I am new. I am in Tn where there are lots of foreclosures. I am very interested in investing. I just graduated w.bachelors. But I have been living in an apt where the landlord refuses to fix things. I am interested in calling foreclosures that are listed in our business paper and trying to find a home to buy. What are the chances of getting loans for houses if say the house is worth 65,000 and you get it for $50,000? But I want to make this my career and put everything in it. I am not presently doing anything else except side jobs and some ebay. If u can help please contact me. I need a mentor to help sort out how to do this without a lot of cash. It must be possible. Please help its only your time.
I am new too, but I just had to respond to this:
Please help its only your time.
time IS money. You pay for LOTS of peoples time, especilly when they have something you want. TIME IS VALUABLE.
well if you're referring to foreclosures in the paper - the ads that say something like, "foreclosures in your area 3Br 1Ba for 10k call 1800..."
that's a company that advertises their "services" for finding foreclosures and they're a dime a dozen.
if you're thinking of buying a foreclosure to fix up and live in, that may be a very good choice, but you have to really know what you want to buy, how much you want to pay and how you're going to finance it (that's huge).
good luck! just don't pay market value!!!!!!!! 30% Below Market Value - minimum...and that's easier said then done...but very doable.