7 in Business & Finance ➔ Renting & Real Estate
There is no type of property that is "always a good deal". Short sale properties are homes that have loans on them that are worth more than the house is. These sellers are asking their lenders to accept less than they are owed to sell the house. No lender is going to let a home go cheap unless they absolutely have to. There is a chance you will get a highly motivated lender to dump the house to get whatever they can for it, but that is the case for any type of property in a declining market. Your best bet is to track a neighborhood. Get to know the homes int he area and track them when they go on the market and when they sell. Start writing offers on homes as they comae available and after they have been for sale for more than 120 days. Do not discriminate between types of homes! look at new homes, resale, REO (foreclosure), and short sale. Get an eye for value (know your market) - that's the only way to recognize the good opportunities.
2007-02-27 05:41:07 · answer #1 · answered by sdmike 5 · 2⤊ 0⤋
Nothing is always a good deal. Any investment has its risks.
2007-02-27 18:12:01 · answer #2 · answered by frankie b 5 · 0⤊ 0⤋
Well , you can find cheap houses there in auction , check http://stateauctions.deals-guide.com , could help you find great deals
2007-03-01 06:42:07 · answer #3 · answered by Kristina A 3 · 0⤊ 0⤋