Agent told me Foreclosures are a waste of time.

[Dusty Warner]

Hey Guys and Gals, I had the privilege of listening to Lisa Phillips Podcast today, Great Job Lisa! After listening to many other podcasts and reading multiple discussions I see a common strategy is to buy foreclosed homes for long term rentals. Im very curious about this, so I figured BP was a great place to gather more information on the process. Im curious about the pro's and con's of this type of investing….. Im currently working a 14 days on 7 days off schedule and have an interest in buying properties around the 30-60k level. I understand i won't be in the best areas of town, but i believe i can find some descent neighborhoods to invest in, with the use of a good realtor and property manager. I figure I can cover the mortgage for a few moths while i do the necessary repairs to get it rent ready. Rinse and Repeat. I was looking at foreclosed homes and possibly looking into using Homepath to finance a couple investment properties (just a thought). My real estate agent, which i do like, told me buying foreclosed homes was not a good idea and the whole process usually ends up being a wast of time. Which seems to conflict with most of what I'm learning on BP. He says he also owns a few rental properties, so I'm open to his advise, but just want to get others opinions on this situation. Can you give me your thoughts and point me in the direction of any good educational videos on investing in foreclosed homes.

Thanks, Dusty

[Britt Abbey]

translation: foreclosure = more work and less pay for your agent. Dump them if they can't see the forest through he trees. Building/fostering a long term relationship with their client should come before short-term gains.