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Old 03-23-2009, 03:03 PM   #21
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Originally Posted by wallygator69 View Post
I've been itching to pickup a foreclosure but this sound even better.

How did you find these properties?



Better hurry fast -- the market for this stuff appears to be at the initial stages of an explosion, according to some of the stuff you read in todays's blog here: Calculated Risk

I started looking with my daughter the last few weeks for her first home purchase; the number of foreclosure (REO) and short sales in the Northern Virginia suburbs has my head swirling.

I'd use a realtor for finding properties, for the most part. Also, if you look patiently at the newspaper public notices section, you can get the upcoming foreclosures; there are a lot of local auctions for Bank REO. Several banks have websites that list their REO stuff. Also, Government agencies, like HUD and VA, have properties they're trying to sell too.
Someday this war's gonna end . . .
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Old 03-23-2009, 04:15 PM   #22
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Chris C -

I am sure you and your daughter will have an easy time finding a decent deal for a first time home investment.

As an investor, having gone to several REO auctions, these things still don't cash flow in my hood (north of Boston). Unless you want to do business in the nearest inner city. So I am still on the sidelines.

I expect the "bad bank plan" will change the cash flow problem.
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