Foreclosure in Laurel>Question Details

Tony Langley, Other/Just Looking in Laurel, DE

My wife and I are looking to get into flippinghouses and were wondering where to find a list of the

Asked by Tony Langley, Laurel, DE Sun Mar 23, 2008

properities in our area that had have tax foreclosures on them. Where do we go to find this information?

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Tax foreclosures are a little tricky. Make sure you know what you are doing. Because they can pay the back taxes and get the property back in a certain amount of time..
If I were you I would start flipping houses that are on the market. They could be foreclosures or not, but just pick ones that onle need cosmetic work.
0 votes Thank Flag Link Mon Jul 23, 2012
Tax foreclosures are a little tricky. Make sure you know what you are doing. Because they can pay the back taxes and get the property back in a certain amount of time..
If I were you I would start flipping houses that are on the market. They could be foreclosures or not, but just pick ones that onle need cosmetic work.
0 votes Thank Flag Link Mon Jul 23, 2012
Tony,
you've been watching too much tv infomercials
you want to get rich quick?
did you buy the get rich quick kit for $40?
I thought that told you where to find all the great deals

anyways

have a nice day
0 votes Thank Flag Link Mon Mar 24, 2008
Tony,
Do enter with caution. I read the other responses and Don's response is very informative. You will need to go to the courthouse and they are usually posted in front of the Chancery Clerk's office. Foreclosures in our area are elusive and not profitable. Mississippi has not been as highly affected by foreclosures like other markets so you will have a harder time finding them. Pay attention to what houses in the particular neighborhood are selling for. Reason = even if you fix up a home to today's standards there is a top price for the neighborhood and you may not get a great return on your investment. I am in MS so don't hesitate to contact me through Trulia.
0 votes Thank Flag Link Mon Mar 24, 2008
You go to your county courthouse for tax foreclosures.

Question: Why are you looking at foreclosures? And, within foreclosures, why tax foreclosures? Of the foreclosures I'm aware of, only a very tiny percentage are tax foreclosures. And often the tax foreclosures are small slices of land, or landlocked parcels, that aren't worth much. Like I said, you can get that from the county courthouse. One other thing to keep in mind about tax foreclosures: Many jurisdictions only offer them (often via an auction process) only once a year.

And why foreclosures? I know some people have this image of foreclosures being great bargains--sometimes they are, often they're not. But why not pre-foreclosures? Why not distress situations? Why not probate and estate sales?

And, having said all that, I also agree with Pam. Yes, it is possible to "flip" houses today, but you have to be a lot more careful. You have to know what you're doing. And you have to buy even lower than in the past. (Thus my suggestion that you broaden your search, if that's what you've decided to do.)

Hope that helps.
0 votes Thank Flag Link Mon Mar 24, 2008
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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Tony....

The current market we are in does not lend itself to flipping houses. One must be very well versed and able to do the repairs themselfs with a quick turn around. The average market times are up and so are carrying costs. I would be extremely careful with this.
0 votes Thank Flag Link Sun Mar 23, 2008
Pam Winterba…, Real Estate Pro in San Ramon, CA
MVP'08
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