watched a informercial and thought about tapping into purchasing foreclosed properties to include commercial,

Andre
Other/Just Looking
Augusta, GA

is it easier said than done?

Answers (2)
Lynn911.com Dal...
Agent
Dallas, TX

You need to establish a business plan. I speak with so many potential investors who have not thought about entire process of how own multi homes investments make serious money. I have worked with many who have huge profits others I inherited after they made serious mistakes who did not have plan of action. GREAT TIME to purchase.

Web Reference: http://www.lynn911.com
Sat Jan 10 2009, 08:25
Scott Godzyk
Agent
New Hampshire
FIRST ANSWER

Andre it is not as easy as TV makes it out to be. You will need to have good to excellent credit, a down payment, closing costs and money to make the repairs needed. If you do want to exlplore the workd of investing in foreclosures you should get a buyer broker who is experienced in foreclosures. Hiring a buyer broker should not cost you anything out of pocket as they get paid the fee offered in mls and paid at closing by the listing broker. This way you have someone looking out for you and can assist you through each step of the buying [process. After all the listing agent is looking out for the bank. The buyer broker can provide you a list of properties currently available and update you as new listings come out. If you are looking into commercial you will need at last 20% down and sometimes up to 35% down on a commercial loan. Good luck with your search.

Sat Jan 10 2009, 05:54

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