If you have been wanting to get into investing in foreclosures, now is the perfect time. With nation’s foreclosure rate at the highest, there are plenty of foreclosure deals to pick up. In the past to find good deals you have to hunt down homeowners that are in default but not yet being foreclosed. Trust me these people do NOT want to be bothered! Even if you manage to buy the home from the owner, you still need to be careful there may be other liens on the property you need to clear off. Most likely you will also need to fix up the house before you can sell it.
Now with so many foreclosed homes around, foreclosures investing couldn’t have been easier. You simply ask any real estate agent for a list of REO (Real Estate Owned) properties in the area. These are foreclosed homes that have been taken back by banks and now being offered for sale. You will not have to deal with any title issues because any liens would have been cleared through the foreclosure process. Some banks would even fix up the houses in order to sell them quickly. At the bare minimum, they would have done trash out already.
If you are wondering where to get the fund to buy these foreclosures and fix them up, well, FHA 203K is a great program for this purpose. So go ahead and start your foreclosure investing right away!