REO foreclosure and auctions.

[Elianna Zuluaga]

Hi everyone.

I'm new in real state investing and I would like to know what are your thoughts about REO foreclosure and auctions and if there are some steps that would make this process easier for someone without experience?

I'll be using private money or hard money to buy these properties, my main goal is to fix and flip and sell them.

I will appreciate your help.

thank you.

[Will Barnard]

REO's are typically listed on the market by the bank's selected RE agent. Foreclosure auctions are at the courthouse steps typically and being new is very dangerous there. I would not recommend going down this road for your first purchase without having a partner who has experience in this arena. Your best bet for deals being new would be to direct market to potential distressed homeowners until a lead comes to contract. Having your team in place is also something you should have before you start making offers or sending mailers (or whatever direct marketing you intend to use).