I have some extra money and I am willing to buy foreclosures as I think they are the best investment nowadays (correct me if I’m wrong). I am new to this business and I need info on which is the best way to buy (I’ve been to the clerk’s website but the only thing I see are the cases and I can’t see any physical adress) or if there is any website where I can see these properties addresses. I might be going to an auction just to see how it works and get some info. Is it better to buy a pre-foreclosure ? Where I can find info on foreclosures in Florida (Orange County) as I can’t see them in the clerk’s site.
Is there a way I can locate a foreclosure before it hits the courts or while its been auctioned ? Any inputs on how to invest? Hints ?
Tony, I can’t agree that foreclosures are the best route for a beginning real estate investor. You’ll be up against professionals with deep pockets and much experience. Not to mention you are putting up cash, and lots of it, to make your purchase on a property as-is. Risky proposition, in my opinion.
For a new guy, wholesaleing and lease options are a smart way to get started.
I think you will contact with a local agent of your choice place because they have knowledge about them fields.
Tony,
You have a few options but you must be smart. It takes knowledge, experience and making the best informed decisions to purchase foreclosures right. You can find them before they hit auction, buy as a short sale, buy at the auction, buy as an REO, etc. The numbers and deal have to make sense.
I recommend finding an agent that is good at working with investors. I am recommend finding a local mentor or expert you can partner with. Someone who is currently cleaning up in your area can be a perfect person to partner with and show you the ropes. I hope this helps.
We do foreclosure flips and cash flow deals in OH and I partner with people like yourself all the time. I give them the lionshare of the profit since they put up all the money. We have the experience, team and know how, do the deal, everyone makes money and it is a great win-win for all. I think this would work great for you and you will learn a ton in the process while being in good hands with an expert in your area.