Forclosure in a good location? What now?

4 Replies

there is a foreclosure asking for 89k with 2100 sqft with some some cosmetic touch ups needed to be done

On the same street there is a house asking for 174k with 2065 sqft

And there is one more that just sold for 75k and is estimated to go for 165 when all said and done with 1756 sqft

Would it be wise to look into the forclosure? Is it possible to wholesale with the foreclosure? What would be the best route to go when money is not the first option to go with?

Thanks 

it all depends on the rehab cost. If it was a real deal, it probably already would have been sold. But it might be ok.

First thing I would like to know is how much time is left?

@Brian P. I do not know if my answer will answer your question exactly but the site I see it on listed the house by the bank on Nov 23rd. If there is any other information needed, I will give you as much as possible to get educated with this property.

@Account Closed  I always ask myself these questions:

Am I ready to purchase today?

Does the property meet my criteria, and investment goals?

Do I have an exit strategy? 

If you cant answer all these questions with a YES then walk away for now. Building a solid foundation is important before the purchase of a property. There will always be other properties on the market. 

Don't look at building the roof, if you have not finished the foundation. 

Hope this helps

Brandon L., Real Estate Agent in VA (#0225225026)
571-510-0027

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