Updated over 16 years ago on . Most recent reply
Buying a foreclosure without having a buyer lined up yet
Has anyone purchased a property, for example, at a deep discount (pre-foreclosure etc) from someone who "just wants out and to start over", but without yet having a buyer ? If you were fairly new to RE investing, were you scared you could get stuck with a property that wouldst sell ? Im in the Dallas - Fort Worth, TX area and the RE market here hasnt suffered the same as other areas, but its definitely not the same as it was a few years back.
The strategy that appeals to me at this point, have yet to make my first deal, is to buy cheap, have some people I know do the fixup/finish work and then sell to a retail buyer via craigslist etc, or an agent that brings buyers.
What im afraid of is getting stuck with a property that wont sell.