Can anyone explain me about foreclosure real estate investin

edited July 2008 in Everything Else
I wouldn't touch foreclosures right now, but I'm sure some charitable, knowledgeable soul will soon appear, letting you know of all the wonderful possibilities.

Comments

  • I have to agree with Biliruben on this one. Foreclosures might be a way to get some instant equity, but it is very risky. The actual foreclosure sale is an auction on the courthouse steps, and the opening bid is usually the amount that the person owes plus fees. In the last few years, a lot of people overpaid for houses, and people bought houses with zero down, etc., so many of the opening bids for houses are for more than the house is worth...Plus you're buying them without the ability to enter them beforehand.

    A pre-foreclosure, or short sale is a safer bet but requires a lot of hoops to jump though, can take a lot of time, and deals fall apart, but they are out there.
  • Anyone else expecting a followup post by a new user with 1 post and a link...?
  • You read my mind LHR. :lol:
  • Anyone else expecting a followup post by a new user with 1 post and a link...?
    Sadly yes. If such a post appears, I may just nuke the whole thread.
  • magma wrote:
    My regards to the community, I would be seeking your advice on some matter. I have some interests in real estate and have read that foreclosure is an efficient way to gather up profits. I would like a little more thought on this...as to how does the whole thing work and how can we invest properly in pre-foreclosures to earn secure profits.

    Hi Magma,

    I recommend you first look into selling Herbalife. This will give you the massive amounts of cash you'll need for the foreclosure business. Herbalife is a growing business and not at all saturated. It's not a pyramid scheme, honestly.

    Then, buy foreclosures and search the house for old coins. All old coins are valuable except the ones that are not. The rule of thumb is that you take the year of the coin and subtract from 3000. That's how much the coin is worth in thousands of dollars. Only coins older than June 20th 1980 are valuable.

    After selling all the coins, sell the house for massive profits!

    Or you could just win the lottery, or maybe help someone from Nigeria transfer large sums of cash from a wealthy uncle. Send me your bank account details and I'll get you all set up.
  • So it's
    1. Herbalife
    2. Metal Detector
    3. ...
    4. Profilt!
    ?
  • Notabull wrote:
    Or you could just win the lottery

    Reminds me of a joke I heard this morning.

    What has six balls and screws Mexicans?




















    The lottery.
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