Jim, I Have Been Seeing A Lot Of TV Infomercials About Foreclosures. What Are Your Thoughts On Buying Foreclosures At This Time?
Yes, the infomercial guys are really starting to push foreclosure investing. I have an e Book on this topic available for only $9.95, which will give you everything you to know to get started with finding and buying foreclosures (a far better deal that you will find through the TV infomercials).
The major drawback involved with buying foreclosures is that you will likely need to buy the property and hold it for at least 2 to 3 years. This is why my primary recommendation on buying foreclosures is for people to use this as a strategy to purchase a home to live in. Alternatively, this would be a way to acquire properties to rent out as longer term investments.
The problem with buying foreclosures with the idea of fixing them up and “flipping” them for a quick profit, is that there is a very small pool of buyers in the market right now. I see properties every day here in Florida that are very aggressively priced but are just not selling. While it is true you can buy foreclosures and other distressed real estate at fantastic prices today, it has become almost impossible to sell anything.
So, if you are looking for a good longer term investment this may be an idea worth considering. Don’t expect any quick profits as the infomercial guys are promising.
Agree or disagree, click on comments below.
Helping you make the most of God’s money!