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Topic: Looking to know more about real estate investing. (Read 315 times)
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    Joined: Jan 2006 Posts: 6158
Building a Foundation
  
 United States
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Jun 05, 2008, 11:38:07 AM | #3 |
Good advice Phillips - Buying properties that have been dragged through probate is great especially in Florida and Arizona because you'll find a lot of people who inherit their parents or grandparents condos or properties and are looking to firesale it to get whatever they can.
Another old tip for those interested in buying condos is to look on the condo or developments message boards (usually in laundry rooms or rec center) and look for people trying to do owner to buyer sales without a broker involved. I had a friend who bought every unit in a 12 unit building over a 10 year period based on word of mouth because he was paying full value, no mortgage and no brokers or lawyers involved.
Although a lot of investors think forclosure properties are hot at the moment, the problem is that (at east in Florida) you have to be present at the courthouse steps for the auction. |
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