How to profit from REO's in my market! Help

2 Replies

Hey, im not new to forum, but i have been out of the loop for awhile focusing on other things. But last night i was online searching zillow looking for a home cause im trying to move. And just for the fun of it, i type in a low price range, just to see if any properties would come up. And they did. My area had a ton of REO's and pre foreclosures and land for dirt cheap. (Single family-Multi family) and some need fixing and others are pretty decent. I was wonder how can i profit from this quickly? Wholesaling, fix and flip? Some were just hitting the market and others have been on there for awhile. Looking for someone with experience in REO's and foreclosures.

How's the retail market? That's the big question. If there is a good spread between what distressed and retail homes are selling for and plenty of activity amongst retail buyers, then fix and flip is probably a better strategy. If not, a wholesale strategy to buy and hold types is probably a better way to go, or perhaps lease options.

Like i said, i have been out of the loop for awhile, so im a little rusty on my market to be honest. How can i find out these things. REO/foreclosures wasnt my area of investing. :) Some of the properties are decent and selling for 8k to 12k. And had estimated values of 30k to 80k. I was thinking to wholesale them. And flip them for a nice spread. I do have money saved up though were i can actual buy the properties as well, but if i could flip them without using my own money would be great too. :) Or maybe use funding to get them and flip (is that possible?) Just wanting to know what would be the safest way.

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