How to Find and Buy a Foreclosed Home 

Did you get a loan on it?

@@Alpha_apex I did. It was an FHA loan. You'll need a 620 credit score and like at least 3% or 4% down payment to qualify (I think... check me on that). I've sold my house since that comment!

@@villiam7795 nice congrats man. Many more blessings you're way.

@@Alpha_apex are you interested

@@villiam7795 congratulations boss! Love seeing people win! Happy for you

True but if I went to a home auction and was able to buy a home for 5-10k cash, even if the home needed to be fixed up, I bet I could sell it and still make a profit...or fix it up snd rent it out :)

so u didnt have to pay any liens or anything or is that a myth?

Tommy Hammernots That happened once. They turn the main off and texted me the next day. Great tenants

@Tommy Hammernots the point to choosing your neighbors is being selective.

Does it have to be cash or it can be on a Morgage?

@@mizoelhesny6974 It can be a mortgage. You just have to pay 20% down.

Where did you find the info that the bank was selling?

RIGHT !!!!! TOOK THE WORDS RIGHT OUT OF MY MOUTH!

No worries, it has 58K+ likes now haha

This man will make me a millionaire , thank you

Hello, I am in London and am considering investing in real estate as a way to get some passive income. A few years ago, my brother purchased a home in a county outside of London. Because he was unable to find tenants, the property was eventually repossessed. As a result of this experience, I'm concentrating on purchasing real estate in London, where it's quite challenging to obtain a mortgage because of the high cost of the properties. Would you kindly recommend an easy way, where one may try to sustain these cost on mortgage?

First, Jessica you need to have a salary of at least 25k before you will be considered for a mortgage, that you need for properties. If you want to achieve a 75 percent yield yearly, try looking out for an investing advisory or else you will be competing against professionals themselves.

That's an intentional way to live Debbie, that's the only way to become debt free. I've already paid off two previous mortgages. Now I'm working on my third and I cannot wait since it has to happen before retirement in four years and I'm already getting there the proficient way, Luckily for me my trader and coach Frost Hilda has been using every opportunity to ensure I benefit from each turn the market takes. Good luck staying debt free as much as possible in the future.

Absolutely Zachary, contract agreement splits are favorable, I’m also exceptionally well positioned as I’m privy, so that’s a good return deal for any investors creating revenue for more interest.

I'm currently overpaying my mortgage each month with money from investing. I'm on a no buy this year and my goal is to have my mortgage paid off in under 3years, hopefully sooner, so I appreciate and am forever open to receiving tremendous amount of value to achieve my target.

Sparrow Lane Jewely Etsy that’s how it should be!

Tenant turnover costs money. If she was a good tenant, kept current on her rent and took reasonable care of the place, I'd have given her the option to stay, too.

Sparrow Lane Jewelry -Laurie :-)

Boo boo boo

Boo0

I saw one for $100 on the county foreclosure site

People usually inflate their real estate deals.

Will Tirad you call that a good deal?? You fucking got hustled.

@@goldwolf0606 don't be dumb dude

Graphene I’m just being honest.

You just gotta find a buyer. Should I wait til the market crashes and then buy someone's foreclosed property?

Vollick thank you

Ty

Thanks 😁

Thanks.

Thank you

Awesome information❤️❤️Thank you so much❤️

Im trying to wrap my head around this so basically the final judgement is the minimum a foreclosed property on the auction will go for ??

Hello. In what websites do you look for foreclosures?

@THEANSWER Maybe computers

A bank rep can bid on a house that his bank already owns? Sounds like a conflict of interest to me. If his bid winds up being the highest because neither you nor nobody else will overpay for the joint, what then?

@@ApartmentKing66 A REO/ Bank owned and Sheriff Sales are very similar. REO sale is a foreclosed house that has been vacated and put on the market. Sheriff Sale is foreclosed via a court order and becomes the property of the state. These properties then go to auction and anyone can buy them.The bank would have an interest in $100,000 house that has a foreclosed amount of $80,000. In a Sheriff Sale the opening bid is always 2/3 of the appraised value. Your $100,000 house is going to open at $66,000. All of that $66,000 goes to pay back the foreclosed amount, so the bank loses money. The bank is at the auction to run that house up to $80,000 to suffice the previous mortgage, and is prepared to buy it and sell it themselves, to take a smaller loss. Where a buyer can be a big winner, is that $100,000 house an elderly couple took out a $20,000 refinance to build a kitchen, they have an accident and go into a nursing home, stop paying on that mortgage. Their $100,000 house starts at $66,000, $20,000 is all that is owed on it so the bank does not really care what happens to it. I buy a $100,000 house for $66,000, clean it up, clean it out, put it on the market for $90,000. I make money, and the buyer has instant equity.

@@redman3583 put it on the market for $1000,00 and settle for 90

@@ApartmentKing66 a yrr

Red Man a

anybody who has already looked into how it works should know all this, he didn't even explain when it is a good deal or not, and how to properly analyze it's worth depending on the current market in the area, but ok

Kevin Simas yeah I just got the book. I can’t wait to start it !!

What's the name of the book please

Hey Kevin, I'm a new investor how do I find pre-foreclosures. WE CAN PAY CASH we are an investors group?

WOW..Lazy !!!!!!!!!!!1

c rorie I'm a lisenced contractor here in Toms River NJ. please contact me if there is anything you need done. 973 438 0839

Hello Kevin, I'm a lisenced contractor here in Toms River. I specialize in REO properties. Please let me know if there's anything we can do together.

Kevin Hill, I'm a new agent (also getting into the investment side) In somerset county and I stumbled across the homepath website, I couldn't believe how many properties had work done to them by the banks, it's crazy.

How do you find pre foreclosure deals?

@@juliangigante search for properties with multiple liens, water or electric shut off, a bankruptcy discharge(least ideal), a recent spousal death or job loss, a recent move to a nursing care facility, and the ever popular targeted mailing campaign.

@@juliangigante there’s also tons of software that helps like “realeflow”.

Thk

theyve had practice