you can get good deals in the regular market... just get a good buyer's agent with experience and track record and you will make a good investment in no time!
Best of luck!
Here are some things to think about before doing this:
1. You will need all cash
2. You will be competing against veteran investors
3. You will not get to do inspections
4. You could have title issues
5. If you want an agent you will have to pay them out of your pocket. Most agents I know don't do these kinds of deals.
You may consider looking at REO properties that are listed on the MLS. They frequently are priced better and you can deal with inspections and title issues.The process and disclosures for these are different from regular sales though, so get someone familiar with the process.
Lance King/Owner-Managing Broker
Call me if sounds interesting
http://www.1801Bellevue.com - check out our last project
Risa Liebster, RealtorÂ®
If you buy a property at auction it's with all cash. The majority of the auctions get postponed. You take the property as is and you don't have a chance to view the inside. You also may get stuck with a property that has other liens on it. Tenants. Evictions. Unknown repairs. If you don't have all cash it's best to go for a bank owned property or short sale. You don't need an agent to represent you at the foreclosure sale as there is no escrow process. It's a cash sale as-is and super risky for the novice.
I am happy to help you find a bank owned property or short sale.
The Carrabba Group