Connect with people experienced in foreclosure home

Realtor · Memphis · Member since 2021 · 48 posts · 26 votes

Does anyone have experience with buying a foreclosure home? I am just getting started and would love to connect with someone who has experience.

Thanks,

Devvrat

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Fernando AlonsoPro Member

Investor · Miami, FL · Member since 2025 · 33 posts · 29 votes

Hi Devvrat,

Welcome to the world of foreclosure investing!

I’ve actually been working in the foreclosure business in Florida for over 15 years. During that time, I’ve helped investors navigate the process, taught classes, and even written books on the topic. That said, I want to be transparent, my experience is strictly focused on Florida, where I’ve specialized in distressed properties, auctions, REOs, and everything in between.

Real estate is a highly local business, and that’s even more true when it comes to foreclosures. Laws, procedures, timelines, and even market behavior can vary dramatically from state to state, so what works in Florida might not apply at all in Tennessee, New York, or Texas. That’s why it’s so important to understand your local foreclosure laws and auction systems before jumping in.

That said, if you’re in Florida, or even just looking to understand the general strategies and risks involved, I’d be happy to share insights or point you in the right direction. Let me know how I can help!

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Marcus Auerbach
Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
1y
You buy forclosures on MLS with an agent, but there are almost zero foreclosures, because everyone has to much equity. We are about 1% forclosure rate compared to almost 50% back in 2010. Everyone seems to think that foreclosure means great deals, which means the bank gets top dollars.
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Fernando AlonsoPro Member
Investor · Miami, FL · Member since 2025 · 33 posts · 29 votes
1y
Hi Devvrat,

Welcome to the world of foreclosure investing!

I’ve actually been working in the foreclosure business in Florida for over 15 years. During that time, I’ve helped investors navigate the process, taught classes, and even written books on the topic. That said, I want to be transparent, my experience is strictly focused on Florida, where I’ve specialized in distressed properties, auctions, REOs, and everything in between.

Real estate is a highly local business, and that’s even more true when it comes to foreclosures. Laws, procedures, timelines, and even market behavior can vary dramatically from state to state, so what works in Florida might not apply at all in Tennessee, New York, or Texas. That’s why it’s so important to understand your local foreclosure laws and auction systems before jumping in.

That said, if you’re in Florida, or even just looking to understand the general strategies and risks involved, I’d be happy to share insights or point you in the right direction. Let me know how I can help!
2 Reply
Tenzapa Wakombe
Real Estate Agent · Nashville, TN · Member since 2025 · 126 posts · 62 votes
1y
Hey Devvrat! I’m just getting started on the investing side too, but I’m a real estate agent and I’ve helped several investor clients purchase foreclosure properties—so I’ve seen the process up close.

Buying a foreclosure can definitely be a great way to pick up a property below market value, but it does come with some challenges. You’ll want to be extra thorough with your due diligence since many foreclosures are sold as-is and might have deferred maintenance or title issues. I always recommend having a good contractor lined up and making sure you (or your agent) pull a full title report.

If you’re looking to connect with someone who’s bought one personally, I’d be happy to help make connections or share what I’ve seen work well in my market.

Feel free to DM me if you want to chat more!
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James McGovern
Flipper/Rehabber · Bloomfield CT · Member since 2020 · 1k+ posts · 409 votes
1y
We focus on foreclosures in Connecticut. The biggest challenge is in knowing whether you will have to keep a tenant around while waiting for the eviction process
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Gina SternPro Member
Investor · Boca Raton, FL · Member since 2019 · 1k+ posts · 161 votes
1y
Hi Devvrat, good luck with your journey into the foreclosure world! Doing your due diligence is essential, there are still some good deals to be had out there for fixing up and flipping. If you are looking for further advice please feel free to DM me.
[email protected]561-430-2616
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
1y
totally state and market specific.. only take advice from those that are experts in the market you want to give this a try.. keep in mind though there is a huge good ole boy network in any major city that will be light years ahead of you.. they will have tons of cash they will know values they are very tough nut to crack or break into.
for me the easiest market I have seen to enter foreclosures is OHIO.. U only need a small deposit to bid.. and its organized pretty well. But again the good ole boys will be tough competition.
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Gina SternPro Member
Investor · Boca Raton, FL · Member since 2019 · 1k+ posts · 161 votes
1y
Hi Jay, why do you think that Ohio is an easier market, then say Florida? Do you think that with all the issues with condos, that there will be some good deals to be had in Florida?
[email protected]561-430-2616
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