The below topic is discussed in our members' only Tips on Buying Foreclosures page.

Some real estate investors concentrate on buying real estate foreclosures from owners in default, banks and government agencies.  The up-side is that you can usually buy below market value. The down-side is that the property has often been neglected or abandoned and vacant for a substantial period. That leads to all kinds of problems, including: corroded old plumbing, cracked plaster or drywall, pervasive mildew, unwanted, unscreened tenants and a great many others.
        However, if "bargains" are your passion we will provide some help with an overview and a few tips here. There is much more detail and step-by-step help for RHOL members at Cornerstone University in our Buying Foreclosures e-course; a comprehensive education on this lucrative investing opportunity.

Here is a brief overview on buying foreclosures.

• Locate loans in default

• Make friends with bankers

• Make friends with appraisers.

• Register for HUD foreclosure mailing list

• Register for the VA foreclosure list

• Watch out for get rich schemes

• Buy before the sale

• Never buy anything without an inspection

The above topics are discussed in detail on our members' only Tips on Buying Foreclosures page.

Accounting & Bookkeeping | Advertising Vacancies | Books & Tapes For Landlords | Associations for Rental Housing | Buying Income Property   | Mortgage Calculators & Tools | Collecting Rent | Credit Reports | Developing Income Property | Environmental Issues in Housing | Fair Credit Reporting Act | FAQ Landlords | FAQ Maintenance | FAQ Tenants | Federal Housing Acts | Financial Analyses of Properties | Forms and Agreements | Government Housing Programs | Insurance | Insurance for Tenants | Investing | Landlord Tenant Law | Lead Paint | Legislation & Courts | Lighten Up Landlords | Management Web | Rental Housing Maintenance | Make a Million | Money | News and Commentary | Pets Pages | Political Activism   | Property Management | Real Estate on the Web | Rent Rates | Rental Housing News | Slumlords Page | State & Nation Housing Information | Surf The Web | Taxes On Income Property | Tenant Selection & Screening | Tenant's Home Page | Understanding Mortgages | Vacancy Listings | Become a Supporting member