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| dman81 |
 Posted: Sun Feb 13, 2005 8:49 am Post subject: Does anyone know a thing or two on buying foreclosures? |
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Investing Sr. Associate
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| I am interested in buying foreclosures at an auction and then fixing it right up for profits within a month or two. Does anyone have some basic leads or info on this subject? |
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| paula0000 |
| Posted: Mon Feb 21, 2005 3:51 pm Post subject: |
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Investing Manager
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| I can't remeber the guy's name- but here in Canada I see this infomercial regularily about this program where you go to a free seminar and the guy tells you his strategies for buying forclosures- it was for Canada and the US- I can't remeber his name though...anyone? |
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| mrsboz |
| Posted: Tue Feb 22, 2005 9:27 am Post subject: |
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Investing Sr. Associate
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| My husband and I went to a couple of auctions years ago. Every single time we went to one the bank ended up buying the property back. We would get all excited thinking we could rebuild, fix it and after everyone was done bartering back and forth and you think that you will get the property the guy from the bank steps in a will buy it for $10,000 more than the highest bidder. Happened every time we went to one. Bummer. |
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| paula0000 |
| Posted: Tue Feb 22, 2005 4:19 pm Post subject: |
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Investing Manager
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| mrsboz...are you in the States or in Canada? How did you find out about the forclosure sales? |
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| eagertolearn |
| Posted: Thu Feb 24, 2005 1:55 pm Post subject: |
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Investing Sr. Associate
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My daughter and her husband were able to buy their house as a bank foreclosure. It had been totally trashed so they gutted it out to the outside walls and did absolutely EVERYTHING over. It's a GORGEOUS home now.
They paid $45,000, put $15,000 into it and it's worth $135,000 only 6 years later.
Of course you will only turn this kind of profit if you can do ALL of the work yourself - carpentry, plumbing, electrical, etc. |
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| paula0000 |
| Posted: Thu Feb 24, 2005 5:36 pm Post subject: |
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Investing Manager
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| wow- that's an inspiration...GOes to show that if you're handy you can really do wonders...still wondering if anyone knows how you find out about these foreclosure sales- I'm in Canada. Thanks! |
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| trixiezzz |
| Posted: Fri Feb 25, 2005 6:34 am Post subject: |
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Investing Manager
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| I've also heard that sometimes you can buy properties directly from the banks that own the mortgage on them. They often will sell them to you for 70 or 80 cents on the dollar rather than go through with an auction. |
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| paula0000 |
| Posted: Mon Feb 28, 2005 6:01 am Post subject: |
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Investing Manager
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| That will be something I check out at the bank- thanks for the tip! |
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| wallace6 |
| Posted: Mon Mar 07, 2005 11:33 am Post subject: foreclosures |
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Investing Sr. Associate
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| We have purchased two repos. and it went very smoothly. It helped to have the cash available. It is not near as easy if you have to get financing. |
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| paula0000 |
| Posted: Mon Mar 07, 2005 4:46 pm Post subject: |
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Investing Manager
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| I keep hearing about these 0 down foreclosures. Then the people turnover the property within a few months and make a bundle. It can't be that easy- I figure there must be more to it. |
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| nilearner |
| Posted: Tue Apr 26, 2005 2:23 pm Post subject: |
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New Poster
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I read something they call it, Tax Lien Certificate.
Looks like this is the same of what you are talking here.
Thinking of looking into this kind of investment, if I can afford it. |
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